Top 5 Things CIOs Should Look For in Digital Identity

In 2020, consumer data is the most valuable asset for businesses, and cybercriminals are well aware of this fact. It’s no wonder that standards for protecting digital identities are one of the hottest topics today among CIOs and other executives.

Digital transformation is no longer optional. Your business either adapts and thrives, or stays the course and flounders. It’s as simple (and complex) as that. Every business is going digital, and it’s the role of the CIO to lead the vanguard when it comes to managing digital assets.

Digital Transformation: An Overview

The flip side is that digitization has also made us more vulnerable to cyberattacks. This is much more than a minor inconvenience. In fact, 60% of companies fail within six months of a cyberattack. It’s no wonder worldwide spending on cybersecurity is increasing.

In addition, users demand sovereignty over their data. They want to know how it is used, and they want the ability to control and revoke this data usage whenever they choose.

In order to stay competitive, every forward-thinking CIO needs to ensure that their company’s digital transformation initiatives are successful. This means safeguarding digital assets while winning and maintaining customer trust.

What The Latest Studies Indicate About Digital Identity

Consumers are becoming more digitally independent in the way they manage their lives. They value control over the management of their digital identities and research indicates that the best course of action is to simplify digital solutions to ensure that consumers feel more empowered.

Another study by Sunil Abraham, Indian technology policy analyst and Executive Director of the Centre for Internet and Society, drew from lessons learned from Canada’s approach to digital identity and e-governance.

His findings suggested that the digital identity systems that build trust are based on:

  1. Multi-stakeholder coordination
  2. A strong network paradigm
  3. A focus on open standards rather than specific technologies
  4. Clarity and predictability on intellectual property
  5. An openness to the latest technological developments

5 Things CIOs Should Look For In Digital Identity

Never Takes More Than You Need

Keeps Data Safe in Transit and at Rest

Limits Data Accessibility

Allows for More Secure Authentication

For example, start by investing in a system that allows for logging in without a password. Also consider Single Sign-On (SSO) systems, which allow you to use one ID and password for multiple related, yet independent, systems or web applications. This will help deliver a more secure and unified user experience.

Is Respectful of Customer Privacy

Final Thoughts

However, once digital homeostasis has been achieved, customer experience is elevated from the inside out. Best of all, this goes for both internal and external customers.

LoginRadius’ compliance-ready platform prepares your business for global data regulations while simultaneously fostering customer loyalty with its highly secure customer identity management features.

Make the first move by taking ownership of this important process. Define key building blocks in the customer experience and address them one at a time. Start with digital identity and get ready to lay the groundwork for future-proof systems that smooth the way for operational success!

CyberSecurity innovator and author. Developer at heart. Co-founder/CTO of @LoginRadius, 🇮🇳 learn more — https://guptadeepak.com