Identity-Management-DefenseIdentity management is playing an important role in fighting cyber attacks. It’s welcome news for businesses concerned about data breaches and the negative impact they have on customer loyalty, brand image, and company profitability.

As brands seek to improve customer experiences, they are accumulating high volumes of valuable customer financial data and personally identifiable information. With more mobile apps and digital customer touch points, the amount of data companies manage is growing which increases the potential for attacks that cost brands a staggering amount each year. In the US, cybercrime cost breached companies an average of $12.7 million in 2014, with some experiencing damages as high $61 million according to the Ponemon Institute.

Technology innovators are responding by developing more data security tools, and as identity data increasingly becomes the hub of digital business, identity management is playing a central part. Customer identity management platforms combined with security analytics software, such as the recent interoperability announcement between UnboundID and RSA Security Analytics, offer a powerful way to detect possible breaches early enough to mitigate the damage. The combination enables IT administrators to correlate anomalies in customers’ online behavior with threat indicators. Brands gain detailed and complete intelligence on when, where and how hackers are trying to gain access to sensitive customer data. Armed with this information, they can take decisive, targeted action to prevent or respond to an incident before it can affect the business.

Security analytics software can augment the data security capabilities of some customer identity management solutions. In some instances, identity management platforms enable granular security and governance controls to prevent unauthorized access to sensitive customer data. And customer preference management can be another important aspect of data security. Customers can specify the data they want to share and how brands can use their information, offering another layer of protection against misuse and theft.

Having a proactive way to detect attacks will help companies better manage data security risks and strengthen their ability to use data to enhance customer experience. In the midst of so many data breach headlines, it’s encouraging to have some positive news on the topic of cybercrime.

UnboundID’s interoperability with RSA® Security Analytics leverages identity data and security intelligence to deliver a unified dashboard for real-time analysis of and response to threats. Learn more in the press release, UnboundID Achieves Interoperability with RSA Security Analytics to Correlate Customers’ Online Behavior Anomalies with Threat Detection.