Security: The Cornerstone of Modern Business Success

Background:

Security is a differentiator and a key driver of consumer buying decisions.

According to the Deloitte survey data:

• 80 percent of consumers who responded to the survey say they are more likely to purchase from  companies they believe protect their personal information.
• 72 percent avoid purchasing from companies they believe take insufficient measures to protect consumers' personal information.
• 70 percent say they would be more likely to buy from a  company that a third party verified as having high standards for data privacy and security.
• 59 percent say knowing a company experienced a data breach would negatively impact their likelihood of buying from that company.

According DigiCert survey to the 50% of consumers consider data security a major factor in their purchasing decisions, 

This heightened awareness underscores the critical role that robust identity security and fraud prevention measures play in influencing consumer trust and loyalty.

Article:

In today's digital era, data security and privacy have become essential to customer trust and loyalty. Deloitte's findings show that 70% of customers are more likely to buy from companies verified as having high standards for data privacy and security. This shift mirrors the way consumers once favoured companies for their environmental practices or locally made products. Now, trust in data protection has become the defining metric of competitive advantage across industries such as banking, telecommunications, and retail.

"Customer trust is the foundation of business success," says Richard Metcalfe, Vice President of Asia Pacific and Japan. "Security is no longer just a back-end safeguard—it's the hallmark of a company's values and priorities, shaping how customers view and engage with brands."

Financial institutions like Westpac illustrate this shift, leveraging their marketing to emphasise customer security as a differentiator. Through initiatives like expanding fraud prevention teams and launching enhanced tools, Westpac positions itself as a trusted partner, addressing consumer fears while building brand loyalty. These efforts demonstrate that effectively communicated security measures are no longer optional—they are key to fostering customer confidence and driving business success. 

Unified Platforms: The Path Forward for Security and Efficiency

The era of standalone tools for identity verification or fraud prevention is over. Businesses are transitioning to unified Customer Identity and Access Management (CIAM) platforms that integrate identity security, fraud prevention, and orchestration into a single, cohesive solution. This evolution is reshaping the security landscape by eliminating vulnerabilities inherent in fragmented systems while streamlining operations.

Richard Metcalfe highlights, "The fusion of identity verification, fraud prevention, and orchestration isn't just a security enhancement—it's a business enabler. By reducing operational costs and closing security gaps, unified platforms drive efficiency and customer satisfaction."

Key benefits of unified platforms include:

• Enhanced Identity Security: Integrated systems reduce exposure to threats by closing gaps in siloed tools.
• Frictionless User Experiences: Real-time orchestration delivers seamless customer journeys tailored to varying risk levels.
• Operational Efficiency: Consolidation reduces vendor management complexities and costs, enabling businesses to scale effectively.

As 2025 approaches, adopting unified platforms is critical for businesses to remain competitive. These platforms ensure not only robust security but also the agility to adapt to evolving threats and regulatory demands.

Identity Security as a Competitive Advantage

In the digital marketplace, trust has become the new currency. Data security is no longer a secondary consideration—it's a primary factor influencing consumer purchasing decisions. Customers are increasingly aligning themselves with organisations that demonstrate proactive measures to safeguard their information, whether they are choosing a bank, booking a flight, or selecting a telecommunications provider.

Organisations that integrate strong identity security and fraud prevention measures into their platforms set themselves apart by fostering seamless and secure customer interactions. "In a competitive market, organisations that prioritise security and seamless access don't just meet expectations—they redefine them," adds Metcalfe. "Security has evolved into a differentiator that builds trust and unlocks growth opportunities."

Why CIAM is Essential for the Future

As digital transformation accelerates, unified CIAM platforms offer the tools needed to meet the demands of an increasingly security-conscious consumer base. The 2024 Forrester Wave™ for CIAM underscores the importance of solutions that deliver scalability, real-time orchestration, and integrated capabilities. Read the full Forrester report

Heading into 2025, businesses that invest in unified platforms are positioning themselves to succeed in a landscape where security drives differentiation. These platforms provide not only robust protection but also operational efficiencies and seamless customer experiences that build lasting loyalty.

In a world where trust defines success, embracing unified CIAM solutions is no longer optional—it is essential. Organisations that act now are laying the groundwork for long-term growth, resilience, and competitive strength in the years ahead.

About Transmit Security

Transmit Security is eliminating silos, security gaps and complexity with a fusion of customer identity management, identity verification and fraud prevention in one transformative platform. Mosaic by Transmit Security unifies best-of-breed modular services — purpose-built for resilience and scale. With cybersecurity in its DNA, Transmit Security is trusted by 7 'top 10' US banks and Fortune 500s.

Discover more at www.transmitsecurity.com