The Different Ways Artificial Intelligence Solves Real-World Digital Identity Challenges

Javelin's 2020 Identity Fraud Survey revealed the total cost of identity fraud in 2019 to be about $16.9 billion (USD). This cost incorporates data breaches, fines from privacy regulations like CCPA and GDPR, and lost or damaged resources. Due to these imminent risks, the need to reliably authenticate the identities of users is crucial in your security infrastructure.

Fundamentally, users self-register. Self-registration is a form of identity proofing that captures just the phone number and email in most cases. This is not enough as it communicates minute details about the user. That's the more reason it is crucial to go beyond self-registration and leverage automated and intelligent identity proofing to identify users who need access into your system and network.

What is Identity Proofing?

Identity Proofing is a verification process of a user's identity. We should not mix this up with the normal authentication which is based on the combination of username and password. Identity precedes the time users secure their credentials to log into an application coupled with the normal authentication process.

To explain identity spoofing better, the two definitions provided by the National Institute of Standards and Technology(NIST) will suffice. According to the NIST's Digital Identity Framework;

1. Claimed Identity: Data relating to the declared identity by users when they are registered into an IAM system. In other words, who they claim to be.
2. Actual Identity: Data that proves the validity of the user's identity.  This is who they really are.

Identity proofing has one major objective. It is to ensure the claimed identity synchronizes with the actual identity of users. This is why it functions as a first-layer of defense against intrusion on the identity perimeter.

Why use AI for Identity Proofing?

So the question is, why automate identity proofing? What are the flaws of the manual process?

Risk of compromise by ignorant staff

There have been several cases of compliance staff saddled with the responsibilities of verifying ID documents soiling their hands in identity theft. According to a report published on ABC News of a new trend where bank tellers steal confidential data.

The manual process is flawed. Once customers discover their confidential data are being used in dubious activities, they will never believe in the reputation of your company.

High cost of workforce

Setting up a human workforce will cost you compared to automating identity proofing. You will need to pay salaries, purchase computers, pay rent, and other miscellaneous expenses. For instance, it can cost you $45/hour to compensate the compliance team. That's about $225,000 in a year for a 1000 team. Marketwatch also published the average cost of renting a space per worker. Guess what? $14,800 per year in New York. If you resort to utilizing an automated solution, you can reduce all these costs by 70%.

Snail-speed processing

Aside from the cost, you will need considerable time to properly onboard the compliance team with a manual process. You can lose potential customers who need your services on the spot or have your reputation impacted due to poor handling by yet-to-be trained staff. Some financial institutions still employ manual KYC which can take more than two days or even weeks. If your clients need to wait for days, they might as well go elsewhere where the process is automated.

Human Error

Humans get tired and this fatigue can lead to error. This is a big challenge when using manual ID checks. On the other hand, machines don't get tired or bored; and they cannot lose focus. Not only that, errors can arise if an organization lacks a trained and competent compliance team.

Difficulty in Scaling

Manual ID checks become difficult to scale when accessing new markets. You would have to outsource a new team conversant with local regulations. Unlike automated checks where businesses can onboard new customers in real-time.

What are the benefits of Intelligent and Automated Identity Proofing?

• Automated Identity proofing eases the onboarding process and enables businesses to boost their client retention rates. With a digital solution, you can verify the identity of users within a few minutes.
• You can scale without hiring or outsourcing a large compliance team. Automation enables easy access to new markets.
• Secure storage of confidential data supplied by users.
• Documents are checked using innovative and advanced technologies such as OCR, Machine learning, and MRZ recognition.

What KYC solution providers check-in documents and how?

For an ID document to be successfully verified, the platform you choose will check the correct colors, document borders, brightness, and skews. Then, it classifies the document automatically by:

• type
• issuing country
• revision

Next, it verifies the visual authenticity. It looks out for the security features. Are the fonts correct or is the document a duplicate? Does it align with the document template guidelines? Is there a photo on it? After this, the MRZ (Machine-readable Zone) code matches in line with the document type, which is subsequently classified into values based on rules. These decoded values are matched for validity with data generated from the visual aspect of the document.

The system then scans for human portrait photos. Additional features like photo, signature, foto, barcode and QR code are extracted from the provided document. It also checks for the expiry date.

Utilizing the document data, it checks for the profile of the user and highlights any discrepancies. The system then requests the user to supply selfie photos coupled with the document to be verified. The selfie photo is compared with the portrait present on the document. This is to check whether the pictures are from the same individual.

How can companies automate identity proofing?

If you have made up your mind to automate your identity proofing process, here are things you need to know:

1. Identity document capture

The right solution permits businesses to integrate automatic file capture into their applications. The right tool will also guide users all through the verification process.

2. Biometric capture

The biometric tools enable users to pose for a selfie. It can also request a facial recognition video to match the identity of the holders with the documents.

3. Automated and hybrid analysis

Deep analysis performs real-time analysis of submitted files, as well as the biometric capture and compares the data sets. If there is difficulty in verifying the ID, a fraud expert will step in to manually check.

4. Real-time result

Having finalized the analysis, the user will be provided with a real-time result on the validity, authenticity, as well as uniformity of the documents analyzed.

Conclusion

AI in the field of automated ID Proofing has demonstrated better outcomes than human review. Machines do not get tired or bored, are not biased or prone to flaws common with human intervention. I strongly believe companies will accomplish better match results automating identity proofing compared to going manual.

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Originally published at Entrepreneur

The Different Ways Artificial Intelligence Solves Real-World Digital Identity Challenges

Forward-looking businesses are using artificial intelligence to solve real-world digital identity challenges.

Entrepreneur EuropeDeepak Gupta

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How to secure an email address on your website

The present-day internet is a hotbed of spammers and hackers, and you need to secure your email address. Hackers often scan websites and web pages to extract genuine email addresses and exploit them to attack users with spam messages.

This should really concern you because many of these spam emails carry potential malware. When you open your mail or click on a link that contains it, the malware gets naturally downloaded to your system.

For example, let's assume you have entered your email address on a website's contact page, then there's a big chance the email harvesting bots have found it. Thereafter, they start flooding your mail-box with spam emails.

Luckily, there are a few ways to hide your email address from such spammers and hackers who constantly mine for the same. One way is through email harvesting.

Let's talk about what it is and then explore the various ways to secure your email address.

What is Email Harvesting

Email harvesting is the process of collecting lists of email addresses via different methods. Generally, it is used for bulk emails or spam. Hackers use "harvesting bots," which crawl multiple sites, chat rooms, web forms, etc., in a few seconds to extract a list of email addresses.

Other techniques include:

• Posting into UseNet with email addresses.
• Gathering data from white and yellow pages.
• Accessing the same computer used by valid users.
• Accessing emails and address books on another user's computer.
• Spamming through social engineering.
• Buying lists from other spammers.
• Hacking websites.
• Using the method of guessing and cleaning.
• Hacking mailing lists, webpages, web browsers, Internet relay chats, domain contact points, etc.

These methods allow spammers to gather email addresses and use them to send unsolicited bulk messages to the recipient's inbox.

6 Tips to Secure Your Email Address on a Website

1. Hide your email address while logging in.

One of the major mistakes committed by beginners is that they display their email address. If you are tensed and stressed about online hackers and threats, there is one solution you can always opt for.

You can always avoid listing your email address on various vague websites. Instead, you can use contact information through which genuine users can contact you.

2. Obfuscate your email address.

Add an obfuscate plugin puzzle to your email address so hackers cannot identify it. With the help of such plugins, you can replace your email address with codes. These plugins secure your email address from hackers and do not affect the user's usability.

3. Use a password manager.

Use a reliable password manager to change and replace all your passwords with solid, unique ones. We cannot sufficiently stress the importance of using strong passwords to secure your email address.

Hackers use credential stuffing where they literally jam previously stolen usernames and passwords to break into accounts on various services.

This is possible because a huge proportion of online users still use the same username and passwords across multiple accounts.

4. Use two-factor authentication or MFA, wherever possible.

When you set up your account passwords, look out for two-factor authentication (2FA)/ MFA as well. They are additional security layers that you can apply to prevent resets of unauthorized passwords significantly.

Whenever a hacker attempts to break into your email, you are notified and control the authority to accept or reject such attempts.

5. Replace your email address.

If you are not satisfied with any of the above solutions to secure your email address, you can always replace it with "". This would take the user directly to your contact page when they click on the email. This not only prevents tons of spam but also protects you from hackers.

6. Prevent email harvesting.

The following techniques can be used to prevent email harvesting:

• Convert your email address into an image.
• Merge your email address by changing the "@" sign to "at" and the "." sign to "dot."
• Use the email contact form wherever possible.
• Use email obfuscation in JavaScript. The email address will appear scrambled, encoded, or obfuscated in the source code.
• Use HTML for email address obfuscation.
• Prompt users to enter the correct CAPTCHA before revealing the email address.
• Using a spider trap to combat email harvesting spiders.
• Conduct mail server monitoring. This approach can be applied to the email server of the recipient. It dismisses all email addresses from any sender that specifies more than one invalid recipient address as invalid.

Conclusion

Harvesting bots are here to stay; thus, you must take appropriate measures to secure your email address. You can implement the above methods so that you don't become a victim of spammers and hackers in the long run.

Although it may take a while to get the hang of them, the results are worth spending time on.

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Originally published at LoginRadius

How to secure an email address on your website

Secure your email address. Learn about email harvesting, its techniques and explore the various ways on how to secure your email address on a website.

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Single-Tenant vs. Multi-Tenant: SaaS Architecture

SaaS-based cloud implications have proven effective in rendering scalability while reducing costs for the organization. Thus, SaaS has become a standard delivery model for most business applications. Mostly SaaS supports both single-tenant and multi-tenant architectures and organizations can willingly choose their SaaS environment type based upon factors like security, cost, scalability, simple migration, customizability, etc.

This article comprehensively compares SaaS-based multi-tenant and single-tenant cloud architectures along with their benefits and drawbacks. The comprehension also points out which one to choose based on the organization’s requirements and scenario.

Single-Tenant Cloud Architecture

A single-tenant architecture dedicates a single instance of the software, infrastructure, or database to a single customer. The single-tenant system encapsulates all customer data and interactions distinctly from other customers. Moreover, customer information is not shared in any way.

In a single-tenant architecture, the provider helps manage the software instance and dedicated infrastructure while giving a single-tenant nearly complete flexibility over software and infrastructure modification. Single-tenancy models provide control, reliability, security, and backup capability. In addition, each tenant has its independent database and software instance, keeping them separate from one another. Each tenant's data also has a remote backup, allowing tenants to restore their data in case of data loss quickly. In most cases, tenants can choose when they want to install any available updates themselves rather than waiting for the service provider to do so.

Ultimately, potential customers who desire more control and flexibility to meet specific needs in their environment would likely prefer a single-tenant infrastructure over other solutions.

Benefits of Single-Tenancy

Although single-tenancy architecture is less common, it caters to easy auditing and maintenance. Here is the list of some other benefits a single-tenant cloud provides:

• Excellent Reliability: Single-tenant architectures are typically more reliable because one software instance serves one customer. So the entire system remains unaffected by other cloud traffic and peak load performance. Also, it becomes easier to scale as compared to the multi-tenant. Moreover, one can configure In-transit Network Routing in single-tenancy.
• Enhanced Data Security: Single-tenant cloud architecture separates application instances and supporting components like database and infrastructure for each customer within the same provider. So, there is no way for others outside of your organization to access your data in case of vulnerability. As a result, even if a customer with the same service provider experiences a data breach, other tenants remain protected.
• Simplified Migration: It is easier to migrate data from a single-tenant architecture since the data store contains data from a single customer. One does not need to worry about mixing customer data or using complicated migration scripts.
• Easy Customizations: In the case of SaaS, mainly the services are thoroughly managed by the service provider’s team. However, the service provider can give dedicated server access to customers in the case of single-tenant—for example; server logs access to customers. The same level of ownership or customization cannot be provided for multi-tenant customers.

Drawbacks of Single-Tenancy

Despite all of the potential benefits of single-tenancy, it is still the least popular architecture among competing options, which you could attribute to some of its drawbacks. The following are some of the disadvantages of single-tenancy:

• Higher Costs: Hosting one SaaS instance per customer increases the cost due to setup time, resources, customization, and maintenance.
• Lesser Deployments: While releasing customer-specific updates and features, all customer benefits in case of multi-tenant. Such feature updates are not generally released for single-tenant customers because of their separate application instances and related components.

Multi-Tenant Cloud Architecture

Multi-tenancy is another cloud architecture wherein a single instance of a software program serves numerous customers. People usually refer to the real estate analogy to explain Single-tenant vs. Multi-tenant cloud architecture.

Each customer in a single-tenant cloud lives alone in a single building with its security system and amenities, entirely secluded from neighboring buildings. Tenants in multi-tenant cloud architecture, on the other hand, live in various apartments within a single apartment complex. They are both protected by the same security system and have access to the same communal facilities. However, each resident has a key to their apartment, ensuring that their privacy is protected. The actions of other tenants, however, are more likely to affect their comfort in the property.

Most startups choose a multi-tenant architecture having a single massive database containing all customer information. Customer data is kept confidential with the necessary security systems in place. While customers cannot view each other's data, they are all stored in the same database, and all of the data gets processed by the same computer.

Benefits of Multi-Tenancy

• Lower Costs: SaaS allows businesses of all sizes to share infrastructure and data center operations expenditures, resulting in lower prices. It also reduces infrastructure implications as compared to single-tenancy-hosted solutions.
• Frequent Deployments: All customers get the feature updates when SaaS vendors release features in a multi-tenancy environment, even if a specific multi-tenancy customer initially requested the feature.

In contrast, the single-tenancy customer does not benefit from such scenarios.

Drawbacks of Multi-Tenancy

While multi-tenant cloud architecture is usually the best option for most SaaS customers, it can have some drawbacks, such as:

Greater Security Risk: As different customers share resources, the risk factor in a multi-tenant setup increases. In contrast to a single-tenant cloud, where security events remain isolated to a single customer, it is more likely to harm other customers if one customer's data is compromised.

In multi-tenancy, an organization's data is not visible to other tenants. However, multiple users without the organization's affiliation get access to the same database. This increases the security risks.

• Resource Availability: The increased load of one customer can impact other customers sharing the same resources in a multi-tenancy setup. While in a single-tenancy architecture of SaaS, this risk is not present as customers are provided with dedicated resources.

When to Use One Over the Other

A single-tenant setup of SaaS may be appropriate for certain companies or sectors where customer data privacy and security are paramount. The healthcare and finance industries are excellent examples, leveraging single-tenant cloud systems.

For example, when working with patient information, applications in the healthcare industry must comply with HIPAA regulations. To maintain compliance, each hospital may need to establish its own data center on-site. The same is true for certain forms of financial information.

Most consumer-facing applications and start-ups that require comparatively less customizability tend to use a multi-tenant setup of SaaS. Also, multi-tenancy is preferred by organizations that want to opt for a cost-effective solution.

Conclusion

There are a lot of other factors an organization must keep in mind while deciding which SaaS architecture to choose. Some business factors are the purpose of cloud adoption, type of application, budget, scalability, customization, migration, visibility, backup, and recovery. Finally, organizations must brainstorm what they want to achieve and how their company operates to arrive at the best, ideal solution.

LoginRadius provides both single-tenant and multi-tenant SaaS architecture for our CIAM solution.

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Originally published at LoginRadius

Single-Tenant vs. Multi-Tenant: SaaS Architecture

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Engineering As Marketing: 5 Growth Hack Strategies For Modern Businesses

Engineering as Marketing is about utilizing engineering time to build helpful tools such as calculators, checkers or checklists, widgets, and even micro-sites that introduce your business to potential customers.

Engineering as marketing is an especially under-used medium, and when implemented correctly, it has proven to be very useful. It's under-used because it's very costly and can not suit traditional marketing or development plans. Imagine two weeks of iterations or tests where the critical route is to create a small project. It just doesn't work, either in terms of time or budget.

Engineering as Marketing is about using your engineering time (or that of your team) to create useful resources such as calculators, checkers or checklists, widgets, and even micro-sites that bring potential customers in need of your company.

In the long term, producing tools that your target audience finds useful will do wonders for your business. Ideally, organizations should expand exponentially to make this tool free for their users.

Here are some reasons why a business will produce high growth with free tools:

• Engineering, like marketing, is close to content marketing in the sense that you are creating assets. Free instruments can virally expand. And as the years go by, free resources will stay important to your users.
• And if your customers have the money to purchase software, a lucrative choice is still open.
• You have to build trust. It would be best if you showed your clients that you not only appreciate their concerns but are also willing to provide them with tangible value.

Five Engineering as Marketing Strategies

There are obstacles when it comes to engineering commercialization. It takes effort to develop and sustain an effective marketing plan for an engineering company, from selecting the correct tactics to writing the best sales copy.

Digital marketing is a vital part of how an engineering company can be sold. This is how most individuals now find information: for almost all, including businesses to work with, they turn to the Internet. So you could struggle to attract potential leads if your engineering company is not well-represented or easy to find online. Not just that, you're going to lose them to your rivals.

Create a more robust marketing approach with these five engineering marketing strategies for your engineering company:

1. Create High-Quality Content

The quality content, which can include anything from blog posts and videos to marketing guides and ebooks, is loved by search engines and social website users.

You will hit the most eligible prospects as they are already looking online by producing and publishing useful material. And after finding helpful content posted by your business, people will be more likely to want to find more information about your engineering company.

2. Utilize Social Evidence

One of the most relevant and frequently ignored tips is to use data from close to your future customers but have started using your device and are super excited about it. People prefer to trust what other individuals have already learned and checked and have something useful to share. Only add a couple of constructive reviews and comments on the website, and your conversion rates will see a boost.

Many B2B companies wonder why social media accounts should be started. Social media provides a perfect way to connect with current and future clients, regardless of the industry or business model.

3. Leveraging SEO

One of the easiest ways to boost your engineering company's online exposure is search engine optimization or SEO. It should be one of your top priorities when designing your overall marketing plan.

SEO requires making improvements to specific items on your website to increase the probability that the phrases you are targeting will rank well. These improvements may include adding keywords to your page names, updating and adding copies to your site, quicker loading of your pages, enhancing the layout of your site, and so on.

4. Launch an Email Newsletter

Email newsletters are a perfect way to communicate with prospective customers, keep in contact with current customers, and improve your link with both groups. While past email marketing tactics may have included making hard sales pitches, and you may think of e-commerce emails as being about sales specials or discounts, it is all about adding value to engineering email marketing.

5. The Power of Online Reviews

An increasingly significant feature of marketing engineering services is online feedback. Reviews are the modern-day word of mouth counterpart, and a successful review will help the company attract new customers. On the opposite, your chances of attracting fresh customers can be hurt by not getting feedback.

You should track your company's online feedback and respond to the questions people have about them. Try to take the feedback constructively and focus on improving any missed areas of your service.

Conclusion

You can incorporate a range of Internet marketing approaches with a little practice and some experimentation into a detailed strategy that increases your company's exposure and credibility, attracting more leads and inspiring more potential customers to select your company for their engineering needs.

If it blends into the overall story with goal and vision, the use of resources that might already be available in the organization is promising. Marketing as Engineering is at the top of the funnel region in the marketing funnel.

If you build the lead magnets so that they deliver a quick win and do not give too many possibilities to the consumer, you lay the foundation stone for throwing out a net in which you can attract the long-term attention of prospective customers to yourself.

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Originally published at LoginRadius

Engineering As Marketing: 5 Growth Hack Strategies

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Walking the Fine Line Between Consumer Experience and Privacy

Consent, as well as robust security protocols, play key roles in walking the fine line between data management and consumer privacy expectations. An organization that handles its consumers’ data ethically stands to gain a considerable edge against competitors through greater access to data, consumer trust, and the potential to secure more privacy-conscious consumers.

Personalization is the key to creating a meaningful experience for consumers across industries. It allows organizations to ensure that the content seen and received by their users is worthwhile and relevant. Needless to say, in striving to create this meaningful experience, brands need to collect an increasing amount of data on their respective consumers.

This growing demand for personalized content and the consequent need to secure an overwhelming amount of data is what breeds the dilemma of consumer experience and data security faced by present-day organizations.

Another aspect of this dilemma is all-time low consumer trust in brands. The general population has lost faith in brands. This lack of trust has given rise to data security legislation that organizations ought to adhere to GDPR, CCPA, and the SOX Act amongst many more with several reportedly under conception.

To enjoy the benefits of personalization while balancing adherence to regulations and retention of consumer trust, entities ought to seek the optimal and acceptable degree of data collection and utilization.

The Case for Enabling a Frictionless Consumer Experience

Gartner argues that the value of the traditional 4 Ps of marketing: product, price, promotion, and placement) has faded in the internet era where prices and product availability are more transparent than ever. This change has made consumer experience the factor that acts as the primary influencer for consumers in this age.

A consumer’s digital experience with the brand is largely dependent on their interaction with the applications of the organization. These applications’ flow and working are increasingly dependent on usage patterns and behavioral inputs of consumers. Hence, the information collected through an individual’s data patterns is necessary to supplement consumer experience.

Artificial Intelligence and Machine Learning enable the worthwhile use of this data. When implemented well, these automated systems help create a catered virtual experience that feels relevant to consumers. A consequent personalized experience increases the potential to increase conversion rates and hence returns on investment. Unsurprisingly, 93% of e-commerce consumers expect personalization in their browsing.

Omnichannel promotions, location-based consumer services, and targeted content barely scratch the surface of personalized content expected by consumers. It’s reasonable to claim that a relevant experience created through these means can make or break a brand. Nevertheless, the collection of such sensitive information and its use renders organizations susceptible to data mishandling and potentially exposing it through data breaches.

The ever-present potential for data breaches along with concerns over unethical use of sensitive data is two aspects hurting trust in brands throughout the globe.

The Conflict Between Privacy and Security

The contradictory tendency of the newer generations to share their personal information in exchange for services despite the negligible trust in brands is called the privacy paradox.

Users have – and are – growing more concerned about the manner in which organizations treat their personal information. More than 40% studied in a survey do not trust companies like Amazon, Google, Facebook, and Apple to manage their data lawfully, much less ethically. Even for most organizations: approximately 40% of consumers have felt their trust has been compromised when using digital services. Only 31% of participants have indicated that they trust organizations and institutes to treat their personal information and data as trustworthy.

On realizing that their trusts have been compromised, consumers can and do tend to reduce their interaction with the brand. This reduction can be in the form of reduced spending or a boycott of the brand altogether.

Weak and unethical approaches to consumer experience and data security practices have been met with growing regulations on consumer data security. Regulations such as General Data Protection Regulation (GDPR), the SOX Act, HIPAA, and others mean that the companies that fail to act legally and ethically do not only stand to lose their consumer base but also incur heavy fines from regulatory bodies. According to UNCTAD, 128 out of 194 recognized countries have established legislation to protect consumer data and privacy.

But there’s a catch!

Despite all things considered, in reality, companies may be using much less data than consumers may consent to. Studies by Gartner and the Boston Consulting Group conclude that when consumer consent is undertaken, that is, when consumers and other stakeholders are consulted before the use of their data, they may be willing to let companies use much more data than they currently use: making consent the key to perfecting the balancing act.

Maintaining the Balance – Benefits in the C-Suite

• Undertaking and tracking consumer consent through improved identity solutions increases consumer trust all the while reducing the risk for the organization. For the desired response, consent records can and should allow consumers to have a say in the use, sharing, and commercialization of their data.
• Greater consent to data use can allow boosted personalization and use of data. Hence, allowing a smooth consumer omnichannel experience. In addition, better and statistically backed business decisions can be undertaken through data inference.
• Data management risks and compliance costs can be reduced. Through the means of an outcome-based service, real-time risks to stored data can be assessed, hence, meeting data security compliance and reducing the potential for legal fines.
• Such a balanced approach is also likely to give one a competitive edge over organizations that fail to engage in ethical data stewardship practices: increasing the potential to secure a broader consumer base and hence greater revenues.

Conclusion

Consumer data has become a fundamentally crucial aspect of business models. It is needed for personalization to boost consumer experience, to make better business decisions, to generate more revenue through third-party transfers, and to allow personalized advertisements. consumers and other stakeholders have come to realize the importance and the use of this data over the past few years as well.

Unfortunately, the current consumer experience and data security practices do not stand in line with consumer privacy expectations. An organization neglecting ethical and legal data use stands to lose out on revenue, incur heavy fines, all the while narrowing their consumer base for the worse.

Consent, as well as robust security protocols, play key roles in walking the fine line between data management and consumer privacy expectations. An organization that handles its consumers’ data ethically stands to gain a considerable edge against competitors through greater access to data, greater consumer trust, and the potential to secure more privacy-conscious consumers.

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Originally published at LoginRadius

Walking the Fine Line Between Consumer Experience and Privacy

How to manage equilibrium between customer experience, security and privacy. Learn how to enable a frictionless consumer experience.

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5 Tips for Choosing the Right Password Manager for Your Team

When it comes to a password manager for business, always invest coherently. As there are immense options available in the market with forever free and feature scale-up modes, prioritize better functionality and security over fancy designs or a complicated interface.

Today, cybersecurity attacks have become a major threat to businesses across the world. As per Gartner forecast reports, the global information security market is forecast to reach $170.4 billion in 2022.

In this post-covid pandemic era, we saw an increase in the number of remote working employees, which in turn raises some security issues. Yes, you heard it right.

Today, remote workers are the number one target for cybercriminals, resulting in a surge in cloud breaches last year. According to the FBI’s Internet Crime Complaint Center, there has been a 300% increase in reported cybercrimes since the pandemic began.

That is why the importance of a password manager for teams has become an essential thing for today’s businesses.

So, what is a password manager, and how can it help your team when it comes to cloud security? Read on!

What is a Password Manager

A password manager is a software application, which acts as an encrypted digital vault for all your passwords. You can generate, store, manage, or retrieve your login credentials for your internal applications or online services securely with a password manager.

Why Do You Need a Password Manager for Your Business

A password manager can help your team in four ways:

• To ensure password security

A password manager can help you store encrypted passwords, thus ensuring it is protected. It also allows you to control password access and decide who can access the password.

This software program also tracks and audits password usage across the team, thus monitoring whether there is any kind of discrepancy.

• To generate stronger passwords

With a password manager, you can generate random strong passwords for each access point. This will ensure that the attacker won’t be able to access all your accounts at the same time of data breach with a single password. Each password is made in compliance with the standard password policies.

• For quick access

You don’t have to remember all the passwords each time you log in. The password manager can help you login in quickly with the convenient auto-fill feature without compromising password security.

• For better password operational efficiency

With a password manager, you can share passwords with other users in your team. And you can also make password changes frequently, which will again ensure cloud security.

So, you got an idea about the benefits of a password manager for teams, right? Now it’s time to discuss some tips for choosing the right password manager.

Top 5 Tips for Choosing the Right Password Manager for Your Team

1. Two-factor authentication support.

A recent study from Verizon Data Breach investigations has established that 81% of all data violations happen because of weak passwords and poor management. Passwords can be easily hacked and construed. This embarks a need for multi-step or two-factor authentication for accessing crucial data.

Password managers for businesses can incorporate this functionality in an end-to-end encrypted way with an onus of complete data security. Many password managers such as Dashlane, 1Password include 2FA (two-factor authentication) in well-structured plans.

2FA works in such a way that it creates different and unique user checkpoints for data accessing. Generally, this includes a password and a fingerprint, iris scanner, or face scanner at the second step. The two steps in action ensure data protection.

2. Think about open-source products with dynamic communities.

Password managers build communities. A wider and diverse community will give rise to more active and protean solutions.

A password management tool with an assembled expert community would be a great source for unique solutions to solve problems in an organization. For this increasing demand from password managers, inbuilt forums have been established to decrease dysfunctionalities.

The password managers with an open-source often help share forthright resources eliminating the constraints on tech and f2f interactions. The open-source password managers are more user-friendly and don't compromise on security.

With a smart investment, one can get secure, open-source, and competent password managers. Some of the open-source password managers are Keepass, Passbolt, and EnPass.

3. Go for simple and transparent pricing plans.

When it comes to a password manager for business, always invest coherently. As there are immense options available in the market with forever free and feature scale-up modes, go live with software having transparent, simple, and powerful features. Prioritize better functionality and security over fancy designs or a complicated interface.

Before finalizing a password management tool, always use trials to complete software comprehension and only then commit to billing. Get your complete team-onboard for discussions and analyze the pros and cons of the software.

Compare different password manager’s plans on feature incorporation, pricings, and security levels. Research and read the password manager tips for better understanding.

4. Look for cloud or self-hosting options.

Cloud hosting is always preferred and trusted. When finalizing password management software, gather complete details of features, especially hosting services. It has been established that cloud-based password managers for teams are way safer than browser-based ones.

The cloud-hosted features add an extra check for passwords and provide the liberty to use them on varied devices with end-to-end security maintenance.

For businesses working on browser modes, password management works well but accessing passwords from remote locations is limiting. However, cloud-hosted password managers allow flexible access in a safe and reliable authenticated way.

Consider this before opting for free-trials or selection procedures for the organization’s password management software. Keeper is one of the biggest present cloud-based password management tools.

5. Find solutions with developers and other team members.

Get yourself a tool with an integrated team working interface and allow integration of programmatic workflows. This ensures a seamless and flexible flow of work deadlines.

Many password manager tools such as Keeper provide chat options allowing team members to easily communicate and implement workflow itineraries on a secured platform.

Options like CLI, command-line interface, and Application Programming Interface (API) makes this plausible and practical. This allows teams to transition between these two options and provides solutions together.

Password managers for businesses like Pass are providing CPI features on a platform with reasonable pricing and plan options.

With a pool of options available in the market, opting for CPI and API integrated tools can aid in security and inter-communication.

Final Words

A password manager has become a vital part of cyber security in today’s digitally connected business world. Therefore, make sure you choose the right password manager for your team. It should have all the security features you need to keep your systems safe from potential breaches. Also, it has to offer simple and transparent pricing plans that fit your budget.

Another key thing is to intercommunicate with other teams - developers, project managers, etc. to finalize your choice of a password manager for teams. These tips will help you to find one that is just right for you and your team.

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Originally published at LoginRadius

5 Tips for Choosing the Right Password Manager

What is a password manager and why do you need a good password manager for your business. Learn how to choose the right password manager for your team.

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Data Governance for Enterprises: Important Principles for Value Generation

Data Governance has emerged as one of the top priorities for organizations across the globe. Given this reality, organizations are handling their data consistently to support business outcomes.

So, what is Data Governance for enterprises, and why is it important?

Data Governance is a set of laws implemented in an organization for deciding the control and authority over their data assets, which means it goes a long way in affecting the tactical and operational decisions in most enterprises.

Usually, a proper Data Governance program involves using agreed-upon models and determining who can use the company’s data assets and under what circumstances.

Data executives across the globe have begun prioritizing enterprise Data Governance, given that regulations like GDPR and CCPA are increasingly being implemented.

Efficient Data Governance is crucial for the integrity, security, availability, and usability of the data. So, it makes a lot of sense to ensure that your organization has the appropriate certifications to get it right.

Below see a list of certifications that should be included for proper Data Governance:

• AICPA SOC 2 (Type II): This certification makes sure that the data is secure, available, and that it maintains its integrity.
• ISAE 3000: This is a certification that is instrumental to the protection of non-financial data.
• PCI DSS–PCI SSC: For the integrity of payment transactions, this certification is crucial.
• ISO/IEC 27018:2019: Securing PII starts with this certification.
• ISO 27017:2015: Ensuring that this certification is present is a great way to safeguard your cloud services.
• NIST Cybersecurity Framework: As a result of this certification, the data security risk is substantially low.
• US Privacy Shield: This certification is mainly aimed at EEA citizens. Their complaints can be seamlessly resolved.
• ISO 27001:2013: This particular certification has the purpose of maintaining the integrity of the information security management system.

Enterprise Data Governance: How to Implement an Effective Framework

Due to the various enterprise Data Governance challenges, maintaining the safety, quality, and integrity of your data assets can be a daunting task.

Therefore, employing these seven steps is important as your enterprise Data Governance policy can go a long way in strengthening your Data Governance efforts throughout your company.

Step 1: Focus on the areas that require improvement
You may be tempted to deal with all the data issues together. But, a surefire way to maintain the integrity of your data is to target one or two assets that provide the maximum scope for data asset improvement. When you selectively weed out Data Governance issues, you will find that it provides you with a sound foundation for enabling Data Governance across the company.

Step 2: Leverage the power of data to the fullest
Data needs to be readily accessible if it is to be appropriately governed. Using various integration technologies and Data Governance best practices, modern companies can make sure of this despite the data existing in diverse forms.  

Step 3: Make rules, roles, and responsibilities
Ensure that people who work with information in your company data are governed by an optimal process that safeguards data integrity.

Step 4: Ensure that the available information is high-quality
For the effectiveness of a Data Governance undertaking, one of the crucial requirements is data integrity. You can use the following systematic approach:

• Profiling: This refers to comparing your data to a predefined metric so that you can gauge if it’s good or bad.
• Parsing and Standardizing: This refers to the process of validating and correcting the data in accordance with the industry and company standard. You mainly check for things like case standardization and name formats.
• Enrichment: The idea of enrichment is simple. You garner and enhance your existing data using new data, such as the data pertaining to geocode.
• Monitoring: This step is important if you want Data Quality to be consistent.

Step 5: Set up infrastructure that ensures total accountability
It is worth mentioning that unless people are held accountable, your asset quality cannot be ensured. For this, you need to assign “owners” for each of your assets and provide them with the right technology for its management because manual processes are prone to errors even if they are well-monitored.

Step 6: Move to a master data-based culture at your enterprise.
Another useful technique to incorporate into your Data Governance program is the process of moving from a transaction data–based culture to a master data-based culture. With proper Master Data Management, companies can ensure much better Data Governance.

Step 7: Develop a feedback mechanism for the sake of process improvement.
It is crucial to have a feedback mechanism built into the process to allow for the constant improvement of Data Governance initiatives.

For this final step, graphical, real-time Data Governance tools can enable the feedback and enhancement cycle. Doing this will give you a clear idea of how the Data Governance initiatives are working on your information assets to make sure it is running as per your desire.

Conclusion

Proper Data Governance strategy is crucial for a company to effectively handle data. But, at times, it can be difficult.

While each organization has its unique challenges, the framework provided above can ensure the implantation of an efficient enterprise Data Governance structure.

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Originally published at Dataversity

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Proper Data Governance strategy is crucial for a company to effectively handle data, but, at times, it can be difficult. While each organization has its unique challenges, this blog provides a framework that can ensure the implantation of an efficient enterprise Data Governance structure.

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