U.K.-based Juniper Research estimated worldwide data breaches will rise from about 6,000 this year to more than 16,000 by 2020. However, universal log-in and mobile identity services could ease the pain.
The study claimed that mobile network operators will generate an additional $700 million annually by 2020 from these universal log-in and mobile identity services from a base of just $20 million this year.
The new research, "Mobile Identity, Authentication & Tokenization 2015-2020," found password limitations were increasingly exposed as online engagement soared. With consumers using the same password for multiple sites, the scale of data theft has risen dramatically, with an average of 500,000 records exposed per breach.
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Roy Urrico
Roy W. Urrico specializes in articles about financial technology and services for Credit Union Times, as well as ghostwriting, copywriting, and case studies. Also: writer/editor of a semi-annual newsletter for Association for Financial Technology since 1997 and history projects funded by the U.S Interior Department, National Park Service and Warren County (N.Y.).
