Secure multimodal mobile authentication using one time password

Today security concerns are on the rise in all areas such as banks, governmental applications, healthcare industry, military organization, educational institutions, etc. Government organizations are setting standards, passing laws and forcing organizations and agencies to comply with these standards with noncompliance being met with wide-ranging consequences. There are several issues when it comes to security concerns in these numerous and varying industries with one common weak link being passwords. Most systems today rely on static passwords to verify the user's identity. However, such passwords come with major management security concerns. Users tend to use easy-to-guess passwords, use the same password in multiple accounts, write the passwords or store them on their machines, etc.