Identity and Access Management for Financial Institutions

Accelerate your digital transformation

How Okta has helped financial institutions


Growth of monthly mobile banking customers

Midwest-based retail bank


Annual development cost savings

FieldPoint Private Bank & Trust


Hours of work saved per year for the technology team

Stay ahead of changes in the banking landscape

The identity landscape for financial institutions is quickly evolving.

Consumers have higher expectations than ever, and half of them consider switching providers if businesses don't deliver the digital experiences they demand.* Customers and employees alike have gotten used to seamless virtual experiences during the pandemic.

The banking landscape is shifting, with more fintech companies entering the market and the rise of open banking. And, globally, regulators are taking an interventionist approach to increase competition, increase cybersecurity, and protect customer data.

So how can you adapt to the changing times?

Identity can help.

How identity can help

  • Maximize regulatory compliance, minimize risk
  • Accelerate innovation and improve the customer experience
  • Modernize, automate, and streamline IT

Maximize regulatory compliance, minimize risk

  • Implement a security model across your institution—for both employees and customers—by ensuring the right people have the right level of access to resources and apps with the least amount of friction
  • Prevent cyber attacks, such as account takeover, identity theft, card-not-present fraud, authorized pushed payments attacks, and insecure APIs with strong, adaptive multi-factor authentication, authorization, and lifecycle management.
  • Implement built-in security and customer consent management to meet financial services regulatory requirements, while letting your developers focus on the customer experience.



Accelerate innovation and improve the customer experience

  • Build tailored, personalized experiences for your banking customers by analyzing customer engagement data
  • Empower customers to manage their account any time, anywhere, from any device through self-service capabilities 
  • Provide omni-channel experiences—like online/mobile banking, transaction verification for payments, and IVR authorization—by unifying your customer’s identity across apps and channels with frictionless, passwordless authentication
  • Beat your competition and implement open banking by sharing and securing your APIs—providing new products and services to your customers

Modernize, automate, and streamline IT

  • Drive efficiencies across your organization by providing one-click access to applications for your employees
  • Enable a hybrid IT environment to support continuous innovation while maintaining legacy technology 
  • Overcome internal data silos by integrating cloud identity into your applications to synchronize user identities and data across directories
  • Transform your IT culture with easier access, streamlined IT operations, and fewer manual processes

How financial institutions can use identity and access management

Secure mobile & online banking

Ensure secure customer access to your online and mobile banking apps with frictionless, strong customer authentication

Remote account opening

Verify customer identities with identity proofing and strong customer authentication. 

Call center verification

Use a wide range of authentication factors to smooth customer experiences while reducing fraud.

Payment verification

Stop fraud in its tracks and verify payment transactions with out of band authentication such as mobile push.

Customer privacy and consent

Give customers full, centralized, fine-grained control over consent preferences at the data object level. 

360 view of the customer

Enable a single source of truth for customer data and integrate with downstream apps/systems that also hold customer data.

Open banking/third party API management

Create new business models for your customers by securely opening your APIs to other third party providers so you can safely exchange data across your ecosystem. 

Secure centralized access to partner portals

Optimize end-user experience by centralizing their appropriate resource access in one secure partner portal. 

Secure, seamless access for your employees

Centralize identity management and establish a frictionless Zero Trust security posture. 

Want to start a conversation about how to accelerate your digital transformation?