Digital Trust: The Key to Unlocking the Promise of a Digital Economy

Digital Trust in AustraliaThe Key To Unlocking The Promise Of A Digital Economy

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Intelligent Automation

Liquid Workforce

Platform Economy

Predictable Disruption

Digital Trust

The Accenture Technology Vision 2016 identifies five technology trends fuelled by the people first principle and that are essential to business success in the digital economy.

3Copyright © 2016 Accenture. All rights reserved.

Why are we talking about Digital Trust?

Company operations are affected:

In the age of mass personalisation and IoT, information is inherently more personal. This data underpins a company’s

operations.

Security needs to be data-centric:

Tomorrow's standard will be security that follows data and continuously ensures

connected devices are uncompromised, authenticated

users are who they say they are, and security is ‘baked-in’

to new offerings.

Costs are rising:Digital businesses that rely

on data insights and intelligent automation are exposed to unprecedented and

systemic risks.

Proposed amendments to Australia’s privacy laws:

Under these proposed laws, businesses (and

Commonwealth Government agencies) will need to notify

affected individuals of a ‘serious data breach’ relating to their personal information.

Address Digital Risk with Trust

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End result? Trust helps brands build strong and enduring customer relationships

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Apple Relies On Trust To Enter New Markets

Its efforts to be transparent in how it uses and secures customer data is testimony to the value this leading brand places on trust: strong security and ethics that are ‘baked in’ give customers confidence that their digital footprints are secure and private, easing the transition to and adoption of the Apple ecosystem.

As Apple has shown, trust differentiates competitors in the digital economy where businesses can reach vastly more people, iterate quicker, and make faster, better decisions than ever before.

When customers trust a service, product, or brand, they look to it for guidance into the digital future

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Homekit

Healthkit

Researchkit


Ethics and Security

86% of Australian respondents to the Accenture Technology Vision 2016 survey agreed that “Trust is the cornerstone of the digital economy.”

In today’s digital business environment, trust is built on two major components:

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But achieving trust requires more than strong ethics, it demands robust security


Source: Accenture Technology Survey

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83% Australian executives agree that organisations need to move from an exclusively perimeter-based security model (e.g. firewalls, intrusion detection systems) to include human factors-based security (e.g., cognitive fingerprinting, hardware authentication).

83%

84% of organisations have experienced at least twice as many privacy or security breaches compared to two years ago.

84%


Adallom Cloud-based access controls that offer visibility, governance, and protection for data. Crysp Leverage sensor data and other context

to invisibly authenticate users.

BehavioSec Measures human behavior to recognise or verify person’s identity. Illumio

Workload- and app-based security policies that transverse the cloud and adapt to infrastructure changes.

BioCatchAuthenticates users, detects threats by analysing users’ interaction with online and mobile apps.

InAuthMobile-first authentication & fraud prevention across mobile apps, mobile browsers, and desktop browsers.

BitglassCloud-access security broker that traverses perimeter security and operates at the device level.

Lookout Uses predictive analytics on mobile devices to detect, isolate, and stop attacks

BlueboxWrappers to segregate work from personal apps and apply app-based encryption and security policies.

Okta Cloud and mobile identity management with granular controls for applications and data

Bromium Uses virtual application wrappers to isolate threats and stop breaches. SparkCognition

Applies machine learning & AI to cloud security and IoT to find patterns in attack vectors attacker behavior.

Covertix Assigns policies & rights to data files, effectively locking out hackers and malicious insiders. Tanium 15-second visibility and control over every

endpoint.

Robust cybersecurity is moving away from perimeter-based tools and closer to data

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Digital Trust: 100-Day PlanSurvey stakeholders to quantify the level of trust across your business portfolio.1

7 Compile a list of opportunities for security to move closer to the data used by the business, and investigate ways that data can be secured.

2Search customer service logs for the word ‘trust’ and run sentiment analysis to learn how customers perceive your brand; make a top-five list of the least trustworthy offerings.

3Take an inventory of data-driven business processes; describe the current and potential opportunities for enhanced security and data ethics for each.

4 Identify the executive(s) responsible for building & maintaining trust, digital ethics, and security with vendors, partners and customers.

5 Research what your competitors do to build customer trust. Record what builds and erodes trust.

6Consider partnering with an academic institution, non-profit, or industry group to dive deeper into one aspect of digital ethics or security. The innovative solutions that can result from such a partnership have the potential to markedly increase a company’s security posture*.

* “The Cyber Security Leap: From Laggard to Leader”, Accenture, November 2015.


Digital Trust: 365-Day Plan

2 Discuss hiring a chief digital officer, chief trust officer or chief ethics officer.

3Pick one product/service to maximise trust. Build metrics for tracking improvement over time. Report results to product teams and challenge them to meet aggressive targets.

4Start tracking metrics for trust and both data and digital ethics. Use this data to include trust and ethical practices in your company’s annual CSR report.

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Implement a portfolio of solutions to move security closer to data. Describe how their implementation has mitigated downside risk. Share this report with your CIO and CFO in an effort to reduce insurance premiums.

From the top-five list of the least trustworthy products, do a complete customer journey analysis. Identify areas to build trust.

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Key Takeaways

Ethics and security must be primary considerations in any

digital transformation.

Exposure to risk scales in proportion to digital business

operations.

To protect against downside risk, businesses must foster strong ethical,

effectively use security to protect against external threats, and build trusting

relationships with ecosystem stakeholders.

In procuring new technologies, security and ethics must be

evaluation criteria.

Look for opportunities to build trust at every engagement point

along the customer journey.


How can Accenture help?Assess and ArchitectProvide foundational capabilities to effectively measure and manage Enterprise IT Security.

Digital IdentityProvide capability to manage identities, authentication/privileges to employees, suppliers, customers and devices.

Cyber DefencePortfolio of capabilities required to predict, detect, respond to & remediate against malicious threats to the enterprise.

Managed Security Solution provided to clients to deliver security capabilities for them as-a-Service leveraging Accenture’s MSS platform & third party tools.

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Thank youwww.accenture.com.au/digitaltrust

FOR MORE INFORMATION CONTACT

JEAN-MARIE ABI-GHANEMAccenture APAC Security [email protected]

http://www.accenture.com.au/digitaltrust