Liminal is excited to be featured in a Forbes Tech Council article titled “Transforming Digital Experiences: The Evolution Of Integrated Identity Platforms.” Authored by our CEO Travis Jarae, the article explores how businesses navigate the challenges of security and convenience in digital interactions, emphasizing the role of Integrated Identity Platforms (IIPs). Read the summary and key takeaways below.
Article Summary and Key Takeaways:
Siloed identity signals are a significant issue in traditional digital identity management. While these signals may be effective for specific aspects of the user journey, they don’t offer a comprehensive view of consumer behavior. This fragmentation results in operational inefficiencies, increased fraud risk, and unnecessary friction in the customer experience.
To address these challenges, a shift in strategic c-suite conversations towards Integrated Identity Platforms is taking place. IIPs provide a unified approach, supporting a company's strategic ambitions and technical requirements throughout the consumer journey, from new account opening and registration to customer account management and engagement. This approach provides businesses with a more integrated and insightful view of their customers, significantly enhancing the personalization and security of user interactions.
Underscoring the escalating importance of IIPs in fulfilling consumer expectations, Liminal projects a total addressable market of $48.1 billion in 2023 for Integrated Identity Platforms and is expected to grow at a compound annual growth rate (CAGR) of 24.6%, reaching an impressive $115.9 billion by 2027.
This Forbes article illustrates how these platforms can transform digital identity management by enhancing security, streamlining operations, and improving user experiences. As the digital landscape continues to evolve, the role of IIPs becomes increasingly vital for businesses aiming to stay at the forefront of innovation and customer experience.