Okta & BeyondID Panel Discussion
September, 2021
Okta and BeyondID recently sponsored a panel discussion on CIAM (Customer Identity Access Management) to share insights on the best approaches to CIAM solutions. It included customers who are currently engaged in a CIAM implementation as well as those who are in the early stages of putting an overall plan in place.
Panel attendees included:
Jake Randall, VP CIAM, Okta (moderator)
John Gallo, VP Infrastructure & Information Security, TDECU (Texas Dow Employees Credit Union)
Peter Bierfeldt, CISO, Accrete AI
Mike Walsh, Director of Security, Lyra Health
Neeraj Methi, VP Solutions, BeyondID
They examined several issues for defining and deploying a comprehensive CIAM solution, including creating a single portal, delivering a seamless customer experience, securing sensitive data and understanding the technical requirements involved.
So, why is a comprehensive CIAM strategy so important? There are a variety of reasons why your organization should have a clear CIAM plan but three stand out:
- Customers want an engaging experience with your brand while keeping their identity protected
- The ability to deliver an omnichannel experience to a variety of digital devices and applications
- Protecting the customer and your organization from security breaches, ransomware and cyberattacks
The customer experience is at the center of a sound CIAM strategy. With the right approach, you can give your customers the things they really want – a great user experience, ease of access from any device and protection of their data. Those are the real benefits of CIAM.
The importance of delighting your customers also has a direct impact on your bottom line. Customers have little (or no) patience for filling out complicated registration forms, remembering multiple passwords or having to start the process over when switching devices. Brand loyalty is short-lived if the experience is frustrating.
According to PwC, 32% of all customers would stop doing business with a brand they loved after one bad experience. After several bad experiences, 59% will walk away. Among all customers, 73% point to experience as an important factor in their purchasing decisions, behind price and product quality.
A robust CIAM strategy and plan can become a competitive advantage for your organization. By meeting the experience expectations of your customers in a safe, secure environment, you will be able to attract new customers, retain the ones who are already brand loyal and drive more revenue as a result
