Providing Assistance with Banking Application Security

Banking Ashwin Salunke July 4, 2022

New Security Measures for Your Banking Experience

Banking applications for online transactions are widely used by businesses and individuals alike. The banking industry is expanding at an exponential rate, and the responsibilities are increasing year after year. Identity theft, hacked bank accounts, and credential misuse are major concerns for the banking industry as a whole. AuthX is dedicated to protecting you, your customers, and your partners from hackers while also providing you with the best identity solution and secure online banking authentication.

Frictionless Login Experience For All

An industry like banking will have hundreds of employees, all of whom must have their profiles and identities kept up-to-date. It is difficult for any company with a significant number of employees to provide them with access to a network that is secure and seamless. Without a proper Identity & Access Management (IAM) solution, there are a huge number of possibilities where data can be compromised.

Simplify employee identity process and device management with AuthX Identity and Access Management (IAM). AuthX Multi-factor authentication (MFA) offers you the ability to manage user credentials and secure your employees’ accounts against phishing assaults. 

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Cloud Computing Experience That is Seamless

Cloud computing is becoming a very convenient option for the banking industry. For their systems to remain secure, regardless of where they are based, they need the best cloud computing solution that supports both on-premises and cloud management. 

AuthX not only offers the industry’s best cloud computing services, but also provides identity and access management solutions, along with powerful multi-factor authentication solutions for identity and device verification. 

Partners Are Subject to a Zero-Trust Security Policy

It’s necessary to follow policies and procedures to avoid any additional risks posed by cyberattacks amended by the financial service industry’s laws. 

The combined efforts of AuthX and ZScaler (Zero trust connectivity) ensures that users feel safe knowing their networks are protected. AuthX uses a secure authentication layer to deliver seamless multi-factor authentication with ZScaler’s Zero Trust policy. AuthX SCIM allows your partners to gain user IDs more quickly, and AuthX SSO allows users to effortlessly access online applications that are vetted by respective policies and regulations. 

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Digital Banking Experience

Customers expect secure digital experiences across all banking apps, banking sites, payment wallets, etc. AuthX provides a secure channel for all payment-related apps and websites.  

Besides providing a smooth user experience, AuthX offers a seamless user interface with simplified steps to implement banking tools and its infrastructure swiftly.  

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Deliver a Seamless Login Experience

By using AuthX MFA for banking authentication, you’ll enjoy a spectacular login experience like never before. For safety and security purposes, customers will require a strong MFA solution while accessing banking applications. By using AuthX MFA solutions, you will be able to meet every requirement of your customers, as they can optimize passwordless authentication solutions and never have to remember passwords again.  

Banking apps are required to change user credentials once every 3 months. But with AuthX, enforce biometrics and access your bank account with powerful authentication factors 

Advanced Security & Fraud Alerts

Every year, cyberattacks and phishing assaults target multiple financial apps and compromise many customers’ bank accounts. To safeguard customers’ bank accounts and devices from hazardous malware and unauthorized logins, banking apps require a sophisticated security mechanism. Integrate with AuthX now to avoid these issues and develop a strong security system with all your apps that are integrated with AuthX. 

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Various Modes for Authentication

Make it easy for your customers and partners to authenticate themselves – with biometrics like facial recognition, fingerprints, mobile authentication, one-time passwords (OTPs), texts, or phone calls. 

With factors such as banking OTPs, , you can log in to your banking apps seamlessly without having to type long passwords. 

Secure Payments

You may securely transfer money or execute any other financial transaction on your mobile device using the AuthX mobile app. With factor authentication for financial services, you can confirm a user’s identity not once, but twice. Initiate payment only when the identity is verified by AuthX

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Why AuthX?

We enable you to provide secure Internet banking and Follow Follow the rules for strong client authentication, customer data storage, access security, and other considerations. Our platform is built for open standard connectors like SAML and SCIM. AuthX, with the help of Security Assertion Markup Language (SAML), provides seamless service to banking apps for users as well as data and information transfer (authentication and authorization) between identity providers (IDP) and service providers (SP). Identity providers (IP) ensure that the person is who they say they are, whereas service providers (SP) provide access to web applications. AuthX assists customers in effectively using banking apps while also protecting their data and information.