What Will the Future of Digital Transactions Look Like?


The xDTM Standard Advisory Board recently convened in San Francisco to assess the progress of the standard to date and consider the impact of new technologies on Digital Transaction Management (DTM).

The Impact of the xDTM Standard

Since its inception in 2014, the xDTM Standard Association has expanded our advisory board with industry experts across a diverse set of industries and functional roles. In the last year, the board added members from Europe and Japan to provide a truly global perspective. As a result of our efforts, the DTM term has gained adoption in the industry and leading research firms Forrester and Aragon now cover the category. Most importantly, the industry is recognizing the importance of quality standards in improving trust and transparency in digital transactions as evidenced by ongoing efforts to standardize electronic signatures and digital records.  

Looking to the Future

The xDTM Standard set a high-quality bar across eight dimensions.  During the board meeting, the advisory board was joined by subject matter experts on blockchain, payments innovations, and identity authentication, to consider the impact of these emerging technologies on the quality bar for digital transaction management. Board member Eduardo Perez of Visa moderated a debate on emerging trends in payments and the security and privacy implications as the payment process becomes increasingly integrated into digital agreements. Our group had a spirited debate regarding how these new technologies will create new DTM capabilities, as well as what the resulting risks may be, and how to address those risks to preserve trust and transparency in digital transactions.

Privacy at the Forefront

Board member and privacy expert Rena Mears of DLA Piper led the group in a discussion around the impact that market dynamics are having on the privacy element of the xDTM Standard. Digital transformation initiatives are generating a proliferation of personal data, challenging the status quo and surfacing several discussion points:

  • New regulations such as the GDPR strive to address the increasing creation of personal data by extending consumer rights and increasing organizational accountability for protecting personal data.
  • Digital transformation has transformed product development with rapid development cycles and product iterations that often prioritize market demand instead of privacy by design.
  • The explosive growth of the Internet of Things (IoT) is creating everyday physical objects that collect and exchange sensor-based data over the Internet, introducing significant privacy risk.

The xDTM Standard Advisory Board will continue to study these trends and share our opinion on how organizations can adapt to changes in DTM while maintaining customer trust.



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