Hackers have caused considerable havoc in the first couple months of 2018, orchestrating nearly 160 large-scale breaches and stealing millions of sensitive records, according to research from the Identity Theft Resource Center. Unfortunately, living with the threat of a breach is now status quo for almost all businesses as well as individuals. Many businesses do not maintain effective security and data protection protocols to ward off cyberthreats despite growing sensitivity from users about sharing their personal information. In fact, an estimated 45 percent of global enterprises do not have simple data security measures in place, according to PricewaterhouseCoopers. How can businesses continue to ignore implementing stronger security protocols when users are increasingly wary of giving away their information?
Various issues prevent or dissuade businesses from adopting stronger cyber protections. One of the biggest issues is the focus to enable smoother, frictionless user experiences in order to increase registrations. Businesses are reluctant to implement stringent information safeguards for fear that adding complexity in the user experience, while likely to increase security, may ultimately hurt the lead to attrition in the initial engagement with a user. Burdensome login protocols and other overly involved data security procedures are attributed to higher rates of abandonment in the registration flow as well as possibly decreasing their likelihood that users will return.
How can firms protect users while maintaining an intuitive user experience? The answer: by working with partners like Evident who offer solutions that strike a healthy balance between usability and security. Evident has a fundamental belief that you can have a seamless user experience while simultaneously improving security and compliance.
There are, of course, precedents in the marketplace for this kind of experience. Google's consolidated login process and the streamlined electronic signature module that powers DocuSign are both good examples. Evident approaches data submission in a similar fashion, leveraging small but powerful UX features that reduce the friction for users while securely verifying and transmitting personal information.
On the surface, registration seems like an innocuous process that users of all stripes should find easy to complete. This assumption could not be further from the truth. Approximately 56 percent of mobile users abandon account registration, according to research from Harris Interactive published in AdWeek.
Imagine what would happen if half of your prospective users abandoned your registration. It would be a huge hit to growth at any company, not to mention a significant increase to the cost of acquisition as well as a waste of marketing efforts that led users to register in the first place. Researchers from the USC Annenberg School for Communication and Journalism's Center for the Digital Future found that 63 percent of modern consumers do not trust companies with their personal information. Consequently, many users opt out when they get to a registration step which asks for seemingly sensitive information, a surprisingly common occurrence in registrations.
Evident mitigates the impact of this common problem by streamlining the data collection process, providing transparency and clarity around who and when data will be accessed. Including details on how requested data will be used and what visibility a third party will have are just two ways Evident gives users more control over their information. Users are now empowered to decide what they want to share, resulting in more confidence in dealing with a brand that prioritizes their users’ security. Our structure facilitates optimal data security, demonstrates transparency to users from the beginning, saves users time, reduces errors and decreases opt-outs.
Transparent data protection
Organizations have traditionally used vague disclaimers in an attempt to assure their users that their personal information is protected. Some even leave out any mention of data security, believing customers will fly through the registration process without so much as a thought about personal data security. In today's environment where breaches are common and, according to analysts at Deloitte, more than 80 percent of customers believe they have "lost control" of their personal information, businesses can and should give their users more insight into data protection policies.
Evident addresses this issue on two fronts. First, we have created a platform built to give businesses and individuals a simple, secure way to interact with personal data, eliminating the need for a business to hold sensitive information. Our unique distributed data approach means that businesses eliminate exposure to personal data and remove the risk of a data breach, which gives everyone more peace of mind. Users no longer have to worry that they are giving away more information than necessary as well as knowing that businesses have better than bank grade security protecting the data they do share.
Secondly, we believe that a frictionless user experience and security of personal data is not only possible, it’s a requirement to reduce attrition in user engagement. In the user experience, Evident outlines what is shared with a third party as well as details the security controls that are in place, allowing the user to control what personal information is shared. When businesses receive permission to access the data, they are ultimately viewing a pass or fail for that category, minimizing their exposure to personal information and protecting the users data. Any additional information required by the business is sent to the user for approval prior to being shared with the company. All of this occurs within a frictionless, streamlined user experience where individuals have more control, minimizing the likelihood of user attrition, and businesses have minimal, lower risk exposure to sensitive information.
Minimum information collection
Apart from clunky navigation and a lack of data security messaging, users often turn back in the middle of registration when data input requests simply become too frequent or ask for information the user is sensitive about giving away. In fact, researchers for KPMG found that only 50 percent of consumers were willing to share their level of education, ethnicity and gender online. Only 14 percent were open to submitting their address. These survey results demonstrate the extreme data privacy concerns on top of your customers’ minds as they engage with your products and services.
Evident meets this complication head-on with a streamlined personal data management and sharing solution that minimizes the amount of information that is required. The simple act of including only a few critical inputs helps put users at ease and allows them to move through the process more smoothly. Plus, businesses on the receiving side take in just the information they need for intelligent decision-making - no more, no less. Both of these outcomes depend on a short and easy registration process, benefiting businesses and individuals.
Does your organization need help streamlining its data submission protocols to meet the needs of modern users? Connect with us today to about how we improve your user experience while simultaneously improving security.
Nathan Rowe brings over 15 years practical experience in information technology and enterprise software strategy and product management with a focus on security, networking, and wireless technologies. He maintains a customer-centric mindset to understanding needs and pain points. He has extensive background working with commercial and government organizations to help define and implement security and network support strategies.