📋 Tender Overview
Ping Identity the Intelligent Identity solution for the enterprise showcases a continued commitment to open standards through the achievement of the Financial-grade API Client Initiated Back-Channel Authentication FAPI-CIBA certification. This certification enables enterprises to improve the consumer experience during authentication and authorization for financial transactions. FAPI-CIBA is a security and interoperability standard from the OpenID Foundation for financial insurance healthcare and other industries that require stronger API security when doing business with customers. Ping Identity is one of five identity security vendors and the first enterprise-class vendor to achieve the new Open Banking certification. FAPI-CIBA is an authentication flow that improves the user experience by streamlining how users give digital consent when engaging with an enterprise. It decouples the interaction between devices people use to authenticate themselves from the device that requests access. For example when a customer makes an online purchase from a merchant the user immediately receives a push notification sent to the financial institutions native mobile app allowing the customer to avoid confusing redirects via web browsers.The new FAPI-CIBA certification means that enterprises can use Ping Identitys product suite to enable secure decoupled user authentication and payment approvals with the assurance that it meets the rigorous FAPI conformance testing requirements. In addition to improving the customer experience enterprises can leverage and stay ahead of evolving Open Banking standards. It also makes it easier for them to comply with the advanced technical standards as they are introduced. Ping Identity is committed to improving the security of financial services through Open Banking standards said Andre Durand CEO and founder Ping Identity. From mobile banking to online purchasing to the use of third-party financial data aggregators customers expect control over how and when they share their personal financial data. Ping Identitys FAPI-CIBA certified solutions give them the tools to meet those demands.
