Enhancing Security and Compliance
Backbase's Engagement Banking Platform offers Identity & Entitlements Services that are specifically designed for the banking sector. This solution enables banks to mitigate risks and fraud by securely managing digital identities and access rights of end-users across all digital banking channels. By providing a seamless user experience without compromising security, banks can safeguard customer data and meet regulatory compliance such as PSD2. The centralized solution encompasses authentication, authorization, and entitlements across the entire customer lifecycle, ensuring utmost security while offering a frictionless user experience.
Passwordless Authentication
Backbase introduces a new era of authentication by enabling password-free banking apps based on the FIDO UAF standard. This ensures a secure and compliant authentication pattern, eliminating the need for fragile authentications like OTPs and usernames. By supporting both in-band and out-of-band authentication methods, banks can deliver frictionless security to customers while adhering to SCA compliant regulations such as PSD2 RTS.
Bank-Grade Entitlements Management
Backbase's Entitlements Engine revolutionizes the way banks manage complex entitlements, access controls, and approval rules. This powerful and flexible solution allows end-users to manage their entitlements in real-time, addressing complexities such as power of attorney, parental control, joint accounts, and diverse business banking scenarios with ease. By offering fine-grained access control and audit trails, banks can ensure complete traceability and compliance with industry standards.
Unified Identity Management
Backbase's platform provides comprehensive identity management capabilities, covering the entire user lifecycle from onboarding to daily transactions. Through features like Strong Customer Authentication, Transaction Signing, and role-based access control, banks can ensure appropriate user privileges while deactivating dormant accounts. The platform also supports self-service options for users, empowering them to manage entitlements, devices, and passwords/PINs.
Pre-Integrated Security Building Blocks
In addition to its core capabilities, Backbase offers pre-built journeys on web and mobile platforms to accelerate product releases. By adopting pre-existing solutions for authentication, transaction signing, and device management, banks can launch faster while maintaining security standards. Developers can leverage Web/Mobile SDKs to customize solutions and enhance the overall user experience.
Simplified Self-Service
Backbase's Identity & Entitlements Services aim to improve customer experiences and drive cost savings by empowering users to self-serve various functions. From managing entitlements to enrolling devices and resetting passwords, customers can perform these operations independently, reducing reliance on helpdesk support and enhancing overall customer satisfaction.