Implementing Multi-Factor Authentication For Modern Treasury Users

At Modern Treasury, companies trust us with their most critical financial data—and we take that trust seriously. Protecting sensitive information is at the core of our commitment to best-in-class security. As the cyber threat landscape evolves, Multi-Factor Authentication (MFA) is no longer optional—it’s essential. This change strengthens our security perimeter and ensures that Modern Treasury remains a secure, reliable partner.

The Risks of Relying on Passwords Alone

Passwords are inherently weak. Employees often reuse credentials, attackers exploit phishing scams, and breaches expose millions of passwords yearly. Lists of commonly used passwords are readily available online, making it easy for malicious actors to attempt unauthorized access. Even with strong password policies, stolen credentials remain a leading cause of security incidents.

Recent investigations by CrowdStrike and Mandiant reinforce this reality. Their findings confirm that attackers increasingly leverage stolen credentials rather than breaching infrastructure directly. This underscores the importance of MFA as a frontline defense.

Strengthening Security with MFA

MFA significantly reduces risk by requiring an additional verification factor, such as a one-time passcode or biometric authentication. Even if an attacker obtains a password, they can’t access the system without the second factor.

To advance our security posture, Modern Treasury is implementing MFA by default:

• Enforcement: Admins can now enable MFA for all users in their organization rather than one at a time.
• Guided setup: Once enabled, users not on Single Sign On (SSO) will receive prompts to enable MFA at their next login. More details here.
• Default MFA: All new organizations created will have MFA enabled by default.

Phased Rollout

To help customers transition smoothly, Modern Treasury will roll out MFA in phases:

• Phase 1 (March 2025): Migration tooling released alongside the MFA migration announcement. Customers should review the tooling and begin planning their migration.
• Phase 2 (April 2025): MFA by default for all new organizations that do not use SSO.
• Phase 3 (June 2025): MFA is required for all password logins. Modern Treasury will work with organizations that haven’t migrated by June to establish a timeline.

Protecting Your Data, Strengthening Our Perimeter

By making MFA the default standard, Modern Treasury is strengthening our commitment to safeguarding customer data. As cyber threats continue to evolve, proactive measures like MFA help businesses mitigate risk and maintain the highest levels of security. For more information, please reach out to your Customer Success Manager.