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November 30th, 2017 | Jack Shepherd | smarter identity
Contemporary financial organizations are adopting cloud resources to empower their businesses. Specifically, they are looking to improve productivity by ensuring their employees have the best possible tools at a reduced cost.
That said, financial enterprises still face three major challenges when making the shift to cloud, and need a solution to help resolve these issues.
Financial enterprises are responsible for managing an immense volume of highly sensitive data. Information like high net-worth individual’s financial statements or social security numbers, for example, offer an extremely high payload for cybercriminals.
It’s critical that organizations control access to corporate apps to protect this sensitive data. But according to Skyhigh Networks, only 15.4% of the cloud apps used in FinServ support MFA out of the box. Failure to address these challenges often results in:
Account compromises and credential theft are the leading causes of data breaches. Identity and Access Management solutions like OneLogin enhance security in several ways:
Financial organizations are subject to internal and external audits, as well as regulations like The Payment Card Industry Data Security Standard (PCI-DSS), The Sarbanes–Oxley Act (SOX), and The Gramm–Leach–Bliley Act (GLBA). These enterprises need to not only exhibit best practices, but be able to demonstrate and document them as well. Failure to do say may result in:
Organizations need to optimize employee productivity to maintain an advantage within the intensely competitive financial industry. There are instances where just a few seconds difference can have massive financial implications. Many organizations suffer from:
In summary, OneLogin helps organizations like Dun & Bradstreet, Zurich Insurance, PennyMac, and many others reduce security and compliance risk, increase IT efficiency, enhance user productivity, and reduce costs.
OneLogin is perfect for Financial Services companies who:
- Handle a high volume of sensitive and regulated data within cloud apps
- Must satisfy internal and external compliance regulations around secure data and app access
- Want to improve user productivity and reduce technology friction
- Want to drive cloud adoption without fear of security concerns
Unlike other Identity and Access Management solution, OneLogin:
- Has a catalog of over 5,000 pre-integrated apps to make Single Sign-On easy for employees regardless of location, device, or app,
- Provides adaptive multi-factor authentication powered by machine learning for identity assurance, and
- Centralizes identity management by synchronizing directories in real-time
Want to learn more? Click the button below to get a free OneLogin demo.
Jack Shepherd is a Content Marketing Specialist at OneLogin, and is responsible for the production and management of original marketing content. Jack specializes in producing content around the latest trends in cyber security and cloud technology, as well as the developing areas of Identity and Access Management (IAM), software as a service (SaaS) and the internet of things (IoT).
View all posts by Jack Shepherd