Identity and Access Management (IAM) refers to the technologies, policies, and processes involved in managing digital identification and user access controls within an organization. IAM includes the framework required to maintain security, the software platform(s) used to manage credentials, and the regulatory compliance governing the standards various industries must uphold.
In the world of banks and credit unions, security of digital assets is critical. The burden of achieving this typically falls to IT and compliance leaders, who shoulder the responsibility of safeguarding their institution's data without sacrificing operational efficiency. One of the key tools in achieving this balance is an Identity and Access Management (IAM) solution. This blog delves into how to leverage IAM to fortify your cybersecurity posture, while bolstering efficiency and workflows.
In today's rapidly evolving digital landscape, the need to safeguard sensitive information and control access to critical resources is more crucial than ever. Identity and Access Management (IAM) plays a pivotal role in achieving this goal, serving as the cornerstone of cybersecurity strategies for organizations, especially financial institutions. In this article, we'll delve into the intricacies of IAM, exploring its definition, components, benefits, and the role it plays in enhancing overall security. We will also explore the challenges and considerations of deploying an IAM tool, and, maybe most importantly, we’ll provide key criteria you should consider when selecting an IAM tool that is fit for your institution.
Cumberland, MD., December 12, 2023 -- Provision IAM, a technology leader in Identity Security for financial institutions, announced a funding round led by Curql, a Credit Union Service Organization driving fintech innovation for credit unions, to efficiently strengthen security of credit unions by automating access management and governance.
In this checklist, we walk you through how to best prepare your financial institution for adding an identity management solution to your tech stack.
So it's that time of year where we're already thinking about the budget for next year. Our executive director of identity services, Matt Growden, recently spoke on camera about his best practices for creating a budget based on his experiences as a former CIO of a local community bank and then as a virtual CIO for many banks.
In today's digital age, the financial industry is undergoing a profound transformation, driven by technological advancements and changing customer expectations. Banks and credit unions are no longer just brick-and-mortar institutions; they have evolved into tech-savvy entities that rely heavily on sophisticated IT infrastructure to deliver seamless services and maintain a competitive edge. To ensure success in this rapidly changing landscape, banks must allocate their IT budgets thoughtfully. In this blog post, we will explore the crucial components to include in an IT budget to navigate the evolving financial landscape.
Identity and Access Management (IAM) plays a crucial role in facilitating bank mergers and acquisitions by ensuring the secure and efficient integration of the two organizations' core systems, numerous applications, and user access. During a conversion, several challenges related to data security, compliance, and user access need to be addressed, and IAM helps in the following ways: