[Whitepaper] Account Security Best Practices Guide

Each interaction with your users is an opportunity to instill trust. Ensure proper verification & authentication in your app with these best practices.

Download the Guide

[Whitepaper] Account Security Best Practices Guide

If you think that creating a solid account security plan is not of your budget, think again. Not defending your business — and your users — from hacks and breaches can have major ROI implications. That’s because expenses related to users will increase as your business grows.

Think about these three critical user lifecycle events: user registration, user authentication, and account recovery. Addressing problems within these events can help you to reduce costs, increase security, and limit user friction. But you need to do so sooner rather than later to provide positive experiences that will instill trust between your business and your users. We’ve assembled some best practices for ensuring that the account security of users in your application is well implemented. First, think about how you’d answer the following three questions:

  1. Are your methods to verify new users working?
  2. Are you doing everything you can to secure your users’ information?
  3. Do you make it easy for our users to recover access to their accounts if they forget or misplace their login credentials?

The technology landscape is full of solutions perfected to tackle all aspects of account security. So, while it’s tempting to think you can build an account security solution in-house, don’t. Your engineering time and resources are yo valuable to be spent re-inventing the wheel. Instead, implement an API and embed pre-built solutions directly into the flow of your applications.

Download our Account Security Best Practices Guide, to learn more about how to protect your users’ data and your bottom line.

Short on time? Here are the top takeaways:

This short whitepaper details how to strike the right balance of risk versus user experience, and how to keep your business safe, and your user’s data secure and private. Here are a few highlights:

  • According to a recent Identity Fraud Study, account takeovers —where stolen login information is used to access a consumer’s accounts— rose 31% in 2016.
  • Account takeovers have cost consumers more than $16 billion.
  • Not having strong account security can be a real drain on your ROI. Each password reset typically costs support teams $15-$50. If 20% of your users reset their password once a month, when you triple your active users, you also triple these support costs.
  • For financial institutions, the loss as a result of a takeover is typically $10K to $15K per account.
  • When choosing an API for verification or two-factor authentication, remember to look for detailed and up-to-date documentation combined with an active community across many platforms.