Multi-factor authentication adds an additional layer of security that helps protect your confidential data. Many of your online accounts or software applications are currently protected by a login and password. That password is the single factor in the authentication process — the way that those applications or services confirm your identity.
Multi-factor authentication adds at least one more layer of identity verification to that process so your protection against hacking and fraud attempts is stronger and more secure than a simple password. That additional layer can take many forms, such as a physical ID card, a digital confirmation code, or even your fingerprint. You're using multi-factor authentication every time you pay a transaction using a debit card or withdraw cash from an ATM: your debit card is one factor and your PIN is another.