There’s a new security app for enterprise iPhone users: PhoneFactor. Released a few weeks ago, this app employs a 2-step verification system that uses the iPhone to prevent unauthorized access to business and personal accounts, while also stopping fraudulent transactions in real-time.
When logging into an enterprise or online application, PhoneFactor requires the user to respond to a push notification before the login can be completed. Authenticating the notification verifies that the login request is legitimate. If someone other than the authorized user tries to complete a login, the user can tap deny to both block the request and to report the fraud to their IT department.
To further ensure that the login attempt is legitimate, it’s possible to add one more layer of security by requiring the user type a PIN into the notification box.
A demo of the software is detailed in a YouTube post.
The software works with VPN and Microsoft Exchange accounts, as well as banking and other online transactions.
PhoneFactor’s website indicates that their software license typically costs enterprises between $10 and $25 per user, per year. The iOS app is available for the iPhone and iPad for free.
The app is similar to the Google’s free Authenticator app that also works with 2-step verification for your Google Account. To use Google Authenticator, you need to enable 2-step verification on your Google Account.
The obvious downside to this sort of system is that it requires you to always have your phone nearby. Such an inconvenience may be worth it to prevent identity fraud.