Can Digital ID Secure Your Company’s Sensitive Data?

The COVID-19 pandemic accelerated many technological shifts. The proliferation of technology usage has integrated cyber and physical spaces. However, this convergence has posed new challenges, especially cyber threats. Cyberattacks have created a greater need for securing confidential and sensitive information. Conventional methods of securing stakeholders’ and customers’ data have proved insufficient. It is here that digital identification (ID) plays a vital role. In this article at InformationWeek, John Edwards explains how digital identification is critical in building a more robust cybersecurity framework.

How Can Digital ID help Businesses?

Businesses in every industry today such as banking, retail, and hospitality are using digital infrastructure to connect with people. Digital identity verification is the natural progression. A digital ID comprises all the unique identifiers and user patterns that make it possible to detect individuals or their devices. “A combination of factors would be used to validate and continuously verify an individual’s identity throughout the duration of their interactions with a service,” says Edwards.

Creating and managing digital identities for end users, stakeholders, and employees help businesses in many ways.

Improves Efficiency

Creating a digital ID for each individual will safeguard your data while enhancing operational efficiency.

Minimizes Costs

Digital identities will help organizations drastically avoid litigation issues and, thus, minimizes costs.

Enhances Privacy and Security

With the proper digital identity management framework, you can improve your company’s security posture and the privacy of your IT infrastructure.

Boosts Customer Experience

With quick turnaround times and fewer touchpoints, you can be sure that your customers have a better and more enhanced experience.

Challenges of Implementing Digital ID

Even though digital identities offer several benefits, privacy concerns are a significant widescale adoption barrier. The creation of a digital identity involves using a person’s personal data. Users’ sensitive information in the wrong hands can prove dangerous. Furthermore, these fraudulent activities can make protecting a digital identity as cumbersome and cost-prohibitive as possible. To read the original article, click on https://www.informationweek.com/security-and-risk-strategy/digital-id-technology-promises-stronger-security.

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