Beyond authentication: The new era of customer identity as a differentiator

By Omindu Rathnaweera – Head of Product Management and Architecture IAM at WSO2

In today’s era of digital-first interactions, customers have evolved from interacting with brands to seeking a complete experience. This translates to a need to create personalised experiences across every touchpoint for brands, with digital experience becoming the key differentiator that plays a significant role in influencing customers’ choices between competing services. According to a study by Mckinsey, 71% of consumers expect personalised interactions from businesses, with 76% expressing frustration when this is not provided. In terms of business value, companies that expanded their personalisation initiatives observed a 40% surge in revenue in comparison to others.

The creation of personalised experiences, however, becomes challenging due to isolated customer data, rigid access systems, and the phasing out of third-party cookies. As businesses lose traditional tools for tracking and targeting, this calls for a smarter, identity-centric approach ...