Ensure Data Privacy with Customer Identity Management Solution
One of the major challenges faced by businesses today is Data Security. As businesses grow, the use of multiple software also increases and Data Security is a crucial concern. For ensuring smooth operations, enterprises must have a strong Customer Identity Management Strategy in place to protect customer information with Customer Identity Management (CIM).
With remote and virtual workforce being the norm during these COVID times, CIM has gained a lot of traction with the corporates, owing to the increased use of multiple devices and platforms. However, this has also led to the associated risks of data breach and have raised a question on Data Privacy.
In today's digital world the survival of the businesses depends on quickly adapting to the new changes in the market trends, which will have an impact on Clients, Vendors, staff, systems and also on Data Security.
Customer Identity Management helps secure remote operations especially during these COVID times. In the recent past from March to June, hackers have taken advantage of COVID-19, targeting both enterprises and consumers. The recent statistics reveal that "Seven in 10 employees are working from home". Here's where "Data Security" and Customer Identity Management Solution play a crucial role. CIM is used to protect sensitive information from threats like Hacking, Phishing and malware attacks. It eliminates data redundancy and creates a single identity for each customer.
According to the statistics predicted by CYBERSECURITY VENTURES, for the year 2019, "With the growing proliferation of ransomware, organizations are struggling to outpace the criminals. In 2019, Cybersecurity Ventures predicted that global damages related to ransomware will reach $11.5 billion and prior to that was $8 billion. Sonicwall has reported a 300% year-over-year growth in ransomware" ( Ref: https://bit.ly/3ljJKbQ ) . According to a study by the Ponemon institute, "Globally the average total cost to a company of a data breach is $3.86 million, which is 148$ per a stolen record which is a big scope for Hackers to make money due to Data Breach."
We all have heard of unethical practices that aim at stealing sensitive information, and personal or corporate data. Any data being accessed without authorized permissions is a Data Breach. This can have a severe effect on businesses, their reputation and standing with customers. On one hand technology is dynamically evolving, unfortunately, on the other hand, cyber-attacks have also increased.
So, how can organizations protect themselves from Cyber Attacks?
Customer Identity Management software helps us to eliminate data redundancy and create a single identity for each customer. Watch Video :
Advantages of Customer Identity Management powered by UniServe™ NXT:
- Deploy consent capture mechanisms through multiple channels.
- Data can be associated with the single identity of the customer, creating policy-based access control management.
- Enable relevant user authorizations to view and analyze data using our platform's built-in capabilities.
- Alert relevant stakeholders on data breaches and take quick action.
- We ensure compliance to user privacy regulations like GDPR.
- GDPR Regulation Compliance: It offers persistent, and trusted versions of customer identity data. The data meets or exceeds relevant regulatory concerns.
- Revenue Improving Efficiency: Having a single view of your customer and home ID lets you connect related people across lines of business to generate customer loyalty.
- Connected Customer Experiences: We streamline data from multiple applications and devices to help improve customer experience.
- Great Control of your Customer Data: Enterprises can map Customer Information across applications, and business processes to identify how, where and when the personal data is being used.
The solution built on UniServe™ NXT enables data protection that defines access control policies, captures customer consent from multiple channels and integrates with multiple systems like CRM, Billing, and ERP to ensure execution of the defined policies. It also sends Data breach reports to relevant people including customers and ensures the data portability of customer's Information in a secure way.
With Customer Identity Solution built on UniServe™ NXT you can monetize customer data by leveraging data. Our comprehensive, configurable business process layers above legacy systems to create personalized relationships with each user. Send contextual third party messages to promote additional value. Integrate all your digital properties, including web and mobile apps, to build a connected experience through the deployment of unified customer identity data. It manages customer identities across multiple lines of business, eliminating the need for engineering resources to dedicate manpower to the task.
UniServe™ NXT, an innovative platform that delivers superior customer experience, allows a 360 degree view of all customer interactions and communications, and empowers all your stakeholders. Watch Video to know more :