Technology affects every aspect of our life, especially our security. Luckily there is always new technology being created to help keep our lives more secure. As our lives become digitized it seems that more and more sensitive information is being added to databases connected to networks or accessible from the web. This raises a red flag to anyone who has been affected by identity theft or fraud. With all of our personal data being stored in so many places it would seem that we more vulnerable to malicious attacks than ever. However this is not true, as technology begins to change the way we interact and share information it is also changing the way we secure our data.

Two- factor authentication utilizing a one-time password is technology that has been around for decades although the need for such security has risen lately. With many industries going paperless and wireless it opens the gate for hackers to siphon private data. Industries such as education, financial services and healthcare are all in need of higher security since they deal with important information that must be kept confidential.

OTP in Education

The education industry has been utilizing electronic records for a long time to manage students. These records are stored on a computer that is connected to a network for administrative use, the very same network that students are accessing from their laptops, tablets and smartphones.

Even on a password secured network these records are vulnerable since you do not need to be extremely computer savvy to use a key logger. Any student could simple attach a device to their teachers computer or install malicious software that operates discreetly behind the scenes to log keystrokes. Potentially stealing their teacher’s login credentials and gaining access to confidential information.

Any agency collecting, maintaining and storing sensitive information is responsible for managing that data responsibly as stated in "The Family Educational Rights and Privacy Act" also known as FERPA. With security being their government appointed responsibility and malicious attacks becoming easier to perform, many education agencies are securing their confidential information with two-factor authentication through a one-time password.

OTP for Financial Services

Identity fraud is most apparent in the financial services industry for a good reason, it deals directly with money. Just like everything technology has affected the way we bank with online banking being offered by almost every bank. However this poses a threat to client identities. To keep account holders secure a one-time password is used to keep online banking customers safe by authenticating a user when they log in from different IP addresses. Two-factor authentication is also used to identify an account holder at almost every point of transaction through a bank card and PIN.

OTP in Healthcare

The healthcare industry is facing many changes in the future from regulations demanding increased security of patient’s confidential information. With more sensitive data being readily available over the internet for physicians the need to secure that information is extremely critical. Authorization to access a patient’s medical record is crucial and a one-time password provides that security by identifying the physician, issuing the OTP and allowing a single sign on. Even on mobile devices such as laptops and tablets, zero footprint security can allow access to records without leaving any data on the device.

Transmitting data securely is the future of security in almost every industry. Info is power and with almost every industry moving over to wireless interaction between tablets, laptops and smartphones hackers are using technology against us to gain power. Securing that information through two-factor authentication and one-time password services is the future of technology in order to protect the same users it was put in place to help.