What you do if you have lots of cash and someone is determined to steal it. Then where would you keep it? In your bank locker? In your own locker? Or in your mattress? Very tough choice to make when you know thieves are on prowl for your money.
Similarly if you are running a business, you have lots of valuable customers interacting with you using their digital identities either provided by you or other identity providers. You are not only dealing with customers but a whole lot of money.
According to the latest report by Boston Consulting Group customer identities could be worth about 8% of the total GDP in Europe. By 2020 digital identities could delivers 330 Billion Euros annual economic benefit that is estimated by BGS. 330 Billion is huge and that is why your customers are as valuable as money.
To extract that benefits you have to make user experience really a top notch for your customers. You have also need to pay special attention to the privacy issues surrounding digital identities.Remember that thieves, they are trying to listen all your online transactions. How do you save your customer identity and privacy from them and get that 330 Billion Euro?
Cloud is the solution to the problem. Identities should be stored on cloud based Cloud identity and management (cIAM) platform. Cloud offers various benefits over storing data on in house server. Cloud Identity Management is highly secure and from the customer point of view the added advantage it gives them is a reason to invest their money and personal data in you.
Researchers have stated that cloud service app will be account for 90 percent of the total mobile traffic worldwide by 2019. Mobile cloud traffic traffic will increase to 11 times between 2014 and 2019. According to the estimate made by Cisco only 14 percent of the workload being processed by traditional servers while four fifth of the workload worldwide will be processed by cloud data centres. Therefore cloud is definitely an important part of your business if you want to safeguard your money i.e your customers for future. (source)