Insights for Identiverse 2023: Comparing Casinos and CIAM
Ping Identity is excited to see our customers, partners, and other IAM leaders at Identiverse 2023 in Las Vegas from May 26th to June 2nd.
So, what does the Entertainment Capital of the World and Customer Identity Access Management (CIAM) have in common? Las Vegas casinos and CIAM programs both aim to balance security and convenience by:
Delivering delightful customer experiences while managing risk
Verifying the identity of customers and authorizing transactions
Profiling and progressively getting to know customers to understand preferences, connect them to services they desire, and provide benefits
Guiding customers on a journey from unknown to loyal
Evaluating behavior to separate the bad actors from the good
Protecting against fraud, counterfeiting, and impersonation
Supporting omnichannel experiences across physical locations (casinos) and digital properties (gambling apps)
Ensuring resiliency across operations
In today's digital-first world, we must strongly identify, authenticate, and authorize users in order to boost security and protect our customers. This is true whether you’re an online business or a casino on the strip. Hackers and fraudsters, like casino cheaters, are constantly changing tactics to steal money. We must aggressively and purposefully consider new solutions and different approaches to stay one step ahead and prevent fraud.
To combat threats, more companies are offering multi-factor authentication (MFA) options to safeguard users. And their customers are noticing! Surveys indicate consumers put more trust in brands that offer additional security measures. To meet this expectation, businesses should build consumer adaptive MFA into digital services and leverage it as an eventual springboard to passwordless. Or, if possible, companies should leapfrog right to passwordless for new and existing customers. We need to use tools like MFA to slow down suspicious users when risk is high and, conversely, speed up trusted customers when risk is low, striking the elusive balance between security and convenience.
The term "playing with house money" basically means gambling without risk of loss. This is not the case with most digital relationships today. Casinos employ experts to simultaneously profile and surveil their customers to separate good actors from suspected bad actors. Similarly, the latest threat detection tools can evaluate risk signals in real time throughout the user session to determine trust and ensure valid users can transact quickly and easily. That way, your business won’t have to gamble on possible fraudulent activity.
In summary, the threats that Vegas casinos face are as vast and varied as the digital threats facing businesses today. We all must focus on securing people, businesses, and transactions without sacrificing experience to grow loyalty and revenue. It’s the only way to give our customers extraordinary experiences that keep them coming back for more.
During his keynote speech on the opening day of Identiverse titled Identity Under Attack, Andre Durand, Ping’s Founder & CEO, will discuss how AI is changing cybersecurity. We also invite you to join us at the Founders Party at On the Record inside of Park MGM on June 1st from 7:00–11:00 PM.
Plus, don’t miss an opportunity to give back at Identiverse with our latest Ping4Good initiative! Summer may have just started, but local charities are gearing up to support families in need by providing them with classroom materials. That’s why Ping Identity is partnering with A Precious Child to provide 3rd-5th grade students school supplies, and all attendees at Identiverse can help! Just stop by the Ping Identity Booth (Booth 1303) to build a bag for kids in need.
To request a 1:1 meeting or learn more about all the Ping-related fun, check out our event page for Identiverse.