retail banking principle

Exceptional user experience is a must-have in today’s digital world. It’s not only a competitive differentiator that helps you retain but also acquire new customers. At the same time, financial institutions are high-targets for criminals, who now focus on the digital battlefield. They are exploiting all available digital channels to breach your systems or lure your customers to perform fraudulent transactions.

It is clear that Digital Transformation is now key to competitiveness and brand leadership, while new regulations such as PSD2 can be considered a constraint and threat to your business model.

Maintaining the balance between these 4 pillars has now become a priority for every retail bank.

What does TrustBuilder offer to
Retail Banking?

TrustBuilder provides a Customer Identity and Access Management (CIAM) platform that enables retail banks to meet strict internal security policies and security-related regulations, alongside accelerating digital transformation by providing a seamless, consistent and personalized experience to your customers.

1 | Enhance Customer Experience

Customers and prospects are now expecting a seamless online experience, inspired by the one they get from their preferred retailers and digital providers.
Across the whole financial industry, there are no doubts that those who can provide seamless, personalized experiences will win on the long run. To attract and gain trust with new prospects and preserve the loyalty of existing customers, Identity Hub gives you a competitive edge by:

  • Simplifying the digital onboarding experience
  • Providing a single view of identity and attributes, across multiple back-end applications
    and across various channels
  • Triggering intrusive authentication only when the context mandates it
  • Supporting uniformed browser and mobile access

2 | Secure Business Transactions

Identity Hub has been helping retail banks and other financial institutions to secure their business since the early age of Internet Banking.
To help security and fraud departments secure customer transactions, Identity Hub simplifies the application of best practices by:

  • Providing a single point of security policy enforcement across channels and applications, based on dynamic, context-aware, attribute-based access control.
  • Integrating latest multi-factor authentication technologies available on the market
  • Supporting in a consistent way browser and mobile/API security policies
  • Integrating with best-of-breed fraud-detection engines/solutions for real-time access control decisions.

3 | Comply with Regulations

National and European Regulations governing your business address security and privacy matters, with varying degrees of prescriptiveness.
Identity Hub has been proven as an enabler to meet regulations like PSD2, GDPR and KYC, by enabling you to:

  • Perform customer identification and enforce the required level of
  • Enforce access control to your retail banking applications and services
  • Manage user consent and personal data, while complying with privacy

4 | Accelerate Digital Transformation

As traditional banking organizations tend to be siloed, they also often rely heavily on existing legacy systems. Silos, in turn, make it difficult to work with IT in order to implement the right technology quickly.
Identity Hub is an accelerator to any Digital Transformation initiatives; it has been designed from the ground up to easily interconnect the digital identity silos, and has proven to support fast delivery of benefits to innovation projects in the digital field. TrustBuilder Identity Hub allows the trail of new digital programmes to be deployed quickly by:

  • Integration with legacy systems and existing user repositories
  • Allowing to prototype user management and authentication functions easily
  • Re-use existing user onboarding and authentication processes

Contact us to know more how Identity Hub can support your
business imperatives.