When was the last time you signed up to a website by filling out the entire registration form? Gone are the days where you had to fill out lengthy registration forms, create different usernames and passwords, and remember them every time you tried to login - awesome, right!
Consumers demand a smarter experience today. They don't like to create a new ID every time they want to utilize a service. Instead, they are open to leveraging their existing digital identity securely and easily, with the opportunity to reuse it in multiple domains.
And as a response to this demand, businesses have come-up with a concept called Bring Your Own Identity (BYOI).
What is BYOI
The "Bring your own" trend started when organizations allowed their employees to bring their device - BYOD. Later, it gained popularity and paved the way for many such concepts like Bring your own apps (BYOA), Bring your own technology (BYOT), Bring your own cloud (BYOC), Bring your own encryption (BYOE), etc.
Bring your own identity, or BYOI is also one such trend where consumers bring in their own digital ID, which is either managed by self or by any third-party.
Instead of asking consumers to fill in long forms as part of the registration process, you can allow them to choose their existing digital identity. These could be any of their social media accounts such as Facebook, Twitter, Google, or LinkedIn.
Moreso, with features like simplified registration (which is both quick and secure), the BYOI trend can address the problems of organizations that are losing consumers.
The Big Picture
With the pandemic forcing organizations to rethink their digital transformation, BYOI is a key part of securing user identities in 2021. BYOI (Bring Your Own Identity) will unlock the value in digital identities and is going to disrupt traditional methods of access in the future.
Many of your consumers have an existing digital identity, and BYOI lets them use an account they already have rather than creating a new one. By allowing your consumers to log in with an existing set of credentials, you make it simple for consumers to sign up for an account with you, increasing your overall conversion rate.
Identity Brokering is an approach where organizations/businesses do not require consumers to provide their credentials to authenticate. Instead, an identity broker service acts as a bridge between the Identity and Service Providers and enables the authentication process between the two.
Identity broker service facilitates BYOI by implementing industry-standard protocol OAUTH2. OAuth (Open Authentication) 2 is a framework that authorizes and enables applications to obtain limited access to a consumer's accounts on an HTTP service such as Facebook, GitHub, or DigitalOcean.
The LoginRadius Advantage
If you are the CSO or CIO of your company looking for a platform that acts as an identity broker, the LoginRadius CIAM platform is the perfect solution that can act as a bridge between multiple identity service providers.
The possibilities are endless with the LoginRadius platform in how you can set up your login flows to best serve your consumer's needs and meet your business goals. LoginRadius can integrate with any provider, so you can give your consumers the convenience and choice while having an optimized back-end infrastructure to ensure an automated and streamlined experience for your consumers.