Consumer Identity Trend Report 2023 by LoginRadius
We are pleased to present our annual Consumer Digital Identity Trend Report 2023, the ultimate guide to navigating digital consumer identity's complex and ever-evolving landscape.
We've surveyed over 500 brands and a whopping 1.17 billion users from the LoginRadius Identity Platform to bring you an in-depth analysis of the consumer data market.
This report offers valuable insights and industry-standard performance benchmarks ranging from consumer behavior and authentication methods to identity verification and IT requirements. It is an essential resource for business leaders, marketers, and IT professionals who want to stay ahead of the curve in the digital era.
Discover the latest changes in consumer behavior and how they will impact business practices and IT requirements…
The Cyber Hut Comment: An interesting report by LoginRadius taking at look at some of the key components, trends and capabilities of a modern consumer identity and access management platform.
CIAM is focused on external factors that drive business success - such user conversions, engagement, the delivery of a personalised experience and the ability to build and manage end use trust. Clearly a major part of that is the authentication or login experience. Historically authentication has had to content with two opposing requirements: security and usability. In the B2E world it was commonplace to accept a reduction in one to deliver the other. In the external identity world however, that is no longer acceptable to the educated and agile consumer. They demand both security and usability without compromise.
The report highlights the need to deliver a varied and more importantly frictionless login experience for consumers in order to sustain conversions. The use of modern MFA and passwordless technologies can clearly help in this quest. However, over 51% of the customers (500+ brands) surveyed did not offer MFA. Why so? Technology complexity? End user reluctance? Lack of compelling security event?
However passwordless approaches (which typically do rely on MFA with the something you have (private key) being augmented with a local biometric something you are) are on the rise - with the belief customers return more and engage more with brands that rely on this approach to login.
Another angle the report focused upon, was social login trends - using a third party identity provider to signup and subsequently authenticate to a service. The leading providers were Facebook and Google in North America and APAC.
A final comment to make, is what whilst the end user sees identity and access management as simply being the “login box”, clearly a range of other capabilities are needed to deliver online digital experiences - from adaptive access and fraud analytics, through to consent management, data integration, account removal and privacy enablement. Of course the end user may not “see” the implementation of such features, but nonetheless, they are needed to provide seamless and secure online experiences.