Client retention has become a crucial factor in growing a business in various industries. Without the consumers, companies might sustain significant losses, leading to complete closures or lay off of employees. This is why countless enterprises are keen on providing an exceptional customer experience, especially on online platforms.
The growth of the digital space has provided organizations with limitless opportunities to engage with their customers. Communication has become much more accessible, and clients can easily make transactions by using the applications or websites of the brands. Ensuring that the clients will be provided with a seamless experience, from online identity verification to website navigation, will allow institutions to have their clients stay loyal and market the business to their peers.
One of the modern disciplines implemented by many enterprises is Customer Identity and Access Management (CIAM) which helps provide reliable digital security for the consumers. With CIAM, companies can efficiently collect, store, and manage necessary identity data to help them provide a seamless sign-in process for their clients. The information captured includes knowledge-based credentials and primary biological data, which allow organizations to utilize biometric identification in their platforms.
CIAM can be integrated into other digital identity verification solutions to ensure a frictionless identity proofing process at various levels. Numerous CIAM solutions also have multi-factor authentication (MFA) methods which provide a high level of protection to prevent account takeovers.
In addition, implementing CIAM can provide clients with the single sign-on (SSO) option. This is beneficial for brands, with consumers usually engaging with businesses on various applications and devices. CIAM will give firms a unified platform for customer profiles so that users can use a single credential for different channels.
Furthermore, CIAM solutions can help scale the enterprise adequately. Companies will be able to efficiently scale their processes depending on the ever-changing consumer demands without compromising the classified information of their clients.
Implementing CIAM can create a lasting relationship with customers, allowing them to be loyal to the brand, increasing sales, and driving more revenue in the long run. To learn about the advantages of CIAM for businesses, check this infographic provided by authID.