In the rapidly evolving financial services industry, modern identity and access management (IAM) solutions are becoming progressively more central to accelerating embedded finance, Open Banking, Open Finance, Banking as a Service (BaaS) automation, and API-first (FAPI) growth strategies. Adopting an API-first approach helps to drive flexible, scalable, and extensible digital roadmaps and hyper-personalized customer experiences, where converged IAM capabilities are more important than ever.

However, the industry continues to face increasing risks from account takeover fraud and unauthorized access, as persistent threat groups, crime syndicates, and rogue-state actors become more effective at compromising weak credentials, and exposed identities. Converged IAM solutions are critical to addressing these challenges through dynamic multifactor authentication (MFA), enhanced identity proofing and verification (KYC, AML), risk-based strong customer authentication (SCA), centralized policy-based authorization, and verified credentials. Embracing modern IAM not only enhances security but also helps financial service providers build trust with customers, achieve regulatory compliance, and protect the integrity of the wider financial services ecosystem.

This whitepaper explores how converged Ping Identity Platform can help you to:

• Accelerate Digital ROI
• Secure Customer Trust
• Extend Ecosystem Reach