Safely modernize the customer experience by combining strong authentication and dynamic application authorization in one zero-trust solution.
Remote customers demand transparent, frictionless experiences and centralized control over their data.
These fast-evolving consumer needs are driving Open API initiatives to enable safe innovation in open API economy.
Financial institutions must find ways to extend API access to third parties like FinTech services, including access to private financial data.
These APIs, often carrying sensitive customer information, are attracting threat actors, elevating the risk of breaches, data leaks, and compliance violations.
Okta and Cloudentity combine strong user authentication with dynamic application authorization, giving fine-grained control over API access.
Okta gives bank customers a frictionless single sign-on experience, secured by Multi-Factor Authentication, extending appropriate access across their lifecycle.
Cloudentity brings that Zero Trust protection to the API level, delivering dynamic authorization so enterprises can better control how APIs share information.
Organizations can confidently innovate customer solutions and safely integrate with third-party providers while protecting sensitive data and respecting privacy settings.
Safely modernizing without compromising security or compliance
The rise of Open API standards around the world, designed to help the industry evolve more modern, customer-centric experiences, has been a boon for consumers. But these new initiatives can be challenging for existing institutions to safely implement. Even as new Financial Tech (FinTech) solutions arise to tempt their customers away, existing financial institutions can struggle to quickly but safely adapt their ecosystems to support a sudden proliferation of API-driven financial services.
How Okta and Cloudentity enable modern customer-centric banking
Modern financial services demand API-driven access—with permission—to customers’ sensitive financial data. Okta + Cloudentity makes this possible, enabling enterprises to safely onboard APIs and cloud services into Okta’s ecosystem. With Okta’s strong, frictionless customer authentication and Cloudentity’s AI-driven dynamic API authorization in place, financial institutions can centralize visibility and control over API-driven data access, so they can better protect customers’ sensitive financial information, honor dynamic privacy and consent settings, and remain continuously compliant with government and industry regulations.
Safely automate data exchanges according to Open Banking principles
Okta’s identity governance and lifecycle management work seamlessly with Cloudentity’s AI-driven dynamic authorization and transitional risk analysis to permit the fine-grained consent management that ensures financial institutions are respecting users’ consent choices and privacy settings while safeguarding their private financial data. Your teams can analyze risk in real-time using continual, contextual authorization at a transaction level, where access is granted or denied based on AI-driven threat intelligence and can set policies centrally, monitor transactions and other activity, and address threats in real-time.
Drive innovative customer experiences that reduce friction and build trust
With Zero Trust provided by Okta and Cloudentity, enterprises have a foundation to confidently build (through innovation or partnership) new customer-centric solutions. User logins are frictionless: You can securely authenticate each user once, then assign a unique ID to each transaction, encrypting tokens with the unique characteristics of each individual’s login device to protect against device and application cloning. Your APIs are secured as well, by dynamic access control policies pre-configured for finance, with an API Access Management solution that integrates easily with your existing API Gateways like Apigee, Mulesoft, and Amazon. And you can centrally manage customer consent privileges and reflect changes downstream, to stay ahead of compliance and privacy mandates.
Okta and Cloudentity merge strong identity management and dynamic authorization governance to secure modern services
Give end-users a safe and easy single sign-on experience secured with strong, adaptive Multi-Factor Authentication
Automate appropriate access privileges across each customer’s lifecycle with fine-grained access controls
Establish a Zero Trust foundation for securing automated data exchange and frictionless transactions
Manage API access with centralized visibility and control, enforcing access policies based on AI-driven risk and threat intelligence
Build next-gen financial services while honoring customers’ privacy and consent settings and safeguarding their sensitive data