Ways to Win Customer Trust Through Digital Identity Management!

Introduction:

It is usual for businesses to be concerned or intimidated by digital identity management Many companies need a clearer understanding of how their customer's process and manage their identity Sometimes, it is hard to understand where customers collect and store their personal information To recognize the importance of digital identity management, we must first identify its importance in the business world. Digital identity management includes how customer data is accessed, how it is stored and synced between entities, and what controls are in place to ensure security is maintained at all times

Why is Digital Identity Management Important?

In today's world, we're all connected. We want to keep in touch with our friends and loved ones, do business globally, and keep up with the latest news, which has resulted in an enormous amount of data being created and stored online daily But where there is value, there is also risk The amount of information being stored digitally has increased the risk for businesses that collect or store customer data, leading to increasing cyber-attacks (and global events such as Wannacry) happening daily.

The 5 Gold Standards To Help Businesses Win Customer Trust:

1. Collect only what’s needed:

Businesses often collect a great deal of customer data during the registration process Collecting unnecessary data will frustrate customers and cause them to abandon registration as it slows down the process and feels intrusive. If you do not consider if/why/how you will use all of the data or determine when it is appropriate to collect it, you may find that you are wasting resources and increasing the risk of identity theft

2. Invest in data encryption and hashing:

When data is in transit, it's at its most vulnerable This is why encryption in transit is crucial to data protection Likewise, encryption at rest is necessary for data governance and compliance efforts. When it comes to hackers, anything that has been coded can be decoded. Thus, one-way hashing should be used for safeguarding sensitive data like passwords

3. Limit access to data:

Not all data is in use continuously. That's why sensitive customer data should not be accessible to everyone all the time Field-level encryption allows you to set up access based on an individual's role, so only authorized access can see this information In other words, field-level encryption is the ability to encrypt data within specific data fields so that it cannot be read by anyone who lacks access or the keys needed to decrypt this data

4. Require safer authentication:

Although some users know how digital identity verification impacts security, many are not Investing in systems that enable higher levels of passwordless login is essential to reduce risk. One method of passwordless login is multi-factor authentication (MFA), which uses an SMS or a call-in code and an email link as extra layers of security.

Another method of passwordless login is risk-based authentication (RBA), which recognizes user patterns and alerts your system if this pattern suddenly changes. For example, if someone tries to log in from a foreign country or new IP address, an email will be sent to the registered user asking them to validate the action.

5. Respect your Customers:

In the past, businesses were not very respectful of customer privacy But customers demanded better, and compliance regulations were born Compliance regulations require companies to communicate with customers about why their data is collected, by whom, and what will be done with it They also demand that customers consent before their data can be collected

Conclusion:

Data privacy is at the forefront of privacy laws and rightfully so With so many data breaches, it's essential to be proactive with your customer information This includes collecting only what is necessary, storing it safely, and proactively making changes if security vulnerabilities arise. It also includes ensuring that you have integrations with competent partners that can be relied upon to perform their duties under any conditions; to have your customers' back as customer data privacy laws are updated and enforced

CIAM is the best solution for handling secure user and customer data. And the best part? CIAM manages the compliance needs of companies large and small across all verticals so you can focus on what's important: your business