IAM Solutions for the Finance Industry
The modern financial enterprise needs to be as good at data protection as it is at its core business. The amount of data that financial firms capture keeps growing, and so does the need to share it safely with customers, partners, vendors and employees.
Banks and similar institutions leverage identity and access management (IAM) by implementing technology protocols and policies that grant authorized parties access to sensitive resources.
One key area of IAM in finance is authentication. Financial institutions need to be certain users are who they say they are, and that they can only access the data their privilege levels allow. Password policies can restrict who can enter a system, but once inside, users’ activities have to be controlled by an identity and access management solution.
Identity authentication and authorization can become complicated for customers with separate login credentials for each banking service they use. Multiple digital identities can be complex for banks to manage and may compromise user experience.
Whether deployed in the cloud, on-premises or in a hybrid environment, an IAM solution for small- and medium-sized businesses (SMBs) needs to be seamless, secure and compliant. Optimal IdM helps financial organizations do business safely in the connected world.
