Employ multi-tenant authorization server that replaces a need for a farm of regular servers. Reduce costs, make your architecture simpler, maintain customer isolation.
Create as many authorization servers as you need.
Empower users to authorize individual transactions. Add fine-grained consent enabling customers to authorize third-party access to discrete resources.
Utilize rich authorization requests to make scope of access granular.
OAuth2 and OIDC improve convenience, security, and privacy for customers accessing online financial services and applications:
- Simplified Logins: Customers can use existing social media or identity provider accounts (like Google, Facebook, etc.) to log into multiple websites and apps without creating new passwords for each one.
- Enhanced Security: OAuth2 and OIDC use tokens instead of passwords. Tokens have a limited lifespan and are specific to the app requesting access, reducing the risk of password theft and unauthorized access.
- Control Over Data: Customers can choose what information (like profile data) they share with apps while authenticating. They can revoke access if they no longer want an app to have their information.
- Consistent User Experience: With OIDC, customers get a standardized login flow across different applications.
- Regulatory Compliance: OIDC frameworks comply with privacy laws and regulations, ensuring that customer data is handled responsibly.
