As hackers become more sophisticated, it is incumbent upon fund managers to find ways to prevent cyber breaches and protect their investors’ accounts and information. A crucial way to protect against breaches that involve stolen credentials or account compromise is the use of more than one factor to establish identity online – multi-factor authentication (MFA). This second article in our two-part series explores innovations in MFA, including those from the Fast Identity Online Alliance; the expectations of global regulators; resources and guidance for best practices; and how fund managers can economically implement an MFA system. The first article discussed the MFA landscape for the financial sector; strategies for ensuring both security and user friendliness; challenges that certain factors present; and the means to overcome those challenges. For more on cybersecurity issues facing investment managers, see our two-part series “Cyber Crisis Communication Plans: What Works and What Fund Managers Should Avoid”: Part One (Aug. 24, 2017); and Part Two (Sep. 7, 2017).