Yahoo! Inc. (NASDAQ:YHOO)’s Plan for Passwords

Yahoo! Inc. (NASDAQ:YHOO) has long declared war on legacy passwords, calling them a security risk and kicking off a process to do away with them on its various platforms. Through a mobile feature called Account Key, Yahoo allows you to sign in to Yahoo Mail without a password. It has now extended that privilege to several of its other apps including Yahoo Finance and Yahoo Sports.

Why is Yahoo killing password?

According to Yahoo! Inc. (NASDAQ:YHOO), passwords simply no longer guarantee account protection in the modern age. First, Yahoo feels that passwords complicate sign-in process, which ends up consuming more time than necessary.

Second, Yahoo believes that passwords introduce unnecessary hassle. You have to cram them in your head without which you can lose access to your account at a very critical moment. Some people have resorted to using easy-to-remember passwords to give them easy time when signing in to their accounts. But that introduces another layer of challenge as easy-to-remember password is also likely to be easy to forge, thus giving hackers a loophole.

Account Key notification

In a nutshell, Yahoo! Inc. (NASDAQ:YHOO) doesn’t like the vulnerability brought about by passwords. To replace passwords with a better security measure, Yahoo has come up with Account Key, which can be used across mobile and desktop.

If you have Account Key set up on your smartphone, sign-in is achieved through notification instead of a password. Account Key will detect your activity and ask whether you are trying to sign in to your account, if you say yes, you will be immediately signed in. You can also use Account Key to sign in on desktop.

Apps supported by Account Key

In the latest development, Yahoo! Inc. (NASDAQ:YHOO) has extended Account Key sign-in to Yahoo Messenger, Yahoo Sports, Yahoo Finance, Yahoo Fantasy in addition to Yahoo Mail that already had it. You can use Yahoo’s Account Key can be used on Apple’s iOS and Alphabet’s Android mobile platforms.

With Account Key, Yahoo! Inc. (NASDAQ:YHOO) believes it is giving users a simpler way to gain access to their accounts without compromising security.

Neha Gupta

Neha Gupta has been in the financial space for over six years now. Gupta earned her MBA degree from Symbiosis Centre of Distance Learning in 2009 and her passion for finance led her to pursue Chartered Financial Analyst (CFA) course. She has successfully completed Level II of her CFA. She is a veteran in article writing, which is depicted in her numerous pieces published on SeekingAlpha, Nextiphonenews, InsiderMonkey, MarketWatch, and Techinsider. Her crisp and eloquent writing finds its best place in Researchcows, where emphasis is given on developing rich content for various websites, products, business plans, trainings, and book writing.

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