Identity management in banking and financial sectors

Transform the challenges of digital transformation into opportunities

Today’s customers are used to accessing consistent, personalized and, above all, constantly available services. This is exactly what they expect when it comes to their financial and insurance dealings. For financial service providers, on the other hand, the digital transformation brings further challenges: increasing legal regulations such as the new EU Payment Services Directive (PSD2) and the associated risks of data leaks. This means that, in addition to personalized services and smooth transactions, they must more importantly pay attention to simple, and at the same time, secure identification in order to delight their customers continuously.

Provide a secure experience that your customers will trust

With a customer identity and access management system like cidaas, you could not only meet the growing security demands, but also at the same time offer your customers a consistently personalized user experience. In short, CIAM solves the challenges of digitalization.

cidaas: The key to a successful digital transformation

cidaas helps financial institutions to benefit from digitalization and to transform their digital challenges into opportunities.

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Driving digital transformation with cidaas

Security and fraud detection

The number one priority in banking is security. Therefore, the best technologies for strong interfaces (APIs) and secure data hubs are just good enough. Especially when access has to be usable by third parties. Secure your data against unauthorized access with strong authentication methods such as 2-factor authentication (2FA).

Intelligent multi-factor authentication methods, including the use of biometric features
Integrated fraud detection protects against unauthorized account access
Highest security through the implementation of the industry standards OAuth2 and OpenID Connect
• Secure opening of interfaces to third-party service providers (TPP)

Meeting regulatory requirements

The latest legal regulations such as PSD2 or GDPR require secure authorisation not only for customers but also for third-party service providers. Know your Customer (KYC) is the keyword here. These regulations can be easily mastered by establishing digital relationships via a CIAM.

Secure API´s for opening your interfaces
Tamper-proof authentication methods using biometric factors
Highest level of security for sensitive customer data
Legally compliant data storage and management

Unique Customer Experience

Today's customers have high demands on their user experience, regardless of whether they just want to log in or buy a new financial product - the customer experience must be consistent throughout. Your customers are your most valuable assets, give them a consistent service experience at all touch points and benefit from unified profile data.

Simple registration and login processes (social login, biometric authentication)
Single Sign-On (SSO) across all channels
Progressive profiling replaces tedious registration forms and simplifies customer acquisition
User self-services for modifying own data

Factsheet: cidaas for Retailer

Find out in the factsheet how cidaas helps to meet the requirements of the PSD2 regulation and at the same time ensures a consistent strategy for the digital transformation of financial service providers.

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Factsheet: cidaas for insurance companies

Customer First: Insurance companies need to recognize, understand, enable and retain their customers. Find out in the factsheet how cidaas helps to get insurance sales ready for the future.

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