Personal identity security
Personal identity security
Technological advancements in the digital space has revolutionized every aspect of our lives, from shopping to collaborating with colleagues to keeping in touch with friends to entertainment to managing our finances.
Since the dawn of the Internet, identity management has been a key concern, with billions of dollars being spent on usability, security and privacy.
The identity and access management market is expected to grow from $8.09 billion in 2016 to $14.82 billion by 2021, representing a 12.9% CAGR.
Despite this huge investment, managing digital identities continues to be plagued by three Cs – Cumbersome, Costly and Challenging.
With data driving the world today, digital identity is critical to most business and social transactions.
This governs the interaction of users in the digital world.
But traditional identity systems continue to be highly vulnerable, with single points of failure, attracting continuous attempts to gain access to the complete repository of high value data.
And, with companies prioritizing cybersecurity, identity protection and compliance management, while customer experience is significantly compromised.
As individuals, we shoulder the burden of managing multiple online IDs and passwords, while also handling a host of documents, including passports, driver’s licenses, Social Security cards and medical insurance cards.
