Plotting the Roadmap For Digital Identity

At Curity, we strive to stay informed and up-to-date with new technology. Digital identity is central to how we interact with today's digital world. It has the potential to transform how we prove that we are who or what we say we are during digital interactions. What's happening in digital identity with the advent of digital wallets and decentralized identity is very interesting to us.

We are keen to understand what organizations and consumers think of the future of digital identity and if they are ready to embrace new, emerging technologies. To investigate this, we surveyed 200 IT decision makers (ITDMs) in the UK and US and 1000 consumers. We have published the results in our report entitled  “Plotting the Roadmap for Digital Identity”.

Here are some of our key findings:

• 60% of organizations surveyed expect digital identity to have a transformative impact on their industry, with financial services (89%) and healthcare (86%) seen as industries set to benefit most from the latest innovation in this area, according to ITDMs.  

• 42% of US organizations are utilizing digital identity solutions compared with only 28% in the UK.

• 60% of consumers highlighted data privacy risks and fraud as reasons they would be hesitant to store personally identifiable information in a digital identity wallet.

• Top security challenges posed by digital identity according to ITDMs are hacker sophistication (39%) and lack of appropriate infrastructure (37%).

• 57% of organizations have plans to introduce decentralized identity solutions into their operations. 

These highlights are encouraging signs that businesses are preparing for the paradigm shift that decentralized identity will bring. Those that cultivate trust among consumers will be ahead of the others. Other details in the report indicate this as well. For further insights, you can download the full report from the resource section on our website.