Two Factor Authentication

Modified on Thu, 07 Jul 2022 at 12:36 PM

Two Factor Authentication


What is two-factor authentication?

Two-factor authentication (2FA), sometimes referred to as two-step verification or dual-factor authentication, is a security process in which merchants provide two different authentication methods to verify themselves.

2FA is important because it better protects merchants’ information. Two-factor authentication provides a higher level of security than authentication methods that depend on single-factor authentication (SFA), in which the user provides only one factor -- typically, a password or passcode.


What is an OTP?

A one-time password or pin (OTP) is a password that is valid for only one login session or transaction, on a computer system or other digital device. OTPs are usually required for two-factor authentication and could either be an SMS/Email code or through an authenticator app. 


Why do I need two-factor authentication?

Two-factor authentication is important because it immediately reduces the risks associated with compromised passwords. When 2FA is enabled on your account and your password is hacked, guessed, or even phished, it is no longer enough to give an intruder access. 


How do I enable two-factor authentication on my Fincra account?

You can set up two factor authentication on your Fincra account by following these simple steps. 

  • Log in to your Fincra portal 

  • Navigate to the settings section of your portal, click on the drop-down menu and click on “portal settings”

  • Next click on security on the top right section of the page and then click on the on/off button to turn two factor authentication on. 

  • Next you will be asked how you want to receive the authentication code when signing in, either through an authenticator app or through email. 

  • For the authenticator app option, download the google Authenticator app and scan the QR code provided then enter the OTP generated by the app and click on “enable”

  • For the email option, confirm your email address and enter the OTP sent to that mail and click on “enable” and 2fa will be successfully enabled. 

  • You also have access to backup codes incase you lose access to your authentication device or email address. These codes are downloadable in a CSV file. 





What if I lose access to the email I set up to receive OTPs? 

If you happen to lose access to the email account you use for authentication, no need to worry, you have access to backup codes that you can use to log in. Note that it is only one sign in session per backup code


A video has been attached below to guide you on our Two Factor Authentication process.

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