A consumer privacy, I think there's two sides to that, obviously, there's the side, the side of it as the consumer and what happens with my data, with my perspective, I find it really interesting when I'm kind of out and about on the interwebs and seeing what's happening. So, I mean, just yesterday, I was trying to login to my phone account to do something and the passwords changed. And I can tell that they have got some data lakes happening there because the password’s different over here to what it is over there. And they're not connecting and they should. And it's presented on the front end to me as a connected experience. But if I check into this area versus that area, there are different logins. And so as a consumer, I find that really annoying. I'm like, connect your data for God's sake. And for somebody who doesn't understand what's going on behind that would even be more confusing. And that always comes back to the data value exchange. I'm looking for value. I'm looking for ease of use to connect that data and to give them that data. And this particular company, it's my phone company and they have got all the data on me, quite obviously, so its like connect it for me to make my life easier.
So as a consumer, I think that's what people are looking for and they need it to be seamless. But the other side of it, working with our customers, it's a lot more complicated, so at the same time as I'm sitting here going, I'm really annoyed that you haven't managed to connect the data lakes, I also understand how much work is probably happening in the back end to actually connect those two and also how you're potentially being hamstrung by regulations and old sets of data and things like that. So it's interesting that I always come back to in the various panels and discussions I've always I've had about privacy. If there's a very clear data value exchange, you need to give them some info. You need to give them value to ask them for information. And there's a lot that as a brand you can find out without asking for personally identifiable information. And too often people default to I'm going to get all the data and then I'm going to do this individualized level of personalization or optimization or whatever it might be when there is much easier kind of lower hanging fruit that they don't need to get all that information for.
So it's just it's a constant tug of war. You know, consumer privacy is also interesting in the region that I'm in, which obviously is Asia-Pacific, where the cultural attitudes are very, very different. So, when I'm working with customers in South East Asia and Japan and India, the amount of data and information that people are willing to exchange for what we would think of is why do you why do you need my data to get access to the shopping center app or something like that? That's very different. So I think we also need to be aware when we're doing that kind of thinking from the brand side about consumer privacy that, as with everything, in fact, in terms of brand and marketing and technology, is that it's our point of view is not necessarily the only point of view. And this comes back to a diversity discussion, really. You need to have different voices in the room.
ZipComply believes that trust and security should be transparent and the industry standards that one should expect, regardless of being explicitly stated in a law.
We hope to educate everyone about consumer privacy. We ask the question "What does consumer privacy mean to you?" to people in different job functions. The answers might surprise you.
In general, people seem very passionate about consumer privacy. Stay tuned for more of these videos.