Cyber security data breaches have been all too prevalent in recent years, with businesses neglecting the personal data of themselves and their customers. Intercede’s research found that 86% of systems administrators within major enterprises are using basic password authentication to protect data. If a security breach occurs, business reputations are at risk.
Due to the volume of alternative services throughout every industry, customer retention has become equally as important as customer acquisition. When customers value the reliability, dependability and strong customer service of a business, they are far more inclined to re-use that service.
The impact of a singular data breach on an organization can be catastrophic and have a significant negative impact on company finances and shareholder value. The ‘significant and sustained’ attack that affected TalkTalk on the October 21st 2015, did just that. Within two days of the attack, shares in TalkTalk had fallen by 10%, followed by further decline throughout the rest of the year.
MyID removes the need for usernames and passwords, meaning you can bypass the number one cause of cyber breach. Ensuring you adhere to the highest standards of corporate cyber security is a vital way of safe guarding your corporate reputation, with both shareholders
Discover how MyID’s highly flexible and customizable identity and authentication solutions enable trust for enterprises, governments, customers and employees