In an insightful interview with CanadianSME, Dan Kagan, SVP & Country Manager of Okta Canada, unpacked the Customer Identity Trends Report from Okta Canada. He provided strategies for businesses to leverage the increasing use of digital wallets in Canada while ensuring their security and user-friendliness for all age groups. Kagan shared methods to build consumer trust and data safety in using digital wallet services and offered strategies for simplifying login procedures and reducing instances of forgotten credentials. He also discussed measures that allow businesses to offer personalized experiences while granting users greater control and shared tips to boost the adoption of password management tools. Moreover, he suggested steps businesses should take to stay abreast of trends and ensure a secure, seamless user experience.
Dan has been leading Sales and GTM organization in the technology sector for more than 20 years. He has built his career leading SaS based organizations and has held senior roles at Actuate, Salesforce.com, DocuSign and most recently OKTA. Dan’s focus has been on building, leading and managing double digit growth for sales and GTM organizations ranging from SMB/Commercial business customers to Enterprise wide and Strategic accounts. Dan has received many Awards for his accomplishments and donates spare time to assisting start up companies navigate their first steps to market. Dan holds bachelor’s degrees in business from both Seneca College and Ryerson University.
Okta Canada released the Canadian findings of its first-ever Customer Identity Trends Report, can you begin by sharing the motivation behind conducting this research?
In today’s digital world, evolving consumer expectations are making it tougher for brands to capture their attention. On top of that, consumers are increasingly protective of their personal information and aware of their digital privacy rights.
Because of this, brands need to prioritize balancing convenience, security, and privacy so they can deliver the highly personalized experiences that consumers crave without running afoul of regulators or individuals’ desire for privacy.
Okta’s first-ever Customer Identity Trends Report is designed to help digital leaders navigate that challenge. It surveyed 20,000 consumers in over 14 countries, including 1,500 in Canada. The survey explored their online experiences and attitudes in managing their digital identity. It reveals how they’re thinking about convenience, security, and privacy — and the implications for brands.
The usage of digital wallets is on the rise in Canada, particularly among younger demographics. How can businesses capitalize on this trend and ensure that digital wallets are secure and user-friendly for consumers of all ages?
While digital wallet usage is on the rise – 42% of Canadians use them regularly, either every day or every week – some still hesitate to embrace them. Nearly a third don’t want to use one at all, with many citing security concerns.
Despite these hesitations, customers can take extra steps to ensure their digital wallet is secure without compromising convenience. The biggest threat against digital wallets on cell phones is actually the loss or theft of the phone, so basic measures such as phone locking is important in case it goes missing. They can also layer security with multi-factor authentication to access the wallet, such as with biometric login.
The survey found that a significant number of Canadians (51%) would only trust themselves to own and secure their data behind their personal digital wallets. How can businesses build trust and assure consumers that their data is safe when using digital wallet services?
When it comes to building trust with consumers, especially around data safety, transparency is crucial for businesses. Consumers are aware that sharing their personal information leaves a data trail, and they need to trust that the brand is being responsible with that information.
To build trust, businesses must communicate clearly what they’re doing with that data and how they plan to keep it secure. It’s also key that they implement security controls that give consumers the ability to choose exactly what information is shared.
The report highlights that many Canadians have numerous active accounts across various apps and websites, leading to challenges in remembering usernames and passwords. What strategies can businesses adopt to simplify the login process and reduce instances of forgotten login credentials?
Nearly three-quarters of Canadians have 10 more active apps they have an account with. It’s therefore no wonder that 68% feel overwhelmed by the number of usernames and passwords they have to manage. Forgetting passwords and usernames, especially when managing multiple accounts, can increase people’s risk of a data breach.
To combat this problem, Canadians should embrace password managers to keep their accounts organized (However, only 27% of Canadians currently use a password manager). Businesses also have a responsibility to simplify the login process for consumers, and can do so by enabling multi-factor authentication methods, such as biometric login or text verification.
Ultimately, introducing a passwordless login will have the greatest impact on brands, offering both a secure and seamless experience for customers.
The majority of Canadians (87%) expressed the importance of having control over their data. What measures can businesses implement to give users greater control while still delivering personalized experiences?
There are several solutions that brands can deploy to give consumers more control over their data while still maintaining security and reducing friction.
One example is anonymous or “guest” checkout, which allows users to use a service without having to create an account or for a brand to store information that is used to make a purchase. Another option is progressive profiling, which gradually asks the user for information as they experience more value from the service — while still allowing them to get started quickly.
The study indicates that only 27% of Canadians use a password manager to protect their data. How can businesses encourage the adoption of password management tools and raise awareness about their benefits?
While password managers are important tools in reducing the management burden of passwords, they’re a temporary fix. Brands need to shift towards a passwordless future. It’s the most effective way to keep customers’ data secure while improving the login experience.
As part of this shift, brands should prioritize deploying more convenient login experiences that make it easy for consumers to safely access services.
These include social logins that help streamline account authentication or biometric tools that are both convenient and secure.
Looking ahead, how do you anticipate customer identity trends evolving in the Canadian market, and what steps should businesses take to stay ahead of these trends and maintain a secure and seamless user experience?
From this study, one thing is for sure – Canadians are becoming increasingly more protective over their data. They value control over convenience while having high expectations of brands to deliver seamless digital experiences.
Brands’ approach to customer identity will need to continue to evolve not only to meet the demands of consumers but also to satisfy government regulations that are evolving to become more stringent.
To succeed in this new environment, brands must strike a balance between offering a seamless user experience and protecting customer privacy. This can be done in three simple ways:
Explore new solutions for data personalization and frictionless services, such as anonymous checkout and progressive profiling.
Transition out of the traditional username and password combination and offer secure and more convenient login options such as:
- Biometric authentication;
- Multi-factor authentication; or
- Passwordless login
Be transparent with users about how digital identities are managed, including why data is needed, how it will be used and what security measures are in place to protect user accounts and their private data.
