Streamlining Security and User Experience at a Multinational Swiss Bank
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Geo-location reporting for conditional access to resources ensuring compliance.
Rainer Witzgall – Chief Revenue Officer
Anonymous
Banking
Switzerland
Challenge
The bank faced inefficient and costly authentication processes with multiple systems and passwords, leading to security vulnerabilities and high IT support costs.
Solution
Veridium implemented a seamless biometric authentication system, allowing passwordless logins via a simple QR code and biometric scan.
Result
The bank increased security, improved user experience, and reduced total cost of ownership by over 80% within one year.
We deliver full spectrum Continuous Authentication with Identity Threat Protection to prevent Account Takeovers for a Zero Trust World and digital sovereignty in Multi Cloud Environments.
Challenge
Costly, inefficient authentication with multiple systems and passwords
The multinational Swiss Bank faced a complex and inefficient authentication system involving various solutions from different vendors. These systems were costly to manage and did not eliminate the use of passwords, leaving the bank vulnerable to security breaches and insider threats. Employees had to deal with cumbersome login processes, which included managing multiple tokens and passwords, leading to millions of dollars spent on help desk calls for lost tokens, password resets, and damaged swipe cards. The bank required a solution that would eliminate passwords, provide a consistent user experience across different login methods, and enhance security and convenience.
Solution
Seamless biometric authentication with QR code and scan
Veridium implemented a solution allowing employees to log into company resources via a hot desk, laptop, or VPN using a simple process. By opening a browser and scanning a QR code, employees could authenticate using biometrics, with options for fingerprint or facial recognition. This process offered true multi-factor security in a single step. Veridium’s platform seamlessly integrated with the bank’s existing Microsoft Active Directory and Citrix Federated Authentication Services, requiring no additional hardware. This integration provided a smooth, single-step login process for all employees.
Result
80% cost reduction.
Veridium’s solution significantly increased security, productivity, and convenience for the bank. Employees could access their workstations without using passwords, enhancing their login experience and reducing the need for IT support. The bank achieved a total cost of ownership (TCO) reduction of over 80% within one year. The elimination of passwords and the streamlined authentication process also improved compliance and reduced the risk of security breaches.
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Veridium prevents Account Takeovers better than anyone else. We protect the identity supply chain with AI-powered Identity Threat Protection.
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Priority Zero is Identity and Access Management. Because, if the idenetity is gone, hackers have an easy game to penetrate. And there is our standard - worldwide - Veridium.
Dr. Ralf Schneider – Group CIO, Allianz Insurance