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).
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Know Your Customer (KYC)
Managing Authentication and Access for Different Identities in Hybrid Environments
The Digital Transformation is driving enterprises in all geographies and throughout most verticals to become open and connected. These enterprises need to digitally engage with their customers, to technologically empower and mobilize their employees, to optimize their current business processes and to ultimately transform their products. At the same time, large-scale cyberattacks and wrongful exploitation of personal data has reached an all-time high and the associated risks are further increasing.
Excutive View: Imprivata - 71514
On October 24, 2017, Imprivata significantly enhanced their healthcare-focused enterprise SSO offering with Identity Provisioning and Access Governance capabilities acquired from Caradigm. With that offering they are broadening their portfolio while remaining focused on the healthcare market segment.
The Evolution of Identity Governance: From Basic Compliance to Federated Security Assurance
As the number of business applications across different platforms and environments is rapidly growing, the resulting complexity and heterogeneous nature of modern corporate IT infrastructures makes storing, analyzing and protecting this critical business information an incredibly complicated task. Nowadays, data may be spread across multiple networks and systems in a broad range of formats (structured and unstructured), accessed by a large number of users (not just employees, but contractors, partners and even customers) from multiple device platforms and governed by a wide range of...
Consumer Identity World Tour 2018
The Consumer Identity World Tour is the place where you get input for your perfect CIAM Strategy. Learn more about Privacy by Design, Consent Life Cycle Management and the needs of your customers. Get to know how to secure their personal information in a strategic and user-friendly way.
Latest News From Know Your Customer (KYC)
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RSA’s 2018 Conference Starts Bi-Polar and Ends with a Minor Breach
It is a world of great turmoil and considerable fear amidst incredible human progress. No wonder the RSA keynotes seemed bi-polar - mixing fear one moment, hope and inspiration the next. RSA opened with a somber act from rapper poet Kevin Olusola to the conference theme: "Now [...]