The reality of our online world is that fraudsters remain ahead of the game year after year. More and more businesses, across all verticals, are experiencing high volumes of account opening fraud and account take over fraud — wreaking havoc to many organizations and their customers.
Legacy customer identity and access management (CIAM) platforms are slowly losing security efficacy as fraudsters now easily bypass controls that are many decades old. Businesses today have lost the capability and capacity to keep fraudsters out of their digital systems which is why new systems and techniques are essential to prevent fraud.
Modern CIAM brings together both strong security and identity in one — giving your business and customers uncompromising fraud prevention and delightful customer experiences.
See our on-demand webinar to find out how modern CIAM defeats complex ATOs. Transmit Security Principal Solutions Architect, Ian Sorbello explores the challenges that security, risk and fraud teams face and why modern CIAM, premised on both strong cybersecurity and better CX, should operate at the core of your business.
Traditional CIAM lacks multi-dimensional security context
Your customers’ identity and underlying security must be interwoven. In order to achieve this, your business needs a customizable identity store plus time-based, contextual security profile store.
Ian says, “It’s not just about who your customer is. It’s about how they’re accessing the application, when last did they log on, with what credentials and at what time? The next generation of CIAM is contextual.”
Previously, if a customer authenticated once, a business just assumed they were the intended customer. If a fraudster authenticates using phished credentials, then they become the assumed customer. It’s too easy.
Another problem is that authentication is one point in time, a singular event. But a security breach can happen at any point in the customer identity journey.
We must address the fact that there’s a spectrum of risk and trust at all times. The only way to end this type of scenario is by introducing context. Multi-dimensional security context should be at the core of any CIAM process.
By implementing a modern CIAM solution, all businesses will be able to:
- Correctly identify if a user is a real customer or a bot
- Prove a customer’s digital identity from the physical world
- Provide authentication assurance at the highest level possible
- Respond to fluctuating levels of risk and trust in real time
- Offer customers a seamless and simple identity experience
Why your business needs modern CIAM to defeat complex ATOs
Play the Why Modern CIAM Defeats Complex ATOs webinar where our Principal Solutions Architect, Ian Sorbello, explores challenges security, risk and fraud teams face and why modern CIAM, premised on both strong cyber security and better CX, should operate at the core of your business.
Ian shares insights based on his own first-hand experiences as a former lead security architect at a leading global bank. In this talk he covers:
- How CIAM has been difficult to build and deploy
- Why it’s slow to innovate CIAM and keeps identity costs high
- Why authentication is just one part of a complex identity puzzle
- The new bastion of cyber identity; coupling security with CIAM, for the ultimate service in customer account and application protection
Today, with Transmit Security modern CIAM is achievable without any compromise between security and customer experience (CX).
“In the past, it’s all been about compromise. We let go of a bit of CX for better security or we compromise security for the benefit of CX. That compromise has to be done away with — and it’s absolutely doable. Now you can have happy customers and a secure business.”Ian Sorbello