Multi-factor authentication (MFA) in Azure significantly enhances security by requiring users to provide two or more verification factors. This approach is particularly beneficial for financial institutions handling sensitive data, as it mitigates risks associated with unauthorized access. The combination of knowledge (password), possession (mobile device), and inherence (biometric verification) factors offers a robust security layer that complies with regulatory requirements and is scalable for a global workforce, including remote employees. Option A is incorrect because MFA in Azure supports more than just password and PIN verification, offering substantial security enhancements. Option B correctly identifies the comprehensive security measures provided by Azure MFA. Option E is also correct as it highlights the flexibility of Azure MFA, which can be configured to use mobile apps or phone calls for verification, eliminating the need for physical tokens. Options C and D present inaccurate limitations of Azure MFA, as it is effective for both internal and external users and does not solely rely on physical tokens.