Digital Identity for Financial Services

Deliver an Omnichannel Banking Experience

Secure Online Banking with Identity and Access Management 

ForgeRock ties customers to unique digital identities so financial organizations can understand who their customers are, wherever they are. This makes it easy to offer customers new digital services for money transfer, investing, and more, that are accessible from any device and tailored to personal preferences.

The ForgeRock Identity Platform enables leading financial institutions to secure the identities of their customers as well as devices, services, and connected things. Today’s omnichannel banking experience requires continuous and contextual authentication as well as a frictionless, intuitive customer experience. That’s why the ForgeRock Identity Platform offers over 25 out-of-the-box authentication modules. Increased security doesn’t have to mean increased customer frustration.  

Webinar: Open Banking & PSD2

Forget the Fluff, What Do the Experts Think?

Online Debate Featuring ForgeRock, HSBC, and Open Banking. Broadcasting at the London Stock Exchange Studios.

A financial revolution is underway. Open Banking and PSD2 are the regulatory mandates set to change the way customers interact with banks and fintechs. By January 2018, banks need to provide open access via secure APIs to other banks and third parties. But what does this mean for the banking industry and beyond? Is this a threat or opportunity? The answer – both.

Register now for our live webinar on the 10th July to find out more.

retail banking, customer identity management
The Power of Identity: Learn how ForgeRock helps retail banks to build stronger customer relationships

Personalize the Omnichannel Banking Experience

Finance customers expect predictive, frictionless service that fits their digital lifestyle and is accessible from anywhere. They also want personalized recommendations that help to optimize their spending, planning, and investing. To meet these demands, financial institutions need an identity management solution that:

  • Simplifies customer registration and access to digital banking services while also maintaining high levels of security
  • Ties users as well as connected devices, and cloud services to digital identities that persist across access channel
  • Links customer identities and profile information between business units and accounts to create a single, unified customer profile
  • Recognizes customers, no matter the channel, understanding what they need, and providing it in real time

Privacy. We Take it Seriously.

Seriously. Financial companies need to address customer concerns regarding data protection and sharing. Keeping valuable data secure is not just about meeting new regulations and preventing financial loss, but more importantly, about protecting customer loyalty and trust.

  • Implement a modern identity management platform that can help address customer data privacy regulations
  • Simplify sharing data and giving consent with consumer-controlled data sharing across cloud, mobile, and the IoT
  • Build customer trust and mitigate risk by giving customers control over who can access their personal data, for how long, on what devices
  • Create new, personalized digital services made possible by data sharing

Privacy & EU GDPR:  With compliance with the EU GDPR required by May 2018, data privacy regulations are a serious concern. Download this paper for more insight into the future of privacy in the IoT era.

thomson_reuters_logo-svg

“Ultimately, we want to move every single identity and authentication service that we have onto our new platform based on ForgeRock”

-Jeff Bagby, VP of Collaboration, Thomson Reuters
See how Thomson Reuters went from 80 different identity platforms to one in this video from the ForgeRock Identity Summit.
Increase online banking security with mobile push authentication
Mobile push authentication provides organizations with a simple, seamless way to increase security

Increase Security and Reduce Risk

As digital technology advances, financial organizations face more identity fraud and increasing malicious attacks which impact top line revenue. But this isn’t the same old stolen credential problem. Now, it’s not just a matter of putting a bouncer at the door to check ID; it’s a matter of constantly checking for suspicious activity — the job of a detective rather than a security guard.

  • Apply continuous, intelligent security for connected users, devices, and services, ensuring authenticity of all relationships, all the time
  • Consider contextual cues including geolocation, device, and time of day to generate a risk score
  • Require additional factors of authentication in risky situations including security questions and biometrics, but only when necessary
  • Improve security while simultaneously maintaining a frictionless customer experience

1/3 of traditional retail bank revenue could be lost to competition from digital players by 2020 (Accenture)

Identity for Every Thing

Agile fintech startups are challenging the status quo, leveraging the power of mobile, cloud, and IoT to deliver new, innovative products and services. It’s critical that incumbent financial services organizations move quickly to address these new threats. However, legacy identity systems lack the flexibility, transparency, and scale that rapidly evolving digital businesses require.

  • Leverage a unified identity platform to quickly go to market with new, innovative products and services involving personalization, IoT, and more
  • Simplify complex identity relationships with built-in data visualization tools
  • Build on an enterprise-class open source identity platform, production-ready for hundreds of millions of users, devices and services.
  • Rapidly provision the identities of a new connected devices to reduce time market and easily revoke the identity of a device if it is sold or stolen.