Okta was born in 2009 in the San Francisco Bay Area, USA, with the mission to create a system that allowed companies to provide identity. Okta Identity Cloud connects and protects the employees of many of the world’s largest companies. 

It also securely connects companies with their partners, suppliers and customers. With deep integrations into more than 5,000 applications, Okta Identity Cloud enables simple and secure access from any device, and helps customers securely manage and use their accounts and passwords.

Cyberbank integrates Okta to enhance the customer login module, adding Okta’s account and password management capabilities, so that every login process is covered and secured.

Okta’s integration with Cyberbank makes it possible to:

• Manage access to Cyberbank’s mobile and web application accounts in a secure and user-friendly environment.
• Use different types of security factors, managing passwords and codes of bank customers, safeguarding the accounts of each customer and avoiding fraud.
• Use different security points that allow users to use their applications with total freedom, avoiding possible cyber-attacks.

Key Benefits:

• Cyberbank, together with Okta, makes it possible to easily add a second factor of authentication, requiring each user to have access using strong passwords to ensure the protection of accounts against fraudulent access attempts. The system also enables multi-factor authentication to provide a higher level of security even if a user’s password has been compromised. 
• The system allows Okta’s cloud-based authentication to be configured to give users high security but with simple-to-use factors, such as biometrics and push notifications.
• The best password is no password. Cyberbank eliminates customer friction by using passwords in the customer authentication experience, using email credential links, factor sequencing or WebAuthn. Customers will be glad they don’t need to use passwords while being confident since their data is protected.

Key Features:

• The system allows IT and security administrators to dictate strong user and password authentication policies to protect customer data.
• Real-time syslog:
  • Financial institutions will be able to access a real-time syslog, so that IT administrators can troubleshoot security issues immediately. Using advanced searches to identify the time, date, time of event, location, or targets of any security incident.
• Pre-made reports:
  • The system allows generating pre-made reports and data, which can be downloaded, synchronized and accessed in a wide variety of formats.
• Centralized system of control: 
  • The system gives the IT team the possibility of  viewing, managing and securing access for all bank users.
• Okta’s single sign-on solution can be quickly connected to and synchronized from any number of identity stores, including AD, LDAP, human resources systems, and other third-party identity providers.

Okta supports:

• Regulations and Compliance:
  • CSA STAR, Federal Risk And Authorization Mgmt, State of New York Department of Financial Services Compliance, AICPA, HIPAA, U.S. Securities and Exchange Commission, PCI DSS, GDPR, and ISO 27.017.
• Okta’s cloud-based single sign-on service makes all the connections from cloud to ground with over 1,400 SAML and OpenID Connect integrations, password storage, RADIUS and LDAP support, and connections to legacy third-party SSO solutions.
• Okta is an SSO provider with a network of more than 7,000 preloaded integrations, which reduces building and maintenance times, and helps customers securely adopt and deploy SSO in cloud applications in weeks, not months.