Identity Security Links Financial Data to Fintech Apps in a Seamless, Secure, and Compliant way
DENVER , July 19, 2022 /PRNewswire/ -- Ping Identity (NYSE: PING), the intelligent identity solution for the enterprise, and Montreal-based open banking platform, Flinks, have enabled millions of customers across the U.S. and Canada to link their financial accounts to fintech apps and enjoy new streamlined banking experiences in a safe and compliant way.
From user onboarding to digital loan applications and money transfers, Flinks' open banking API technology enables financial businesses to access the bank-sourced financial data they need, in just a few clicks from their customers. But to achieve this innovation in a fast-changing financial landscape, Flinks needed to focus on the core virtue of open banking: Customer consent and compliance. It required a better way to collect and enforce customers' consent for their data to be shared, and secure the data as it was being shared via secure access management.
"To be a leader in open banking, it's critical for us that customers connecting their accounts have confidence in the process and absolute clarity over what data they are sharing, to whom, and when," said Adam Gibson, General Manager, Open Banking Products, Flinks. "We needed a solid partner to offload the complexities of federating user identities and properly securing data."
PingFederate and PingDirectory were adopted as the best solutions for tackling the challenges. Ping Identity's solutions, with implementation and software hosting support from Simeio, helped ensure Flinks' open banking API technology is secure and scalable, allowing hundreds of third-party financial apps to gain instant access to user-permissioned data fast and simply. The customer experience is seamless, with Flinks handling the user authentication and access on the front end, while Ping Identity's solutions work invisibly on the back end. The partnership enabled Flinks to build and launch its new solution within six months.
"Despite all the obstacles that come with trying to manage so many digital identities, Flinks was able to get up and running in record time with its new solution," said Andre Durand, CEO and founder of Ping Identity. "Flinks is now disrupting the banking landscape in Canada and America by bringing financial innovations to businesses that can quickly realize a return on investment."
For more on how Ping Identity helps empower Fintech with seamless, secure, and compliant banking, read the full success story.
Flinks is the financial data layer powering the internet. Trusted by millions of individuals accessing financial services at world-class companies, Flinks enables businesses to connect to their customers' financial accounts, enrich this data, and utilize it to deliver better digital products. Serving innovators in lending, fintech, digital banking, asset management and insurance, Flinks is quickly becoming a global leader in financial data connectivity and analytics. To learn more, visit flinks.com.
Simeio is an award-winning global managed identity services provider of Identity and Access Management (IAM), interoperable with the security industry's leading IAM tools. With 700+ employees worldwide, Simeio secures over 160 million identities globally for large enterprises and government entities. For more information visit www.simeio.com
At Ping Identity, we believe in making digital experiences both secure and seamless for all users, without compromise. That's digital freedom. We let enterprises combine our best-in-class identity solutions with third-party services they already use to remove passwords, prevent fraud, support Zero Trust, or anything in between. This can be accomplished through a simple drag-and-drop canvas. That's why more than half of the Fortune 100 choose Ping Identity to protect digital interactions from their users while making experiences frictionless. Learn more at www.pingidentity.com.
Ping Identity Media Relations
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SOURCE Ping Identity Corp.