CUSTOMER CASE STUDY
Financial Services
A major financial services ASP technology firm needed a flexible, proven IAM solution to co-exist and ultimately replace its homegrown customer access system, provide a higher class of service to its strategic customers, and spur future growth.
The Industry
The traditional IAM tools available to the Fortune 1,000 are focused on the workforce, which requires significant custom in-house software development to address the unique needs when addressing the B2B and B2C or B2X challenges most distributed businesses have today. The problem, however, is that developing and maintaining a homegrown system typically costs magnitudes more than going with a proven purpose-built vendor solution.
The Company
For well over five years, this financial services technology firm had operationalized and maintained its own homegrown customer IAM system. But the cost was increasingly excessive, and it was a complex, “one-size-fits-all” role-based permission model that failed to meet the distinct needs of its strategic customers.
The Need
The company needed a commercially available, cost-effective, modern, versatile IAM solution for its workforce and customers, which include some of the biggest banks and financial institutions in the world. They wanted advanced delegation capabilities so each customer had more control of its identity and access management needs while consuming the company financial services products and finally addressing the immense B2X business challenge they were encountering.
84%
Custom IAM software and application development projects that are unsuccessful.
The Answer
By partnering with Evolved Identity and moving ahead with the IdentityRM technology, this customer realized a wide array of benefits.
Reliability… IdentityRM is deeply integrated with the Okta Identity Platform, one of the most trusted identity and access management solutions in the world.
Security… partnering with Okta provided a best-of-breed approach to security where Okta secured SSO access to the applications and IdentityRM provided the ability to efficiently control assignment of application access to their customers’ user communities.
Versatility… unlike its homegrown system, this new solution allows the company to tailor delegated access capabilities around the distinct needs of each financial institution it serves.
Profitability… with this new solution in place, the company can redirect resources previously tied to its homegrown IAM system to areas focused on business growth.
Marketability… the company is positioned for future growth and expansion with an IAM solution that sets them apart and is more attractive to banks and financial institutions.
IdentityRM is tailor-made to help overcome our customer’s challenge of managing user access to their business’ critical financial services applications.
Tony Salerno, Director of Product Management
