The role of consumer identity management in the business world is undeniable. In the past, identity was primarily used as a deciding factor to authenticate transactions. If people were successful in verifying who they were, their transactions were approved.
Today, identity is more than just about security. It drives businesses’ trust, customer experience, emotional connection, and brand value. And, that’s incredibly enticing to a Chief Marketing Officer (CMO).
But many of the emerging applications of identity are also posing serious concerns with Chief Information Officers (CIOs) and CISOs. Remediating those threats could mean CMOs having to compromise with customer experience—something they have been working so hard to improve.
So, now the question arises. Can a CMO, CIO, and CISO work as a team when they crossroads? It turns out, they can (for the greater good of an enterprise).
An example is how these C-suite professionals are treating identity as a shared cornerstone that keeps consumers engaged and vulnerabilities under control.
Importance of Consumer IAM
A modern-day consumer identity management (CIAM) platform safely collects and maintains consumer identity and profile data, along with securing access to software, devices, and other services in the network. This is a reason why CMOs, CISOs, and CIOs of large enterprises see CIAM as a business enabler.
CIAM is the solution that directly controls your experiences with consumers. Elements like registration, authentication, account management, consent and preference management, and consumer data security take the lead to the most extent.
The C-suite security, information, and marketing leaders advocate CIAM platforms that are seamless and consistent across multiple devices and touchpoints.
A few other features they look for include:
- A single view of consumer: The CIAM platform shouldn’t create data silos across repositories and departments. It should rather offer a single, holistic view of consumer identities and behaviors on its platform. For example, you should be able to create a comprehensive profile of each consumer with exclusive details like purchase histories, usage, buying trends, and more.
- Omni-channel consumer experience: It involves a credible registration process that can be performed and completed on multiple devices and establish credentials for login and authentication, which also operates on multiple channels.
- Added security: The evolution of 2FA/MFA (multi-factor authentication) with features like biometrics, geo-location, facial recognition, etc. has been offering improved levels of security. These features make it easier to detect anomalies and unusual activities in a more fuss-free manner.
- Privacy and regulatory compliance: With the popularity of regulations like the GDPR and CCPA catching up, data privacy has become an indispensable part of a consumer identity management solution. So, when executives look for one, they make sure the platform offers consumers control over their data and retract any permission based on their preferences.
Cyber Risk for CMOs CIOs and CISOs
In the past, cyber risks were often viewed as highly technical. Earlier leaders used to perceive security threats as an IT issue, but that’s not the case today.
Now, there is a shift in executives and board directors’ mindset. They perceive cybersecurity as a vital element of enterprises’ business strategies.
When a cybercrime happens, it takes away much more than just consumer data. From finances to brand reputation, everything is at stake.
Therefore, cybersecurity is a critical problem for the boardroom, and every organizational stakeholder is focusing their attention on it.
It takes equal effort from CIOs, CSOs, and CISOs to mitigate the architectural complexities that cybercriminals prey on. To get a headstart, the security team can develop holistic frameworks that can be later adopted and extended across the board.
How Consumer Identity Management meets CIO, CMO, CISO Goals
While the CISO looks to find security loopholes in an enterprise, the CIO aims to implement new services and leverage benefits. The CMO is on the front line of dealing with brand value and consumer data.
With such diverse job roles, consumer identity management can still meet the CIO, CMO, CISO’s goals. Wondering how? Here are five ways:
Enables secure access anywhere
As the new “work from anywhere” situation continues to intensify, consumers and employees are becoming the new parameters for security.
A consumer identity management platform adopts a holistic approach to help enterprises manage, monitor, and verify all users, accounts, or devices attempting to access the enterprises’ infrastructure.
Complies with privacy regulations
With the regulatory landscape becoming denser than ever, consumers are particular about their data sharing and preference protocols.
Consumer identity and access management have become a growing priority for security, information, and marketing leaders. They want their enterprises to be compliant with global regulations and enforces strict data sharing laws across multiple vendors, platforms, and channels.
Prioritizes security risks and patches them
Cybercriminals can easily hack into enterprises because the latter aren’t mostly competent in applying patches to known vulnerabilities. Board members and security executives should not only be responsible for identifying risks but also to reduce them.
A CIAM platform helps these professionals prioritize risks and implement the right fixes with features like multi-factor authentication, passwordless login, single sign-on (SSO), and more.
Scalability and speed innovation
Another crucial implementation that CIOs, CMOs, and CISOs agree upon is the need for consistent availability and up to zero downtime.
A consumer identity management solution offers scalability that possibly demonstrates a frankly extreme degree. It is always ready for potential surges and dips in consumer activities.
Improves consumer experience
Good experiences call for happy consumers. A consumer identity management platform offers all the features to revolutionize consumer experience in every possible way. They also add up to more revenue and lower acquisition costs.
For instance, with a seamless login experience, CIAM encourages consumers to try all the enterprise’s digital offerings. This way, consumers are more embedded in a digital space without extra effort. Other examples include the addition of advanced analytics, integration, unified consumer view, and more.
LoginRadius Identity Management for CIO, CISO, and CMO
LoginRadius is a comprehensive, streamlined consumer identity management solution that helps stakeholders of large enterprises to drive automation, authentication, effective compliance, among other requirements.
The consumer identity management platform lets CIOs, CISOs, and CMOs to manage identities on-the-go while operating complex ecosystems. Some of the features include:
- A unified view of each consumer: LoginRadius offers a single view of each consumer with the data gathered from all services and website touchpoints. This data comes handy while monitoring consumer journeys across diverse applications and services.
CMOs and their team can create marketing personas that reflect consumers and entice them with special offers.
- Advanced options for login: The consumer identity management platform offers a plethora of new and advanced login options to help enterprises gain a competitive advantage over others.
Examples include passwordless login that replaces password with a one-time link and smart login that delegates the authentication process to other devices.
It also offers social login that allows consumers to authenticate via their social accounts. In fact, it is one of the most common and seamless ways of letting consumers access enterprises’ services.
- Optimized data collection: As consumers become more cautious about sharing their data, enterprises can leverage the LoginRadius CIAM platform to seamlessly collect information about them.
An example of how it does is progressive profiling. The consumer identity management platform allows enterprises to collect consumer data from different touchpoints throughout the consumer journey.
For instance, they can start by building a basic profile with the details captured during login. Later, as they navigate the application, they can keep asking for more information (without making it compulsory).
- Security Compliance: The favorite feature of a CIO and CISO, LoginRadius, helps meet security compliance globally. The consumer identity management platform is certified by third-party security standards like AICPA SOC 2, ISAE 3000, Cloud Security Alliance, and Privacy Shield.
Other compliances include the CCPA and the GDPR for enterprises to meet consumer preference and location-specific regulations, wherever they do business.
Consumer behavior has never been static—nor have their expectations. A consumer identity management solution can be a strategic asset for CIOs, CISOs, and CMOs to use it to their advantage in their respective departments. Speaking of possibilities, they are endless here.
*** This is a Security Bloggers Network syndicated blog from Identity Blog authored by lrshivangini. Read the original post at: https://www.loginradius.com/blog/2020/09/consumer-identity-management-cmo-ciso-cio/