Secure Authentication to eliminate fraud in Financial Services
As a bank or financial institution, you face rapidly growing cyber threats, the constant introduction of new technology, and evolving compliance requirements – so it’s critical that you have the confidence to keep your institution, employees, and customers protected.
Customer Success Stories
Overcoming Your Challenges with Our Expertise
Customer-first, Personalized Experiences
As a financial institution, providing an optimized customer experience is crucial in order to reduce churn, increase retention and roll out new products and services. To keep customer relationships paramount, you must deliver a unique human cybersecurity solution.
Our unified IAM platform, PortalGuard, supports the unique requirements of banks’ daily operations with the easiest to use and hardest to hack security solutions that provide a seamless, frictionless experience for customers while also ensuring the highest level of security and protection.
Scalable Solutions to Gain Competitive Edge
As an IT leader within the financial services industry, you are expected to not only safeguard highly sensitive data, but to do so with strict budget constraints. That means you need to get the most out of your cybersecurity solutions, using technology to drive innovative customer solutions and product offerings in order to keep your budget where it matters most – focused on the customer experience.
We designed PortalGuard to address your specific needs and challenges operating within the financial services industry. Our robust unified IAM platform eliminates the use of multiple IAM vendors to drastically reduce overspending, redundancies and cybersecurity risks. Now, you and your IT team can help further the core business mission to products to market faster and remain a step ahead of the competition.
Tools to Navigate the Cyber Risk Landscape
In the financial services sector, you not only need to worry about protecting extremely sensitive customer data, but you must also ensure compliance with a range of stringent regulations, including the Payment Card Industry-Data Security Standard (PCI-DSS), Gramm-Leach-Bliley Act (GLBA) and the Sarbanes-Oxley Act (SOX).
When it comes to your cybersecurity solution, you need to be confident that you can establish trust at the deepest level – between the bank and the person taking action. BIO-key’s Identity-Bound Biometric authentication is NIST-tested and PortalGuard’s Adaptive Authentication provides complete transparency into user access scenarios, so you know only approved individuals are accessing your systems.
Our Solutions in Action
We understand that the security needs for financial institutions are unlike those of any other industry, and we design our solutions for those specific use cases.
Customer Identity & Access Management (CIAM)
Unfortunately, traditional Identity and Access Management (IAM) often leaves behind a group of people that plays a vital role in the success of banks and financial institutions: customers. Not only can deployments like online banking be extremely expensive, but they also make or break the user experience for customers. Identity-Bound Biometrics (IBB) provides customers with a secure, frictionless, passwordless experience while keeping the cost down for you.
Shared Workstations & Kiosks
It’s critical that your employees can smoothly, efficiently, and securely carry out their daily operations when they’re working on shared workstations. While authentication using physical tokens and mobile devices can be options, they’re often not viable choices due to your security policies, high cost, and inconvenience. With IBB, you can quickly implement station-based fingerprint scanners and a one–time enrollment for all users to enjoy a passwordless login experience at any device across any branch location – without needing to use phones or tokens.
Zero-Trust Environments
The Zero Trust approach trusts no one and treats every person and every device as a potential threat. Implementing multi-factor authentication (MFA) is one of the core steps to implementing Zero Trust – and PortalGuard offers the widest range of authentication methods across the three main categories: something you know (passwords), something you have (tokens), and something you are (biometric identity). Because Identity-Bound Biometrics authenticates the actual identity of the user, there is no stronger way than IBB to establish trust where you need it most.
Customer Success Story
Why One Bank Adopted Biometrics to Move Away from Passwords
As cyber threats continue to present a significant risk to commercial banks, many are rethinking and improving their authentication strategy. Even the FFIEC and OCC have updated their guidance on how Multi-factor Authentication (MFA) or controls of equivalent strength can effectively mitigate inherent risks and prevent unauthorized access.
Because of this, along with recommendations from their IT Security Officer and auditors, the Orange Bank & Trust company successfully moved away from passwords, confronted cyber risks head-on with MFA and Identity-Bound Biometrics (IBB)
“Our team at Orange Bank is partnering with BIO-key to provide our financial institution with a cloud IDaaS solution that delivers advanced biometric authentication. BIO-key provides both biometric authentication and a proven suite of IAM solutions that provide security flexibility and value over approaches offered by other vendors.”
Orange Bank and Trust Company
Product Recommendations
Identity-Bound Biometrics
See how IBB offers the highest levels of accountability and versatility by establishing trust that is rooted in a person’s biometric identity.
Multi-factor Authentication Approaches
Implement authentication approaches such as adaptive, step-up, passwordless authentication.
Single Sign-on
Secure and access all of your applications through a single point of strong authentication with a single IdP.
