The Economics of Digital Identity

In this new era of digital connectivity, whole industries are being fundamentally reshaped as organisations scramble to build new business models, tap new markets and create new sources of competitive advantage.

However, in the rush to open up new digital channels, businesses cannot afford to lose sight of the need to identify and engage with individuals using a huge range of mobile devices. 

Mastering digital identities can transform an organisation’s position in the digital economy.

The simple truth is this: companies that successfully harness the identity issue will be able to roll out compelling new products and services more quickly and effectively than those that do not.

This study, sponsored by Oracle, assesses the role identity plays in the digital economy.

Key findings include:

• Almost two-thirds (64%) say digital channels are highly important to their company’s revenue -“mission critical” for 27% and “very important” for 37%
• Digital channels will be “mission critical” to over one-third of companies in three years’ time
• 72% say security is the key challenge to managing digital identity, and only 19% are very well prepared to meet the security requirements
• Enabling customers to control their own identity data is rated as highly effective by 48% of adopters