Okta is making inroads in the financial services sector after providing digital transformation solutions for a trio of banks. Canadian Western Bank, First National of Nebraska, and Nota are the three financial institutions now taking greater advantage of the company’s services.
In that regard, Canadian Western Bank and First National are building on their existing relationships with Okta. Both banks had previously used the Okta Identity Cloud to secure their internal operations, leveraging products like Okta Lifecycle Management, Single Sign-on, and Multi Factor Authentication to improve identity and access workflows for their employees.
Now the two financial institutions are looking to bring the same utility to their customer-facing applications. Canadian Western and First National will use the Identity Cloud to improve the digital experience, and make it easier (and safer) for people to view their financial information online. Both companies will also implement other Okta products in the future, with Canadian Western planning to adopt the Okta Access Gateway while First National targets the Okta Advanced Server Access solution.
Nota, meanwhile, offers more specialized digital services for lawyers that need to track and manage client funds. The M&T Bank-backed institution is using the Okta Identity Cloud to enable secure logins for its clients.
“Every organization is becoming a technology company as they digitally transform to adapt to changes in consumer expectations and evolving workforce needs,” said Okta Co-Founder and CEO Todd McKinnon. “As a result, companies of all sizes and across industries — including financial services — are investing in the technologies to streamline processes, reduce costs, secure their people and information, and improve customer experiences.”
In other news, Okta announced that its customer base now includes more than 9,400 organizations as of the third quarter of 2021. The growth reflects the growing demand for remote services during the pandemic, with DXC Technology, Renault, Zoom, and the State of Iowa standing as some of the newest additions to the client roster. Okta has also opened a new office in Japan, and released a new Devices SDK to support passwordless authentication on mobile devices.
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