Customer identity and access management (CIAM) allows your company to securely capture as well as manage the identity and profile data of your customers. Also, it controls access of customers to applications and services. A dependable CIAM solution often offers a combination of features that include customer registration, consent and preference management, multi-factor authentication, self-service account management, and others. The best solution makes sure your customers will have a secure and seamless experience regardless of the devices they use when engaging with your brand. Given all these capabilities, your organisation should recognise the importance of CIAM solutions.
If your company is like others, you probably have an identity access management (IAM) solution for employees. However, these solutions may not be enough to meet the requirements of customer identity management.
Here’s why CIAM is important to your company:
It Ensures your Customers Has Seamless Experience
These days, customer access is more than just web applications. It already includes mobile, partner, and IoT applications. CIAM allows for simplified access and unified customer profiles. As a result, companies can engage their customers in a personalised level, giving them a seamless experience with their brand.
It Effectively Secures Customer Data
The increasing cases of data breaches have left a lot of companies not sure about their ability to protect their customer data. CIAM solutions provide effective security from authentication to the data layer to minimise the risk of losing the trust of their customers which will lead to revenue loss and damaged reputation.
It can Help Address Scalability Problems
The increasing number of applications, websites, services, and customers leads to a significant increase in collected data. Additionally, a lot of customer-facing industries and vertical markets have to deal with high customer demand because of reasons such as seasonality. As a result, organisations deal with scalability issues. Fortunately, a robust CIAM solution can help address this.
It Ensures Regulatory Compliance
Information sharing allows for easier and more personalised interactions. However, even if customers share their personal information with companies, they are still concerned about data privacy. CIAM should offer customers insight and control over where companies use and share their data. Also, it enforces customer consent to adhere to the new General Data Protection Regulation.
As a business owner, you know that customers have a choice. They will easily switch service providers or product suppliers if their current partner is not meeting their expectations. Customer IAM covers a range of capabilities to help your company deliver the right balance of strong data security and seamless customer experience.