Consent Lifecycle Management: Consumer IAM’s Core Capability?
- LANGUAGE: English DATE: Tuesday, September 12, 2017 TIME: 4:00pm CEST, 10:00am ET, 7:00am PT
2018 is going to be a hell of a year for nearly every organization operating within the European Union. Not only the dreaded General Data Protection Regulation (GDPR) will finally take effect next May, introducing massive changes to the way companies will have to deal with personal information (not to mention hefty fines for violations), January 2018 also marks the implementation date of the revised Payment Service Directive (PSD2), which will break the banks’ monopoly on their customers’ account information.
Both regulations introduce the notion of user consent to the domain of Consumer IAM. Soon, every company that collects and processes consumers’ personally identifiable information will face a completely new challenge of having to let their consumers to decide whether they agree to that processing or not at any time. Moreover, consumers will have a right to withdraw their consent, and organizations must comply or face severe penalties. Obtaining, tracking and revoking consent will therefore become a complicated technical, organizational and legal challenge, since traditional IAM systems completely lack this functionality.
Consent Management fundamentally changes the relationship between businesses and their customers. It changes the user journey. It might even change the entire business models, when consumers realize the value of their personal data and demand additional benefits in return. For companies, proving to their customers that collection of their data is in fact mutually beneficial is essential for Consent Management itself and for success of their businesses in general.
Thus, implementing Consent Lifecycle Management as a new component of an existing infrastructure requires thorough understanding of its business and legal aspects. However, it requires making a lot of careful decisions about technology aspects as well: whether to buy it or build it, deploy on-premises or in the cloud, plug into a CRM or an IAM system and so on.
In this webinar, you will learn about:
- New business challenges introduced by GDPR and PSD2
- Customer’s consent as a business driver, not a liability
- Understanding legal and compliance aspects of consent management
- Making the right design decisions about your future Consent Management Lifecycle Management
In the first part of the webinar, Martin Kuppinger, founder and Principal Analyst at KuppingerCole, will talk about the business aspects of Consent Management, explaining that it’s not primarily an IT topic, but a business challenge. GDPR requires bringing the right people to the table to reinvent the online consumer relationship.
In the second part, Corné van Rooij, VP Product at iWelcome, will describe conceptual building blocks for management of consent and its lifecycle. He will demonstrate how consent management grows into the daily business of your company and provide a deeper insight into the legal and compliance aspects of consent.
iWelcome provides Identity & Access Management as-a-service (IDaaS). We enable organisations to manage the identity lifecycle and the access rights of their consumers, workforce & business partners in a user friendly and secure manner, with European data residency. Our CIAM platform is rated ‘Excellent’ by Gartner and named ‘Product and Innovation Leader’ by KuppingerCole, due to our extensive GDPR support with a unique role for Consent Lifecycle Management.
For traditional or Business-to-Employee (B2E) IAM, HR departments are responsible for gathering documentation from employees to determine their suitability for employment. For Business-to-Consumer (B2C) or CIAM, identity proofing can be more difficult. Depending on the nature of the business, the attributes that need to be collected and verified can differ widely. For example, Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations govern the kinds of attributes and authoritative attributes that must be collected in the finance industry.
At the Consumer Identity World you learn how to balance the user experience, privacy, and security of your connected customer and how to enhance the customers' journey by leveraging Artificial Intelligence (AI) and Machine Learning (ML) to provide a superior and customized experience.