a good thing!
DENVER — June 2, 2021 — Ping Identity (NYSE: PING), 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 institution’s native mobile app, allowing the customer to avoid confusing redirects via web browsers.
The new FAPI-CIBA certification means that enterprises can use Ping Identity’s 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 Identity’s FAPI-CIBA certified solutions give them the tools to meet those demands.”
Learn more about how open standard protocols enable Ping Identity to provide customers with the secure and seamless online experiences they need.
About Ping Identity
Ping Identity is the Intelligent Identity solution for the enterprise. We enable companies to achieve Zero Trust identity-defined security and more personalized, streamlined user experiences. The Ping Intelligent Identity™ platform provides customers, workforce, and partners with access to cloud, mobile, SaaS and on-premises applications across the hybrid enterprise. Over 60% of the Fortune 100 choose us for our identity expertise, open standards, and partnerships with companies including Microsoft and Amazon. We provide flexible identity solutions that accelerate digital business initiatives, delight customers, and secure the enterprise through multi-factor authentication, single sign-on, access management, intelligent API security, directory, and data governance capabilities. For more information, please visit www.pingidentity.com.
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