Cloudentity, a cloud-based provider of dynamic fine-grained authorization and governance solutions, and Okta, the leading provider of identity for the enterprises and Consumer Identity and Access Management (CIAM), are delivering on the promise of Zero Trust authorization for Open Banking services.
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Open Banking is a hot topic in development today, driven by digital transformation and the modernization of applications to manage customer access and consent, and the need to dynamically share data within the business and partner ecosystems. Open Banking enables customers, partners and employees to access applications, data and services regardless of their location, device or network. The Open Banking market is expected to grow to $43.15 billion by 2026, as it is rapidly becoming the security cornerstone for enterprises adopting cloud and building the next generation of business, partner and consumer services. Cloudentity delivers on the Open Banking promise with dynamic authorization and security and privacy guardrails that reduce development costs by up to 85%.
Powered by Cloudentity’s Dynamic Authorization, automated governance and machine learning technology, and combined with Okta’s CIAM platform, the integrated solution automates the onboarding of APIs and cloud services into Okta’s CIAM ecosystem. These APIs and services are protected with dynamic access control policies that are pre-configured to meet the needs of heavily regulated industries such as finance and healthcare.