Banking & Financial

Banking & Finance Services are undeniably the most sought-after services for people globally and they are as vital as the daily food supplies. Whether you are a student or a businessman or a working professional, you just can’t do away with banking services. They are an integral part of our lives. Online and mobile banking services to manage finances and e-commerce for shopping has gained momentum in the last two decades across the entire world.

Before the advent of the internet, all financial services were done offline but now in the 21st century, given that there’s a boom in the use of the internet, most of the banking is done online and is not just confined to the bank buildings anymore. And more recently, with the explosion of cutting-edge banking technologies like mobile apps for banking on the go, blockchain for reduced banking costs, and Banking as a Service (BaaS) platforms for better financial transparency, the way financial institutions function has got redefined to a new level.

There is a paradigm shift among banks from the use of proprietary custom tools for managing their user identities to more robust third-party IAM tools for ensuring enterprise-grade identity security and greater operational efficiency.

Identity Security For Enterprise-Grade Security:

The very reason for the existence of the banks is to safeguard the customers’ financial assets and offer a seamless banking mechanism for both offline and online customer purchases without any fraud and error in the transactions. This is achievable if banks are able to deploy state-of-the-art cybersecurity measures to protect their invaluable data assets —the bottom line is financial institutions of all sizes need intelligent, robust, and streamlined Identity security for safeguarding the organisation’s crown jewels.

To combat the security threats from cyber attackers, it is imperative for banks to implement concrete IAM solutions, including Privileged Access Management (PAM) for privileged user access and Single-Sign-on with MFA for secure passwords, and Identity Governance for compliance. At InfoGravity, we deal with best of the breed IAM vendors like SailPoint, CyberArk, & Ping to provide top grade Identity Security for our customers in the Banking & Financial industry.

Identity Governance For Compliance of Regulatory Laws:

Financial services need an effective Identity Governance framework for meeting the regulatory and compliance requirements of the industry. With the current trend of increasing regulatory fees and industry compliance cost in the banking sector, any non-compliance or a violation of a regulatory law can result in the banks/financial institutions incurring a hefty penalty. According to SailPoint, the cost of industry compliance is forecasted to be US$ 181 billion for the year 2021. Thus, real-time compliance with the prevailing regulations in the industry can help banks save a lot of unforeseen expenditure.

Why Choose InfoGravity?

At InfoGravity, LLC,

our passionate team of experts are equipped with the best technical know-how to offer the best IAM security solutions that meet the stringent compliance requirements in the industry for your financial institution. Our competence is in offering a comprehensive cybersecurity program that is customizable to suit the specific business needs of the financial institutions. We are committed to providing world-class Identity Security solutions for all our customers’ pain points across all the uses cases in the banking industry, leaving no stone unturned.

We accelerate the overall banking efficiency with robust Identity Security by:

    • Reducing the manual tasks via automation through AI (Artificial Intelligence) /ML (Machine Learning).
    • Updating permissions automatically during company expansion during Mergers & Acquisitions (M&A).
    • Automating workers’ lifecycle management.
    • Speed decision making.
    • Offering support for migrations from legacy systems to more modern IAM tools.
    • Ensuring compliance with all the regulatory laws is done automatically.
    • Providing a 360-degree view to the auditors for the purpose of running banking audits

At InfoGravity, we take pride in serving some of the top state & federal government-owned banks & financial institutions. When customers choose us as their preferred cybersecurity solution provider they can be assured of enterprise-grade security and reduced IT costs via our automated, intelligent, robust Identity Security solution.