Apps are the gateway to vital information, so maintaining user identity is more important than ever. With changing attitudes towards cybersecurity and brand reputations at stake, many business leaders need to ask themselves an important question: Do customers today trust you to protect their data and will that brand loyalty remain in the future?
Data is the new value asset
A single hack can set reputations back as the magnitude of a cyber breach can result in severe losses to revenues. In recent times, large scale cyber-attacks have affected companies of all sizes across retail, banking, manufacturing, media and many other industries. Firms can no longer rely on traditional IT infrastructure because technological innovation and malicious hackers are exposing weaknesses in the system through sophisticated techniques, including malware and encryption. Companies need to rethink their security strategy and plan longer-term to safeguard customer loyalty.
Although innovative technology, such as the internet of things (IoT), has delivered tremendous progress, data breaches to inadequately protected devices and networks can quickly erode consumer confidence, which could take extensive resources to regain. A recent European report conducted by Opinium interviewed six thousand consumers covering the UK, Germany and France. The report revealed interesting findings, including two out of five people in the UK would not purchase smart technology for their home over hacking fears. The survey interviewed British citizens who expressed growing concerns over apps collecting their data and the platforms hackers are targeting today. In addition, almost half were most wary about leading social media sites collecting their data, whilst 58% believe it is the app that hackers will exploit to target them as consumers.
Attitudes towards being cyber-safe are changing rapidly. The Opinium survey also revealed that 74% of Brits now check their security measures when downloading apps, 88% check the security of banking apps and 90% with shopping apps, especially with concerns related to credit card fraud. As consumers become more discerning and vigilant about protecting their credentials, the demands on businesses will increase to prove that their service is robust, compliant and safe. It is quite conceivable that consumers will soon in the future differentiate brands based on their ability to protect data and whether they have the necessary security controls in place. The Opinium survey highlighted that over four fifths (82%) of German adults say they would be concerned about their financial data being hacked with half (51%) worried about their passport being hacked. In comparison, over four fifths (83%) of French adults say they would be concerned about their financial data being hacked with half (52%) worried about their National Insurance Number being hacked.
A company’s reputation will only survive and thrive if it understands consumer behaviour and implements a comprehensive security architecture to meet demands and safeguard sensitive information. Understanding risk, accessing, storing, processing, analysing, protecting and appropriately deleting customer data are mandatory for data compliance and demonstrating a strong security posture. It is essential for businesses to have the flexibility to quickly adapt to evolving trends, support new apps, accommodate a growing mobile community and maximise operational efficiency. In fact, studies have shown that the emotional state of users to network delays and data breaches for even very minor hiccups can cause stress and dissatisfaction. Looking ahead, consumers will know their data has intrinsic value and, as responsible cyber citizens, become more discerning about selecting services.
In the future, data protection and identity preservation will be at the heart of people’s choices when purchasing goods on-line, selecting a banking investment and even sharing credentials with local authorities. The digital economy is driving increased reliance on application services and forward thinking companies are implementing integrated security ecosystems to mitigate cyberattacks and fraud. A failure to scale the security architecture, safeguard and successfully manage customer credentials will be detrimental to a brand’s reputation.
Now ask yourself another question considering digital economic trends: Does my business have the right applications security solutions, which can keep customers happy? Remember, the way organisations deal with data will be a commercial differentiator for consumers. Now is the time to secure the trust.
New iPhone pricing for SA
The iStore has announced that the latest iPhones, the Xs and Xs Max, can now be pre-ordered at www.myistore.co.za , and will be available in stores starting 28 September 2018.
|iPhone Xs and iPhone Xs Max feature 5.8-inch and 6.5-inch Super Retina displays that offer remarkable brightness and true blacks while showing 60 percent greater dynamic range in HDR photos. iPhone Xs and iPhone Xs Max have an improved dual camera system that offers breakthrough photo and video features, A12 Bionic chip with next-generation Neural Engine, faster Face ID, wider stereo sound, longer battery life, splash and water resistance,
Pre-orders will be open for cash purchases and on iStore’s revised payment plan in partnership with FNB Credit Card, allowing customers to pay off their iPhone at a reduced interest rate. However, the contract period is 37 months rather than the usual 24 months.
Accenture opens Fjord design centre in Johannesburg
Accenture has launched its first design and innovation studio on African soil, Fjord Johannesburg.
The company says the move significantly expands its design capabilities and demonstrates its commitment to unlocking Africa’s innovation potential through the creation of experiences that redefine industries in our constantly evolving digital era.
The new studio, opening in November, will be located at Accenture’s new 3875m² offices in Waterfall. It will be led by Marcel Rossouw, design director and studio lead for Fjord Johannesburg.
Said Rossouw, “Brands are constantly asking, ’how does one take a business need or problem, build that out into a definition of a service experience, and then bring it to market?’ It’s about re-engineering existing service experiences, identifying customer needs, prototyping rapidly, iterating often and proving or disproving assumptions. But it’s also about getting feedback from customers. The combination of these factors helps companies advance towards the ultimate service experience.”
Fjord is the design and innovation consultancy of Accenture Interactive. The Johannesburg location marks its 28th design studio globally, solidifying its position as the world’s leading design powerhouse.
Working in the same location as Accenture Interactive will allow Fjord to fuse its core design strategy DNA with the digital agency’s expertise in marketing, content and commerce to create and deliver the best customer experiences for the world’s leading brands.
Accenture Interactive Africa‘s blend of intelligent design and creative use of technology has already been used by some of South Africa’s largest and most prominent brands, including Alexander Forbes, Discovery, MultiChoice and Nedbank. The digital agency has also earned industry accolades for its innovative and compelling business results, most notably two gold awards in the Service Design category at the 2017 and 2018 Loeries awards.
“Great design tells great stories,” says Wayne Hull, managing director of Accenture Digital and Accenture Interactive lead in Africa. “It unifies a brand, drives innovation and makes the brand or service distinctive and hyper-relevant in both the digital and physical worlds. This is critical to achieving results. Having Fjord Johannesburg as part of Accenture Interactive, and collaborating with all of Accenture Africa, will provide unique experiences and forward-thinking capabilities for our clients.”
“Businesses in South Africa are becoming more design-aware and are looking to take greater advantage of design skills to compete with the rest of the world,” said Thomas Müller, head of Europe, Africa and Latin America at Fjord. “We’re excited to open our first design studio on the continent and to be part of an emerging market that is ripe for design and innovation, and open for business. Developing markets like South Africa are challenging assumptions and norms about what digital services and products are meant to be, and we’ll strive to put design at the heart of the innovation being produced there.”