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Financial Services

MyID® credential management enables large finance and banking enterprises to issue and manage secure digital identities, protecting user access to software, data, systems and buildings for cyber secure operations.

The Threat

The growing cyber threat

The finance and banking sector remains a constant target for state-sponsored and organised crime hacking. Responsible for trillions of dollars and millions of customers' sensitive information, there can be no room for cyber security compromise. MyID® hands finance and banking enterprises the control they need over the digital identities they issue to employees to safeguard data, systems, networks and buildings from unauthorised access.

81%
increase in cyberattacks within the banking sector since the beginning of the Russia-Ukraine conflict. (Security Intelligence, 2023)
$5.9 m
is lost by finance firms per data breach. (IBM Cost of a Data Breach Report, 2023)
33%
of financial attacks are caused by human error. (IBM Cost of a Data Breach Report, 2023)
How MyID Helps

MyID credential management for secure workforce identity

MyID® provides finance and banking enterprises with the software necessary to issue and manage cryptographically protected digital identities across large numbers of employees using public key infrastructure (PKI) for the most secure method of multi-factor authentication. Trusted by leading international banks and financial services enterprises, MyID reduces the threat of data breach by removing weak user credentials from the equation. With MyID, banks can issue and manage PKI certificates to smart cards, USB tokens, mobile devices and virtual smart cards, easily replace, revoke and remove employee credentials, and set and manage the policies and auditability essential for today's financial institutions.

Benefits

Why organisations choose MyID

Maximum data breach protection

Remove passwords - the primary cause of data breach - and build user access around cryptographically protected multi-factor authentication.

Simple integration

Simplify the integration of existing IT with PKI infrastructure for minimal disruption.

Easy management

Benefit from one software solution for operators to issue and manage thousands of workforce digital identities.

Proven

MyID is a CMS platform that has been in operation for many of the world's most security-conscious enterprises for more than 25 years.

Futureproof

As cybercrime, hacking, phishing and malware attacks become more advanced, futureproof processes against the growing threat with a robust digital identity system. MyID integration also means your CMS adapts as the devices and technologies your employees use change.

Cost saving

From the simplicity and ease of integration across existing infrastructure and devices, to the reduction in IT resource involvement thanks to enabling employees to self-serve, MyID CMS adds value to any finance and banking organisation's cyber security capabilities.

Common questions

Need something specific? Contact our team →

PCI-DSS v4 strengthens MFA requirements for the cardholder data environment. It explicitly excludes SMS OTP for new implementations. MyID MFA's FIDO2 and smart card methods meet PCI-DSS v4 requirements and provide the audit trail needed for Qualified Security Assessor (QSA) evidence.

Yes. MyID MFA's phishing-resistant FIDO2 authentication prevents real-time phishing attacks on banking portal logins. Combined with MyID PSM's breach detection, the combination ensures stolen credentials cannot be used AND active compromises are detected within minutes.

Industry

Secure your financial services workforce

Talk to our specialists about phishing-resistant authentication and auditable, centrally managed credentials.