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Better password management is the antidote to data breaches

Simon Cederstråhle Melander & Hakan Yagci, Uniqkey A/S

Back in November, 2021, Uniqkey CEO, Hakan Yagci, and CMO, Simon Melander, was featured in Business Review. Here, they shared their thoughts about the most common cause of data breaches, and how Uniqkey acts as an surprisingly simple antidote to this source of risk.

The most common cause of data breaches

To this day, risky password habits among employees is still the number one cause of data breaches. According to Verizon, 81% of all data breaches can be traced back to the use of weak or re-used passwords.

Now this isn’t surprising. 

In today’s digital world, people don’t just have to worry about a handful of precious passwords. Because of the rising use of cloud services across all kinds of organizations and businesses, people now have to manage logins to several dozens services each. For most people, remembering complex and long passwords is extremely difficult and utterly impractical. So they don’t.

Instead, people use passwords they can remember or have used before elsewhere. While this makes their digital life easier, it also makes it a great deal more risky.

A simple solution for a simple (but serious) problem

In the interview, Simon goes into great detail, explaining the problematic nature of most businesses’ current security practices in terms every employee, administrator, and business-owner can relate to:

“Today, an average company with 200 employees uses 185 different applications to operate their business. Each employee requires a unique login to each application, turning those 185 applications into 4400 different passwords, which in turn becomes 4400 different points of entrance for bad actors.”

The key benefit of Uniqkey, Simon explains, “lies in the simplicity of the solution.” 

Uniqkey has managed to automate the entire login flow, replacing the manual input of credentials with an app that auto-fills all information – including 2 factor authentication. On top of this, users are also able to auto-generate and store incredibly complex and unique passwords with the click of a button. “Using Uniqkey, you prevent up to 81% of all data breaches.” notes Simon.

To read the entire interview by Business Review, simply go here.

The interview is currently only available in Danish.

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