Digital Identity and Businesses are now going hand in hand. From Big businesses with offices on multiple locations to small or medium scale businesses, somewhere they too are associated with Digital Identity Evolution. Now it has became an important part of every business.
What is a Digital Identity ?
Whenever we use online services, whether it is an ecommerce or a web app, we need to have our online representation, our online identity to show our existence in a secured manner. A digital identity is a collection of different data points in relation to service provider. Only that information is provided which is necessary to complete a transaction.
The most used data points in digital identity are personal information like name, address. demographic information like age, marital status. Medical information like ongoing medical conditions, history and financial information line bank account details, credit history etc.
How Digital Identity Management is influencing Businesses?
One of the biggest example of implementation of Digital Identity is Customer Identity Management Platform. A cIAM platform helps managing identities of customers and storing them securely. Irrespective of source of gathering of user credentials, cIAM manages whole registration and data collection process. Along with it, it also generate insights from customer registration data.
In businesses, data is interlinked to each other. From an employee ID to customer’s registration, everything revolves around a single identity which carries whole other data points, a group of information associated with that single id.
A perfect example for the Identity is an Social Security Number. It has a unique number for every single person and with that number one can have access to medical history, personal information, tax information etc.
Same is the digital identity but is associated with a single business or a corporation. With digitalized identities customers receive instantaneous, relevant delivery Services and Products.
Implementation of digital Identity with business has proved to be a boon not in terms of sales and growth but also productivity.