Identity security solutions can help your company deliver more trusted and personalized customer experiences.
The future is coming on fast: Spurred by sudden, rapid shifts to digital and online solutions, e-commerce recently experienced 10 years’ worth of growth in just 90 days, according to consulting firm McKinsey & Company. Moreover, just as data has become the lifeblood of modern business, digital identity has suddenly emerged as the currency of the virtual realm.
It all starts with giving users the power to easily answer the question “Who are you?” Identity security solutions allow organizations to seamlessly authenticate users as they travel across an array of apps, networks, and cloud providers with minimal friction. In higher-risk scenarios, like applying for a loan or logging in from a new location, customers can verify their identities by scanning IDs or more securely prove who they are with multi-factor authentication. In either case, customers quickly get access to their accounts, no matter where they’re coming from.
Organizations can then track countless variables associated with their customers’ identities—including location, shopping preferences, and login history—to deliver personalized experiences and reduce risk at every turn. All the while, identity security keeps customer data secure and gives customers control over how their data is shared. Since four in 10 customers say they will turn to competitors if they have just one bad experience with a brand, getting this right is critical. Identity security makes it possible to deliver amazing experiences, quickly build confidence among audiences, and keep the wheels of online business spinning.
“Identity is a foundational component of the online economy, and identity security will only continue to define the future of customer experience and online security going forward,” explains Andre Durand, CEO of Ping Identity, a leading provider of enterprise-level identity security solutions. “Virtually every online transaction and exchange today needs to be authenticated; without the ability to verify a user’s identity, hundreds of everyday transactions cease to work. Put simply, customers want to enjoy access to fast, frictionless experiences at every turn. At the same time, companies also need access to technology tools that can quickly verify these individuals’ identities, work seamlessly with any cloud or IT framework, and allow them to leverage identity-based functions however they desire.”
From telemedicine appointments to online banking, optimizing registration and sign-on processes for end users is now easier and faster than ever for enterprises. But, at the same time, two-thirds of shoppers say the safety of their transactions and information is a growing concern. As a result, businesses are leveraging the power of identity to effortlessly secure every online exchange to help customers interact and transact with confidence—thereby minimizing abandonment and maximizing revenue.
“Our entire online world is built on a house of digital cards if we don’t have strong identity capabilities,” Durand warns. “You can’t secure what you can’t identify, making it critical for enterprises to tap into identity security solutions that are persistent, well integrated, and compatible across an array of both historical and emerging technology platforms.”
That’s why a growing range of industry leaders, from health care to technology giants, are leveraging these tools to help users identify themselves and securely share information, drive customer loyalty, and create legions of devoted fans. Thanks to identity security solutions, leading fast-food chains now have mobile apps that can remember shoppers’ ordering preferences and help hungry buyers quickly locate nearby stores. Luxury vehicles can leverage these capabilities to automatically identify users and adjust radio stations and seat settings to individual drivers’ tastes. Leading banks use this technology to securely identify clients, and top telcos employ it to get smarter on customer support calls. The possibilities for innovation powered by identity security only continue to grow and become ever more accessible right out of the box.
Knowing this, the coming months won’t just bring smart TVs capable of personalizing channel lineups and settings by using biometrics to recognize your voice—they’ll also usher in dozens of financial technology apps that can verify your identity by scanning photos of your government-issued ID. “Identity security solutions make establishing new relationships with customers and maximizing existing relationships with current clients much easier and far more secure,” Durand notes. “A great customer experience is based on mutual trust and familiarity, and the ability to tap into these tools makes it possible for businesses and brands to get to know their clients much better.”
To learn more, visit pingidentity.com.