TalkTalk Market Share Drop – Businesses must Act now

Following news that TalkTalk saw a significant drop in its market share following last year’s wide-scale cyberattack, Richard Parris, CEO at Intercede have the following comments on it.

Richard Parris, CEO at Intercede :

“The news today, from research group Kantar, of a significant drop in TalkTalk’s market share in the wake of the company’s most recent security scare, should be a wake up for all businesses. Consumers do care about the security of their digital assets and will churn to a competitor if you fail to protect them.

“Businesses need to act now and stop relying on out-dated verification and authentication technologies. The unfortunate reality is that many are simple enough to be cracked by a small group of idle-thumbed teenagers. If these young men and women are capable of it, then so too are a group of malicious hackers.”

In an independent survey of 2,000 16-35 year old consumers it was revealed that very few place any significant trust in companies’ ability to protect their personal data. For telecommunications operators 40% described their level of trust as ‘none’ or ‘a little’.

[su_box title=”About Intercede” style=”noise” box_color=”#336588″]Intercede is a software and service company specialising in identity, credential management and secure mobility. Its solutions create a foundation of trust between connected people, devices and apps and combine expertise with innovation to provide world-class cybersecurity. Intercede has been delivering solutions to high profile customers, from the US and UK governments to some of the world’s largest corporations, telecommunications providers and information technology firms, for over 20 years. Intercede’s product portfolio includes MyID, an identity and credential management system that assigns trusted digital identities to employees citizens and machines. In 2015, Intercede launched MyTAM, enabling trusted applications to be loaded into a mobile device’s Trusted Execution Environment (TEE), providing hardware-level security for Android apps.[/su_box]