What's New in Consumer Identity and Access Management?
Online companies are struggling to attract as well as retain the audience of new customers, sometimes ignoring the individual’s privacy too.
FREMONT, CA: It is the age where the digital native generations are reaching a point that has the most number of people with an income and are turning into influential consumers. The growth in numbers gives rise to a more significant amount of target audiences for an organization, all racing for the cash and business of the individuals for these generations.
Turning into digital natives symbolizes that they have grown up with the tech, intertwined in their lives. Tech is developing so fast that they desire to see anything and everything to be digitally available in a convenient manner. The smallest amount of interference in the online experience can become a significant obstruction in the development or can also be called a conversion killer. There are several other alternatives, which are just a simple search away.
The latest digital native generation is the first to get the experience of the actual meaning of it. The population has started to get aware of the downsides of a digital-first economy. Partly inflicted by the European GDPR, the enterprises realize that privacy is an enormous good that never tuned to be out-of-the-box. Data breaches are a part of the daily news, whereas online tracking is considered to be the new default. These generations have started to claim privacy and make choices depending on their requirements and desires, to have control over their identity.
Safer Password-less Authentication:
Different companies are now coming up with stronger and safer privacy designs, for example, the credit cards that do not have any personal data written on the card itself. Organizations have also introduced methods in which individuals can sign-in from the iOS IDs that give them access to browse through a pseudo ID over their real one. Besides, there are other ways in which people can protect their identities, such as signing in through one time links sent on their emails, eliminating the need to set up a password that restricts the impact of a potential data breach. Different methods of authentication can trickle down in the consumer domain faster.
Companies are offering relief to the consumers by providing them federated solutions with targeted solutions like media ID or bank ID. Trying to become the most frictionless experience possible, it offers options to the consumer to choose which service(s) they want to use to authenticate and share data accordingly.
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