Deepika
<p><strong>UNDERSTANDING DIGITAL IDENTITIES FOR BETTER BUSINESS DECISIONS</strong></p> <p>Life without technology is no longer imaginable, and also it is evolving day to day. Amidst of this lies concept of digital identity.</p> <p>The future of technology is exciting too. The vision of integrated devices, smart cities and digital nations is alluring and digital identity can help converting this vision into a reality. To understand how a seemingly humble identity can bring across such major outcomes, we need to understand what digital identity actually means.</p> <p><strong>What is digital Identity?</strong></p> <p>In simple terms, digital identity is the mapping of a physical entity to a logical entity using a unique secret that only the physical object knows, or is defined by. The entity can be a person, an organization or even an electronic device.</p> <p>There is an extreme need to secure this sensitive data, as they possess personal, professional, financial and authentication information. Additionally, digital identities can be utilized to provide seamless access to the systems. While seamless access means a more integrated cyberspace, it also increases the chances of a data breach.</p> <p><strong>Importance of Digital Identity.</strong></p> <p>After understanding the concept of digital identity, we should know what is its importance. Devices and applications are in abundance in today’s era of technological innovations. Consequently, the burden of remembering multiple passwords IDs and accounts lies on our shoulder. Digital identity helps us in rescuing us from having to remember multiple passwords and prevent us from cyber-attacks.</p> <p><strong>Let’s understand some of the comprehensive key trends in Digital Identity space.</strong></p> <p><strong>Consumer Identity-</strong></p> <p>With an increasing number of business going digital, it is important to ensure that a consumer’s digital identity is utilized to provide a personalized user experience without compromising the consumer’s privacy. It can help manage consumer experience and secure the access in the most eligible way.</p> <p><strong>Internet of Things-</strong></p> <p>In today’s era everything is connected with internet, connected cars, smart homes and cities. However, to enable the interconnection of such a vast range of appliances and devices, their identity needs to be first ascertained. This is none other than their digital identity. It can drive the growth that can enable secure communication and access to resources by these devices.</p> <p><strong>Privileged Access Management-</strong></p> <p>PAM involves the management of ‘privileged’ identities, i.e. users who have administrative and other such privileges is getting far more important for the enterprise to manage and monitor access of their privileged users to respective IT systems such as servers, databases, routers, firewalls especially when such access is held by third parties’ vendors or contractors in a majority of the cases.</p> <p><strong>Analytics-</strong></p> <p>With the increase in the number of digital identities, identity analytics becomes very important. Identity analytics involves a dynamic risk-based approach to continuously monitor and analyse identities. This will help us understand better access patterns, anomalies and user behaviour and overall strengthen the cyber security.</p>
Era of Digital Identity
Financial Management consultancy