Identity and Access Management (IAM) is the cornerstone of every business today.
Owing to the importance of IAM, organizations will find IAM vendors aplenty.
However, organizations will never compromise on their IAM needs, and no matter how good a vendor is, if the IAM solution they provide falls short of certain capabilities, they will be easily overlooked by the organizations.
Here is the list of top 5 trends that organizations will always look for in an Identity and Access Management solution.
The adoption of Password Authentication is diminishing. Most of the massive cybercrimes happen because important accounts and applications are secured with passwords. Cyber attackers have scaled up their attacking techniques as well. They can hack even the most complex passwords easily. So, as an alternative, Biometric authentication has seen good adoption rate.
Essentially, biometrics is an authentication technique that uses unique user attributes such as voice, fingerprint, face, etc. to secure crucial accounts. For instance, when an account or application is secured with the thumbprint, what are the chances of your thumb impression being stolen or hacked? Very grim. Biometrics is a far more secure and convenient way to authenticate and secure accounts as opposed to passwords.
#2 Privileged Access Management
The damage due to data breach faced by an organization is directly proportional to the value of the information that is breached. Some information, data, business strategies or secrets are so important that not everyone but only a few, key employees or stakeholders of the organization will have access to it. Such accounts are known as privileged accounts. Since privileged account contains valuable business information and is constantly under the cyber attacker’s scanner.
Privileged Access Management is an integral part of Identity and Access Management wherein privileged accounts are constantly monitored and secured with stringent authentication techniques. Generally, the security protocols for privileged accounts are higher as compared to the normal security protocols for the entire organization.
#3 Cloud Access Security Broker
If there is one technology that has revolutionized the digital world, it is Cloud Technology. Organizations, regardless of their size and nature of the business, are willing to adopt Cloud Technology. Essentially, cloud technology or cloud computing means storing data, identities, connected information, etc. in one place- the Cloud. Cloud technology brings advantages such as scalability, flexibility, efficiency, etc. to the business. However, the apprehensions related to cloud security cannot be denied. After all, the valuable data, information and identities are hosted and managed by a third-party cloud provider in their cloud infrastructure.
CASB is an on-prem or cloud-based software that connects the cloud provider and the cloud service consumers with better security. Good CASB models are compliant with regulations such as GDPR, HIPPA, CCPA, etc. CASB ensures your organization is safe from cybercrimes related to cloud technology.
#4 Consumer Identity and Access Management
From traditional businesses to the new-age ones, customer-centricity has always been every businesses’ priority. Organizations want to provide the customer experience, and for the same, they request consumers to provide their data and information (relevant, valid, and legit, of course).
CIAM is a software that helps in providing great customer experience, ensures the security and privacy of customer data whilst protecting and managing the customer information and data privacy with password and consent management, stringent authentication, reporting, analytics, and more.
#5 Risk Engine:
Given how cybercrimes are only growing in number, and the added uncertainty of when a cyber-attack can happen has made it humanly impossible to detect every user anomalies or suspicious activities.
A risk engine helps in detecting potential fraud, abnormal user activity,
Compact Identity- the ONLY all-in-one solution.
Compact Identity is the only, cloud IAM that offers Access Management, Identity Governance and Administration, Customer Identity and Access Management, and Privileged Access Management. The solution also includes business to consumer functions, unified endpoint management, dashboards, high powered analytics, and business intelligence with a risk engine in a single product.
Drop-in a line at firstname.lastname@example.org and talk to us about deploying Compact Identity.