The Death of the Password & the Future of Consumer Protection

There’s a revolution happening and we don’t even know it. And, I’m not talking about the Women’s March, because we are all well aware of that revolution.

I’m talking about a revolution of passwords. How many passwords do you have written down in a notebook somewhere? Bank passwords, WiFi passwords, Spotify passwords and about a hundred more passwords for various things we sign up for.

What if I told you, that in the near future, we won’t be using a single password to sign into anything? You would call me crazy, especially for online banking, right? Wrong.

Who has the time, memory, or even an abundance of notepad paper to keep all these passwords? Companies like Gigya are ridding the world of passwords. You will have noticed that anything you sign up for, you have the option to create an account with a single push of a button – “Sign in with Facebook”. In the future, signing in with Facebook will be obsolete, we will be using fingerprints through our smartphones. In some cases, we already are.

Who is Gigya and how are they silently creating a revolution?

Gigya is the leader in data collection for most businesses, yet most people have never heard of them. In fact, I can guarantee that anyone reading this post has already signed in with their technology and given access to all of their online data. But don’t worry, your data is completely protected, as well as your online identity. The collection of your data is only for your benefit, to help make your life easier.

How does Gigya make the consumer lives easier?

  1. By signing into apps like Spotify or Sobeys Loyalty with your social media accounts, you are eliminating the nuisance of creating and remembering passwords for all of them.
  2. If you update any information on Facebook, like moving to a different city or country. ALL of your loyalty programs like Sobeys or Home Depot is updated as well. Giving you the most current and relevant promotions to you in that area.
  3. This is also great for businesses using Gigya. We all know that each consumer is absolutely not going to sign into their 60 different loyalty programs to change their address. Which means, that most of your data collection as a company, collected the old way, is 60% useless.

Fun Fact: Did you know that 6/10 mobile users, preferred Facebook as their primary option to sign up for Apps or Loyalty Programs.

Consumer Security is NUMBER ONE priority

Data security is on the rise, so much so that Chief Security Officers will be one of the highest paying career paths you can follow. And rightly so, companies are being fined millions of dollars for keeping private consumer information like Social Security Numbers on unsecured networks. The FCC fined TerraCom and YourTel America, $10 million for several violations of laws protecting the privacy of phone customers’ personal information. These companies didn’t even have a single breach where consumer data was hacked.

Another example is how Target found out about a teen’s pregnancy before her own father did! Target assigns every customer a Guest ID number, tied to their credit card, name, or email address that becomes a bucket that stores a history of everything they’ve bought and any demographic information Target has collected from them or bought from other sources. Target then uses this data to send out mailers for upcoming promotions based on your purchasing habits. Unfortunately for one teen, it was not the customer service she wanted. After maternity mail outs were sent out addressed to her, her father opened up the mail and was shocked.

Consumers need to be able to allow what they want to be marketed, especially if it involves something as personal as a pregnancy or an infection. Some things need to be kept private.

Which brings me to my last point, consumers also need the right to be forgotten. We have also noticed while shopping for a car or any product online, that we see ads on other websites for months later. Sometimes these ads can be intrusive or annoying. Even if we bought the product, we STILL get follow up ads. This comes down to our right to be forgotten. As brands become aware of this issue, companies like Gigya, support the right for us to opt out of these future ads.

Sharing your data and online identity can be scary. However, when brands do it right and use the proper protection of your data, it creates a personal, on-demand and trusting relationship with you and the brand. It is win-win for both parties.

For more information on Gigya, contact swalker@eclipsetechnology.ca

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s