Every interaction you have with your customer is an opportunity to build trust, loyalty and create value - both for them and your business.
Identity should not just be the secure entrypoint to your services - it should capture and enable your customer’s entire experience of your services.
From cost prevention to value creation
Identity and access management has traditionally been considered a defense mechanism - with value framed in terms of preventing cost to the business from incidents or breaches.
But there is a significant untapped value for customer interaction, orchestrated and captured by an identity fabric, to drive value for your business and customers.
Connecting and enriching each interation with contextualized data, can unlock hidden insights and provide a more holistic view of your customer.
Harnessing this enriched data creates identity knowledge. This knowledge is rich with opportunities to drive value for your business and build trust with your customers.
Knowledge builds trust
How much your customers trust you directly impacts on attraction and retention. Trust builds loyalty, which can be the difference between market share growth and loss.
Your IAM system is a direct interface you have with your customers and every interaction matters.
A knowledge driven IAM system can signal to your customers that security is not an afterthought by requiring all users to be authenticated, authorized and continuously validated without compromising on the customer experience.
Offering your customers the opportunity to own their own data and to choose when to share it, offers an unparalleled level of privacy. You can then invite customers to share their data when it offers a clear benefit to them, enabling you to personalize services and enhance their experience. With semantic and non-PII data driving their experience, the customer can limit sharing and still enjoy many benefits of your tailored service. This meets the duality of the customer’s desire: frictionless and personalized interaction, that is secure and private (without their data being used ‘against’ them).
Knowledge creates opportunity
Most businesses know they are sitting on valuable semantic data but the underlying rigid data structure doesn’t allow them to move beyond their current ways of working.
Even if they did have the ambition to repurpose this data, they are limited in the ways they can use it across many areas of the business, and at scale.
Using a knowledge graph to structure and enrich data and enable connection with other data stores within your brand, can dramatically extend the value of that data.
You can then put that data to work, driving advanced and dynamic authorization at scale, reducing costs such as payment service fees, or even real-time threat and risk detection.
The best part is there is no need to rip and replace your existing infrastructure, IndyKite’s knowledge driven identity platform can be deployed on top as a data orchestration layer. This layer can ingest and glean identity knowledge from various systems in a dynamic and flexible data structure, harvesting valuable knowledge for your business.
Interested in learning more? Check out our recent webinars or get in touch.
