How Mature Are Your Customer Identity Management Practices?
Banks' Self-Assessment Results Against Celent's Customer Identity & Authentication Management Maturity Model
Abstract
Banks around the world are at different levels of maturity in managing customer identities. The specific strategies and approaches for identity management and authentication at financial institutions continue to be shaped by individual circumstances, regulatory requirements, broader market conditions, and customer habits and preferences.
We wanted to develop a tool that banks could use to check how their efforts stack up against the industry best practices. First, we developed our Customer Identity and Authentication Management (CIAM) Maturity Model with three levels of maturity across five dimensions (see figure below). We then translated the maturity model into an online questionnaire and a scoring methodology to develop an online self-assessment tool for banks. The self-assessment remains open and available to financial institutions until the end of 2022 by following this link.
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