Explanation –

• Enhancing security: This is a primary benefit of AFA. By requiring an additional, dynamically created authentication factor, AFA significantly enhances the security of digital transactions.
• Increasing transaction speed: AFA typically involves additional steps for authentication, which might actually slow down the transaction process rather than speed it up. Therefore, increasing transaction speed is not a benefit of AFA.
• Reducing operational costs: Implementing AFA usually involves additional technology and processes, which might initially increase operational costs. While it could potentially reduce costs associated with fraud over time, this is not a direct or immediate benefit.
• Strengthening privacy: AFA can help strengthen privacy by ensuring that only authorized users can complete transactions, thereby protecting personal and financial information.

Source: The Hindu