Focus Area: Know Your Customer (KYC)

What is Know Your Customer (KYC)

In order to improve and tighten business relationships, today’s connected businesses need to communicate, collaborate and interact with their customers in a way that’s faster and suppler than ever before. Knowing consumers and their identities spot on also allows to optimally serve them.

To use this key to success in the era of digital transformation, enterprises today often think about employing Customer Identity & Access Management (CIAM), complementary to traditional IAM for employees and business partners. They often forget however that, forced by regulation authorities, they already use the strong tool KYC (Know Your Customer) in order to prevent, among others, money laundering.

KYC done right encompasses Customer Tracking & Marketing Automation as well as Analytics (Big Data) and Privacy & Information Protection and goes much further than CIAM. The term KYC is yet not really accurate, since it helps not only with knowing the customer, but also optimally serving him. Better would be the term Know & Serve Your Customer (KSYC), a proper evolutionary step of doing CRM and CIAM.

It requires a string of key enabling technologies, e.g. security and privacy enhancements, secure access to mobile and social logins, identity relationship management to understand how different identities are connected to each other, big data, up to blockchain, distributed ledgers and Life Management Platforms (LMPs). 

Latest Research, Upcoming Webinars and Events From
Know Your Customer (KYC)

Webinar

Consent Lifecycle Management: Consumer IAM’s Core Capability?

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. More

Executive View

Executive View: VeriClouds CredVerify™ - 72567

Securely authenticating users remains a thorny problem and VeriClouds CredVerify service can provide a useful additional level of assurance.  There are many approaches, products and services for user authentication however, the CredVerify service is unique in what it offers.   More

Webcast

From Dumb Cookies to Informed Consent: Privacy-by-design as a Strategic Requirement

This panel includes a look at the GDPR requirements, with an emphasis on the business opportunities for creating closer customer relationships when moving to informed consent; including the ability to potentially convince customers of moving to non-freemium models and paying for better service. We also consider the impact on how the customer journey will change to gain consent for additional purposes. More

Workshop

Dec 07, 2016: Der neue Datenschutz – Crashkurs für IT-Professionals

In weniger als eineinhalb Jahren tritt die neue Datenschutzgrundverordnung der EU (EU-DSGVO), besser bekannt unter der englischen Abkürzung GDPR (General Data Protection Regulation), in Kraft. Höchste Zeit also, sich mit den Veränderungen zu befassen, die dieses EU-weit geltende Gesetz bringen wird, und insbesondere mit dessen Auswirkungen auf die IT. Dieser eintägige Crashkurs macht Sie fit für die neue Datenschutz-Ära und bewahrt Sie vor unangenehmen Überraschungen. More

Latest News From Know Your Customer (KYC)

Webcast

From Dumb Cookies to Informed Consent: Privacy-by-design as a Strategic Requirement

This panel includes a look at the GDPR requirements, with an emphasis on the business opportunities for creating closer customer relationships when moving to informed consent; including the ability to potentially convince customers of moving to non-freemium models and paying for better…

Webcast

Consent Lifecycle Management: Consumer IAM’s Core Capability?

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…

Executive View

Executive View: VeriClouds CredVerify™ - 72567

Securely authenticating users remains a thorny problem and VeriClouds CredVerify service can provide a useful additional level of assurance.  There are many approaches, products and services for user authentication however, the CredVerify service is unique in what it offers.  

Blog

A Short History of EIC - Europe's Leading Event on Digital ID & Transformation

More than 12 years ago, the first EIC attracted an already surprisingly large number of practitioners dealing with directory services, user provisioning and single sign-on, as well as vendors, domain experts, thought leaders and analysts. I remember Dick Hardt giving an incredibly visionary…

Blog

Tomorrow’s Customer Journey Starts In The Buyer's Head

Guest post by Christian Goy, Co-founder and Managing Director of Behavioral Science Lab The world of customer journeys is a terrible mess. The linear path to purchase does not exist. “Predictable shopping patterns, once so fundamental to marketing and advertising strategy, have gone…

Executive View

Executive View: SecureAuth IdP - 71327

SecureAuth provides a strong, well-integrated set of identity management solutions covering Multi-Factor Authentication, Risk-based Adaptive Authentication, Single Sign-On, and User Self-Service.       

Blog

The Return of Authorization

Authorization is one of the key concepts and processes involved in security, both in the real world as well as the digital world.  Many formulations of the definition for authorization exist, and some are context dependent.  For IT security purposes, we’ll say authorization…

Webinar

Sep 12, 2017: Consent Lifecycle Management: Consumer IAM’s Core Capability?

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…

Leadership Brief

Leadership Brief: Cloud Provider Codes of Conduct and GDPR - 70276

Codes of Conduct  can help organizations choose between suppliers.   This report  compares two recently announced codes for cloud service providers and how  these relate to GDPR .

Leadership Compass

Leadership Compass: Identity as a Service: Cloud-based Provisioning, Access Governance and Federation (IDaaS B2E) - 70319

Leaders in innovation, product features, and market reach for Identity as a Service offerings targeting full Identity and Access Management and Governance capabilities for employees in hybrid environments, but also delivering Single Sign-On to the Cloud and providing support for other…

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Blog

Blog

Recapping CIW Seattle 2017

Last week we completed the opening dates on the Consumer Identity World Tour in Seattle.  To kick off the event, the Kantara Initiative held a one-day workshop to showcase the work that they do.  Kantara is an international standards organization which develops technical specifications [...]

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