Freely subscribe to our NEWSLETTER

1. Authentication Means Everything: With the recent and continued failings of companies to secure customer access, 2020 will likely see the rise of large-scale multi-factor authentication adoption by enterprises and consumers. Companies who are truly looking to protect their customers and most importantly their revenues, will embrace higher forms of authentication to achieve those ends.

2. America Gets Serious: The U.S. is one of the few developed countries without a national data privacy standard. Not only is it hurting America economically and commercially, it has started to raise concerns relative to national security and the protection of American citizens. Congress will likely finally step up to address this gap and ideally take the lead by protecting more than just data, but the digital identities of all Americans.

3. Privacy and Security Become Competitive Advantages: In 2019 we saw the very beginnings of commercial enterprises promoting their privacy and security practices to their customers as a competitive advantage. In 2020, this trend will accelerate as companies begin to adjust to the new reality. A reality where more than 60% of customers hold companies responsible for protecting their data.

4. Rise of the Digital Identity: Digital identities were a thing of fiction just a few years ago. In 2020, commercial and government interests will begin to intersect as state and federal governments, as well as various sectors of business (ie: financial services, social media, healthcare) rush to build “digital identity standards”. Some standards will be built with the needs of the consumer/citizen in mind, but time will tell if others attempt to capitalize and commercialize the value of these digital identities.

5. Consumers and Citizens’ Patience Runs Out: In 2019 consumers and citizens began to voice their concerns over companies’ repeated data breaches and security failures that have exposed their data, finances, families and services to greater and greater risks. In 2020, we’ll see true and substantial consequences for organizations that do not keep their customers, employees, partners and citizens safe in the digital world. With over 80% of consumers reporting they would stop engaging with a brand online following a data breach, it’s clear that people are ready to walk away from companies that can’t get identity and security right.