JANUA settled in 2004 in Sophia-Antipolis, south-east of France. JANUA specialises in IAM (security, access control, identity management) and Open Source integration. It offers high value-added consulting, integration, products and services with a concern for identity management and Open Source components.
With the security of enterprise and consumer identities becoming more similar, a universal identity that is interoperable across consumer and enterprise domains is something to strive for. Learn more about these different realms and how they are merging.
By transporting valuable digital assets over mobile networks in a secure and transparent framework, blockchains can speed the growth of the digital economy, deliver new services, and enhance user experiences.
OpenIG SAML code is based upon the OpenAM Fedlet code which means much of the documentation and examples found around Fedlet will work for OpenIG as a Service Provider (SP) as well. Including this very important option of encrypting assertions in the message. A popular use-case for OpenIG is to acquire credentials from OpenAM in order to provide them to …
La sécurité est plus que jamais au cœur des préoccupations des entreprises. En 2016, aucun jour ne passait sans l’annonce d’une fuite de données massive ou une menace en ligne. Il est nécessaire de revoir les approches de sécurité.
Understanding customer data in banking Vitalii Demianets Know your customer (KYC) is a key process in the banking industry, revolving around identifying and verifying the identity of clients. It’s an important issue, particularly in the European Union, where “the right to be forgotten” is a foundation of individual rights. Vitalii Demianets, Co-founder and Lead Developer at norbloc, led a recent webinar focused on how blockchain solutions can optimize the KYC process.
KYC presents complex challenges Vitalii described three key issues for banks in building their KYC programs:
Duplication of efforts. Today, people need to go through the KYC process for each one of their banks, as well as with any particular bank’s subsidiaries in most cases. Conversely, banks need to identify and verify each one of their customers, even if they’ve already been identified and verified by another financial institution. This is clearly a time-consuming, wasteful process. Limited digitization. Many banks, “even in very tech-savvy jurisdictions,” Vitalii said, “still use physical forms with the implied administrative and customer burdens.” This is another legacy of a pen-and-paper era. Spotty audit trail. “Compliance departments and regulators struggle to identify an impartial and immutable audit trail,” Vitalii said, further adding to delays and expense in a business, where today’s customers expect lightning-fast service.
In Sweden, where norbloc operates, big banks may spend US$60 million annually on KYC and related anti-money laundering (AML) each year. Manual labor costs eat up fully 80% of these costs, and paper-based, labor-intensive-driven penalties are approaching 45% of the total budget, Vitalii explained. Source: Goldman Sachs, Accenture, Celent, Thomson Reuters So, blockchain can reduce these costs dramatically, while eliminating the need for third-party intermediaries, and speed things up immensely along the way.
How blockchain can help
norbloc has worked to develop an “intuitive, multi-platform interface with electronic ID login and APIs to public sources to create a fully digital [customer] onboarding process,” he said. Furthermore, an “encrypted database secured by blockchain technology for 100% availability and irrefutable records of transactions enables real-time reviewing by compliance departments,” he noted. The blockchain technology “allows for the secure transfer of a KYC verification stamp of one entity to another, as it is unparalleled in distributed version control of ledger contents,” Vitalii explained to webinar attendees. “It offers a highly detailed and immutable audit trail on all actions on KYC files.” Vitalii noted that his company’s efforts are not focused solely on large, traditional institutions, but also on millions of smaller fintech companies looking to procure a compliant record. In this respect, KYC can change from an expense to a revenue source. According to Vitalii, fintech companies would be very happy to pay a small fee to obtain a compliant record. “The banks would never sell the data itself, as a customer explicitly gives actual data to an institution, but would sell the digital signatures and therefore stamp of approval. Fintechs will know that (any consequent) customer data is valid and correct.” —Vitalii Demianets, norbloc
APIs, real-time monitoring, and compliance Some key aspects of creating a successful solution for these banks (as well as those in other countries) include:
There are several ways to change the amadmin password in OpenAM, including using the console and using the ampassword tool, which comes with the OpenAM command line tools. This is just a quick post to say I have made a tool which generates the amadmin password hash without the need to have OpenAM or the ssoadm tools in place. You …
Over the past few weeks, we have introduced new features in Azure AD B2C, a cloud identity service for app developers. Azure AD B2C handles all your app’s identity management needs, including sign-up,…
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