Secure Identity Management and Authentication Tools for Financial and Banking Institutions

Secure authentiction solutions for Financial institutions

WHY?

The Federal Financial Institutions Examination Council (FFIEC) articulates authentication standards and recommendations for stronger online banking security for financial institutions. Administrative application Hideez Safe supports all applications on PC or smartphone, including VPNs, remote access gateways, on-premises and cloud-based applications and more. Hideez provides APIs to cover custom and proprietary banking and financial software and secure SSO, Single-Sign-On Solution. Increase speed of new employees’ adoption and turnaround with sensitive information and risk of data leakage.

HOW?

Protect intellectual property

Passwords remain the last mile of defense against digital identity theft. Credential stuffing, phishing, session hijacking, man-in-the-middle, and malware attacks have impact not only on company’s financial state but also bears reputational risks for financial institutions. Hideez Authentication Service addresses FFIEC guidelines with strong second factor authentication and OTP generation technology that is resilient against man-in-the-middle attacks.

Privileged Acess Management

Hideez offers either independent low-cost Identity and Access Management (IAM) solution or a supplement to existing IAM designed specifically for financial companies that automates fast and secure access to scoring applications, enterprise solutions such as Active Directory, Azure, etc. Deliver the first password, grant or seize access to critical infrastructure in a matter of seconds, define physical location, and measure employee productivity with Hideez Enterprise Server.

Testimonials

The September 2017 and the Deloitte breach, compromised client’s emails, including those of U.S. government agencies and large enterprises. That taught us a lot in terms of better protection for our consultants. With Hideez Password Manager in place, we are sure that the company takes good care of projects under NDA.

– Sam Carter

WHAT?

Hideez offers an all-in-one solution that includes secure password management, desktop MFA, passwordless authentication based on biometric logins or QR codes, and many other features. To better understand this, we’ll take a closer look at the four main components of the Hideez Authentication Service. These are:

Hideez Server

>Hideez Server is a FIDO2 / WebAuthn server & SAML 2.0 Identity Provider for managing privileged access, managing remote offices and employees, and controlling their physical access. It delivers passwordless FIDO2 authentication and two-factor authentication in an environment that features many users and workstations, meaning that you obtain strong authentication that doesn’t rely on shared secrets. For example, the Hideez Server allows IT admins to grant or restrict access to bank managers, bank officers, and other staff in a streamlined and secure manner.

Hideez Authenticator

Hideez Authenticator is a handy free mobile app available for both Android and iOS devices. Once employees set it up on their mobile devices, they can utilize the app to conveniently sign in to their accounts or generate one-time QR codes. In other words, the Hideez Authenticator essentially turns the user’s smartphone device into a personal security token. And, as it meets robust authentication standards, users don’t have to worry about any unauthorized access problems or other issues with their accounts.

Hideez-Schlüssel

When it comes to ensuring better cybersecurity in finance institutions, the Hideez Keys are an optional addition but a very valuable one. Hideez Key 3 and Hideez Key 4 are the best hardware security keys allowing secure password management, 2FA and passwordless authnetication based on FIDO standards, proximity-based authentication and physical access control all at once. They comply with the latest cybersecurity standards and support multiple protocols. With these small devices, employees can obtain added conveniences like managing their passwords, using autofill features, and generating one-time passwords. Moreover, users can also lock or unlock Windows computers using the proximity lock feature and even open RFID door locks.

Hideez Client

The last part of the Hideez Authentication Service, but an equally important one as the previous three, the Hideez Client software for Windows personal computers ensures all of the above features work without a hitch. Like the Hideez Key, this is an optional component of the Hideez Authentication Service. It provides a connection between the keys and the server and ensures secure user credential management.

KEY BENEFITS

Of course, understanding the “why, how, and what” of the topic, we should also highlight the main benefits of the Hideez Authentication Service. Here’s a quick rundown of what security advantages you can look forward to with Hideez:

Strong Protection – You can count on sound protection against different types of online attacks, including phishing, spoofing, and man-in-the-middle attacks.
Compliance – The Hideez Authentication Service is compliant with all of the latest modern security and privacy standards. This includes PCI Data Security Standards, GCSx CoCo, HIPAA, SOX, as well as NIST guidelines and FIPS 140-2.
Remote Access– With advantageous remote control access and privileged access management, leadership doesn't need to reveal credentials to bank officers and staff members anyone to let them use banking tools and platforms.
Data Encryption – All of the data is securely encrypted. This can be done either on your phone through the Hideez Authenticator or directly through a Hideez security key.
Fast and Convenient Use – The passwordless login system allows for instant access, saving users the time they would otherwise spend on typing their credentials on every occasion they want to log in. This saves a lot of time in the long run.
Electronic identity — Identity proofing is offered for organizations requiring a higher level of identity assurance.