There’s a meaningful opportunity arising for companies to make a positive impact. The need to create a safe, inclusive and sustainable digital ecosystem, all while protecting people from cybercrime, is a substantial driver of the new economy.
One critical area quickly emerging is the need to build digital trust infrastructure. The people who can help build trust online are vital to business success and building a better digital world. Risk, compliance, and IT security professionals are finding themselves in the drivers’ seat.
These individuals — the Champions of Trust — understand that digital identity is not just a technology but a way to build solid connections between people and organizations around the world. Creating spaces and channels for safe and trusted activities is one of the most critical jobs that needs doing now.
Are you a Champion of Trust? Or, can you develop your skills and knowledge to help drive your organization forward to become one? The need is substantial and the opportunity fantastic for those that can meet the challenge.
What is a Champion of Trust?
There is a new generation of professionals emerging to guide organizations through these tumultuous times. These professionals tend to be in a range of departments across an organization such as Risk and Compliance, Fraud Prevention, IT Security, Trust and Safety, and Customer Experience.
They are in key positions within their organizations to build trust with customers and create a more transparent, inclusive business. They are the people pushing the organization to grow the understanding, culture and technologies to become trusted identity-led businesses of the future.
Trulioo commissioned a comprehensive, global research to uncover aspirations, challenges, and priorities of these professionals. Interviews were conducted in 16 countries with 408 professionals with budget responsibility and/or influence around identity verification / authentication technology or fraud prevention. Respondents came from three industries: financial services, marketplaces and online retail.
The insights gained from the study are available in the Champions of Trust Research Report, and identify four typologies of identity professional within organizations today:
- Champions of Trust
- Interrupted Visionaries
- Tactical Operators
- Untapped Innovators
Champions of Trust are the rare group who spearhead their organizations’ approach to trust and digital identity. They operate at the highest levels within organizations and can drive their organizations and teams forward and achieve their ambitions.
While some identity professionals drive the digital identity agenda forward within their organizations, others face significant barriers to overcome. Being a Champion of Trust is not simply a matter of effort; digital identity needs resources and support throughout the organization to be effective. Vision and skill are vital, but collaborating and influencing leadership and other teams is necessary to gain the right tools and culture to deliver digital identity excellence.
Why are Champions of Trust important?
While the study indicates only 15% of identity professionals meet the Champions of Trust criteria, the belief in the importance of digital identity is strong; 94% say digital identity is an opportunity for competitive differentiation and industry collaboration.
Due to the reasons such as the increasing rate of digital transformation, 87% say digital identity is much more important to their organization compared to two years ago. For organizations, customers, and to help build a sustainable world, digital identity is the foundation of trust.
Today’s business leaders are acutely aware of the need to protect customers from identity theft and online fraud, yet find their organizations are often on the back foot, scrambling to keep pace with a rapidly evolving risk landscape.
Organizations need to shift to a more proactive, strategic approach to digital identity, not simply to manage emerging threats and ensure compliance, but to build more meaningful and sustainable relationships with customers and embed the agility and resilience required to support growth opportunities and expansion into new markets.
Being a Champion of Trust
The career path is a promising one for ambitious professionals who are looking to make a positive impact with their technical abilities. Digital inclusion is an exciting field with numerous opportunities and paths, but it’s changing fast and requires the ability to adapt.
Top-performing professionals in compliance, risk, and IT security recognize the need to develop their own skills to progress on their journey toward becoming a Champion of Trust and embrace new ideas and approaches to become more strategic, commercial, and creative in their thinking.
The Report indicates the top five skills and attributes needed for high-performing identity programs:
- Ability to influence and partner with other parts of the business to effectively convey the importance of digital identity
- Commercially-minded and outcome-driven to analyze the business impact of optimizing digital identity
- Empathy, compassion and desire to understand needs and expectations from people and businesses around the world
- Global perspective and understanding of digital identity across borders
- Innovative approach and understanding of latest technologies that can best support digital identity initiatives
The digital trust ecosystem is becoming increasingly complex and risky. Champions of Trust are needed to help build safer digital environments while also integrating the user and business values that are driving the new economy forward. Keeping abreast of new developments and improving their ability to interact with various stakeholders will grow their value within an organization and help them achieve their career goals.
Are you an aspiring Champion of Trust? Trulioo is committed to helping you gain the tools and knowledge to fulfill your mission for all those on the path.