Trading identity data for convenience and security

More than half of Brits support merging convenience with security as a solution to protecting their identity. Jenn Markey at Entrust asks, what does this mean for the future of identity?

 

In business, we’ve been using the buzz phrase “digital transformation” as often as we drink coffee. This discussion is still prevalent when we refer to identity and the digitisation of ID credentials.

 

The pace of business and commerce alike is moving faster than ever before, and with this sparks transformation in digital identity. The paper logbook for signing in visitors at reception is being replaced with electronic ID systems, and multi-factor authentication is becoming a more common reality as we log into our online shopping channels.

 

However, as organisations and governments bring more digital services online, they can inadvertently leave users behind. That’s why understanding the market, and the people within it, is vital to ensure the successful navigation of the future of identity.

 

Dethroning the password

Passwords have served as the standard for protecting digital goods and services since their inception in the 1960s.

 

When it comes to what consumers think about protecting their identity as we move away from the password, there are two crucial elements: convenience and security - and these are backed by research.

 

The Entrust Cybersecurity Institute found that almost 55 per cent of UK consumers want convenience as their number one priority, closely followed by security at around 49 per cent. The majority of UK respondents to the survey - 74 per cent to be precise - agreed that sharing personal information in exchange for access to goods, services, and applications is unavoidable.

 

However, it’s important to remember that the fight for data privacy is divisive. While we know that some accept pervasive data sharing as a necessary trade-off for access to digital goods and services, others are fiercely protective of their data.

 

Interestingly, the UK respondents are split 50:50 about how comfortable they feel regarding organisations owning and storing their online digital identity. The answer to making the UK feel more comfortable comes down to trust.

 

Security with convenience

There’s a concoction of methods that authenticate user identity on the market, ranging from biometric solutions such as facial recognition and fingerprint scanning to signing in through other accounts such as Google and SMS, and using one-time passcodes. In the UK, 63 per cent of consumers believe fingerprint scanning is the most secure authentication method, followed by facial recognition technology at almost 58 per cent. What’s crucial, though, is the acceptance of digital authentication methods to validate user identity.

 

Truly, there’s no single or right way for organisations to authenticate customer, employee, or citizen identity. There is always a trade-off between providing relatively frictionless access experiences and incorporating safeguards that confirm users are who they claim to be.

 

The authentication methods organisations employ can - and should - change depending on the sensitivity of data users are accessing, whether they’re serving customers or employees, or if atypical login behaviours are exhibited.

 

The future of identity

Decentralised identities offer a promising solution. It allows a consumer to store and manage access to their identity, and when permitted, allows organisations to collect verified information about the holder from certified issuers, such as the government.

 

While the technology and global interoperability are not yet fully realised, using encryption and digital keys to confirm certain aspects of a person’s identity without exposing unnecessary personally identifiable information is powerful.

 

They have the potential to address concerns over data ownership and control, while still enabling convenient, modern user experiences. In the UK, this is set to be the most simple answer to building trust as we look to the future of identity.

 

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Jenn Markey is VP Payments and Identity at Entrust

 

Main image courtesy of iStockPhoto.com