CIAM or Customer Identity and Access Management lets the companies to securely capture and handle the customer identity and profile data and control the customer access to apps and services. Robust Customer Identity Management solutions give a combination of the features entailing customer registration, consent and preference management, self-service account management, multi factor authentication or MFA, single sign on or SSO, access management, directory services and data access governance. The ideal CIAM solution guarantees a secure and a seamless customer experience at a huge scale and performance no matter which channels are used to interact with the brand. The gist is to establish a simple customer experience into a legible customer engagement.
Why is CIAM important?
Customers have the free will to select whom they decide to do business with and they aren’t fearful of going elsewhere if the experience doesn’t match the standards. An ideal customer experience is no longer a nice thing to have, it is a mere differentiator. According to a survey, 86 percent of buyers spend more for a better experience, whereas 1 percent of the customers believe that their vendors always meet their expectations.
Customers are also immensely concerned about security issues. Data breaches are now well publicized and tend to severely damage the customer trust. A report claims that 22 percent of the breached companies in the year of 2016 lost customers. 40 percent of them lost more than one fifth of their customer base. The Customer IAM is entirely based on balancing the customer experience and security and being very keen about not sacrificing one when you are in pursuit of another.
Almost every company has an IAM solution for their workforce, but they are often incomplete for the needs of managing the customer identities. The employee IAM solutions usually lack features that tend to balance the security and convenience of a superb customer experience and they are way too limited to manage the scale, performance and other customer based needs like consent and privacy management. We have listed some exceptional product needs and business drivers of the CIAM.
- Seamless customer experiences
- Security requirements
- Performance and scalability
- Privacy and regulatory compliance
What does a CIAM do?
- Let the customers in
- Recognize the customers
- Protect them from all cybersecurity attacks.
If you are interested in learning about the security measures of CIAM, feel free to get in touch with us today!