Many organizations plagued by 'digital identity crisis' says new study
Growing consumer expectations, a breakdown of traditional enterprise walls, and emerging technologies have given rise to a “digital identity crisis,” according to a new report from professional services firm Deloitte.
More than ever, identity management is at the center of cyber security, regulatory compliance and consumer trust, and many organizations are struggling to define digital identity both internally and externally, the study said.
For its research, Deloitte conducted an online poll of more than 2,500 professionals across industries and positions in October 2019, and found that digital identity lags in terms of investment and priority.
About one third of the respondents (35 percent) recognized upgrading legacy systems as a challenge to organizations employing identity programs, and 18 percent said lack of funding and sponsorship is a challenge.
Either way, many organizations haven't built modern systems that enable easy integration with applications, the report said. And a vast majority of C-suite level executives surveyed (95 percent) commit 20 percent or less of their security budgets to support identity solutions.
"In a digital economy, identity is a point of trust, perimeter of security, and an index of customer satisfaction," said David Mapgaonkar, principal at Deloitte. "Organizations should think about challenges related to both consumer and enterprise identity management to understand what they can do to create better outcomes.”