At the latest edition of Future Identity Finance in London, we were joined by ForgeRock’s Director of Solution Marketing, Adam Preis and Major Accounts Executive, Paul O’Carroll. ForgeRock works with financial services institutions globally, to help them build seamless, secure and scalable digital experiences for customers and employees.
As financial institutions continue to pivot towards digital, there is a pressing need to deliver superior customer journeys, at great speed. Paul explains that increasingly financial institutions, “want to ingest data from external and internal sources to determine the correct level of security and friction to apply at any point in time.”
Flexibility is needed to facilitate this and allow financial institutions to integrate the latest identity solutions with ease, through a a plug-and-play approach. Such solutions are vital in the face of a continually evolving threat landscape, with financial institutions facing threats from rogue state actors and crime syndicates which become more sophisticated every day.
Adam highlights that the threat of account takeover continues to rise every year and he explains that, “one of the key underpinning issues driving account takeover is the continued use of weak credentials.” The challenge however, as Paul notes, is that while security teams are focused on tightening authentication procedures, product teams also want to drive seamless interaction with the customer.
Watch the full interview below, to hear Adam and Paul’s thoughts on how financial institutions can make these objectives work together, by using a far wider range of data sources to adapt to risk-level in real-time.
The conversation continues at the Future Identity Festival, November 13th – 14th, at The Brewery, London – registration is now open.