Building technical trust that serves and protects customers and manages technology risk
Trust—something challenging to build, and incredibly fragile to maintain—lies at the heart of today’s brands. Technical trust as an imperative is growing due to several evolving factors.
Bottom line impact: US$2.5tn annual cost of lack of trust to global brands1
Increased loyalty: 69% more likely to buy stock in an ethical company.
Digital leaders are embedding trust into their IT engineering and technology stack to achieve market speeds.
As the world continues to evolve and customers become more reliant on digital channels and products—technical trust has become increasingly important. Trust will continue to be the currency under which brands trade.
Companies who successfully build customer trust through technology share these common attributes:
create a culture of ethical use and transparency.
Wherever your organization is in its understanding of customer trust, KPMG can help assess, create, and transform trust within your business.
1
Unbiased baseline of technical, security, privacy, data, cyber, and enterprise risk capabilities, recommendations of improvement opportunities
2
Strategy, design and implementation of the trusted operating model, backed with trust analytics and reporting across a secure product lifecycle
3
Trust transformation program to rehabilitate or recover from lost customer trust; internal audit reimagined, unified governance framework
4
Data architecture, integration and analytics to deliver rich insights on specific risk use cases, KPIs and KRIs
The hardest part is often knowing where to start, but as good a place as any is asking yourself some critical questions:
Footnotes
1. Erica Perry, SocialMediaWeek.org, February 6, 2018, https://socialmediaweek.org/blog/2018/02/lack-trust-costs-brands-2-5-trillion-per-year-study
Customer trust
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