Two-factor authentication (2FA) is a type of authentication that requires users to provide two or

more forms of verification to access an online account. 2FA is a multi-layered security measure

designed to prevent hackers from accessing user accounts using stolen or shared credentials. 2FA

typically combines something the user knows (such as a password or PIN), something the user has

(such as a phone or a token), and/or something the user is (such as a fingerprint or a face scan). In

the above scenario, the banking application employs 2FA by asking Kevin to enter his registered

credentials (something he knows) and an OTP sent to his mobile (something he has) before

transferring the amount to Flora’s account. Reference:

Improve Your Cybersecurity with Password MFA - Defense.com™

What Is Two-Factor Authentication (2FA)? | Microsoft Security

Selecting Secure Multi-factor Authentication Solutions