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Financial Services

Always an early adopter of innovative technologies, the Financial Services sector is a hotbed of activity. Many organizations are realizing that Liberty-based solutions help them meet regulatory compliance demands. The security and privacy benefits of the open Liberty standards are also key drivers in organizations’ interest in the proven Liberty standards. Given member strength and involvement in this sector, there are many additional resources available beyond the information on specific implementations.

In the chart below, please note that "Liberty Federation" is used to indicate any of the standards in the Liberty Federation family of specs (ID-FF 1.x, 2.0 and SAML 2.0).

Liberty Financial Services Resources:

Liberty Alliance Whitepaper: Identity Theft Primer

Glossary for the ID Theft Primer

Liberty Deployment Guidelines: 401K

Organization Description Technology Reach
ABN AMRO CashPro Web is a Web-based single point of access to critical treasury management functions for various client organizations. Utilize standard-based protocols such as SAML for Single Sign On (SSO) and SPML for user provisioning
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American Express Both SSO Intranet (aexp.com) and Internet (American express.com) are Liberty-enabled. Productionalized federations with AEFA. Partner federations with several organizations are underway. Liberty Federation and Liberty Web Services
Austrian Citizen Card MAESTRO enables online banking with the Citizen card (see e-govt) Migrating to Liberty Federation 8 million
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Automobile Financier Web-based application Liberty Federation
Banco Central del Ecuador Layered security including PKI, strong authentication, and SSO Supports SAML 2.0
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Bankinter, SA (Spain) Bankinter has added eBIZ.mobility’s OneTouch Online Purchasing system to its online payment processing offerings---enabling the bank to offer secure and easy multi-device payment options for music downloads and other content. Liberty Federation
Complinet Complinet provides dynamic, connected risk and compliance solutions. Supports SAML 2.0 via PingFederate
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EBiz Mobility Federated payments via mobile devices Liberty Federation
Resources:
•  eBIZ_casestudyFINAL.pdf 719.46 kB
Fidelity Investments Fidelity Investments has created a 401K application utilizing Liberty standards Additionally, they have created a Social Security Administration (SSA) portal, allowing direct deposit into Fidelity accounts. Liberty Federation 1 million
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Fidelity National Financial Offers products and outsourced services and solutions based on Liberty standards to financial institutions and the real estate industry POC with Liberty Federation; moving to Liberty SSO profiles as well as B2B SSO and Web services
Financial Engines, a portfolio manager and investment advisor managing more than $7 billion Financial Engines is in the midst of extending federated identity management to dozens of investment and financial firms with whom they do business Solutions are deployed on a client-by-client basis using proprietary solutions, Liberty Federation and HP OpenView
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Financial Services Organization SSO, identity federation and management of security policies within the enterprise. The goal was to align various lines of business (LOB) with an enterprise-wide user provisioning and policy control system. The strategy was developed by AvenueA | Razorfish. The core of the identity provisioning solution was based on SAML with support for SAML 1.0 and 2.0.
Insurance Company Integration with retailer to streamline processes. Liberty Federation
International Banks Internet banking applications using federation and strong authentication. Liberty Federation
Kantega Working with bank and insurance company to facilitate credit applications for electronic appliances on the Net, acting as IDP. Liberty Federation
Mercer Consulting The Mercer-hosted portal enables the client's employees to perform a single sign-on (SSO) and securely access their accounts at up to 10 benefit provider websites. Liberty Federation
Milliman Benefits Resource Center Milliman provides outsourced retirement plan administration. They are using federated identity to seamlessly offer services indirectly through new distribution partners and their individual brands. Liberty Federation and RSA Federated Identity Manager JP Morgan and another top ten banking institution are the first to deploy the solution. Within one year, Milliman projects that 600,000 people will access their retirement accounts via federated identity.
Modirum Modirum MDpay has extended its product offering to support SAML 2.0 Liberty Federation
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•  Modirum >
NACHA’s Council for Electronic Billing and Payment NACHA has developed EBIDS, a bill delivery and payment via the ACH to connect billers, financial institutions and consumers. EBIDS proposes a business model for banks to be compensated for enrolling consumers and presenting consumers’ bills, and provides a least cost routing option for payment. SAML 2.0
Resources:
•  NACHA  >
•  EBIDS3.08.pdf 538.74 kB
National City National City Corporation, one of the United States' largest financial holding companies, leverages SiteMinder as its enterprise-scale customer facing Web SSO & access management service handling over 2 MM customers and supporting approximately 650K logins a day. Intended use is for customer/broker Internet facing e-commerce security and Sign Sign On CA SiteMinder and SAML 2.0. Approximately 650K customer logins/day
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Nationwide Insurance Federated identity management with field agents. Supports SAML 2.0.
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Northern Trust Allows interoperability with partner SAML applications Supports Liberty/SAML
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PayGate PayGate is a Korean financial services processor using SAML 2.O for SSO
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•  PayGate >
Securian Implemented SAML 2.0 for work with Third Party Administrators (TPAs) for its group insurance line of business. SAML 2.0
UNC Research project for Financial Services Organizations Liberty Federation
University Bank Midwest Loan Services subsidiary is in the process of converting an existing single sign-on application to Liberty Alliance specs. Liberty Federation SSO will “touch” several thousand retail customers.
Washington Mutual Federated SSO to promoted access to multiple outsourced applications, intranet portal integrates 14 outsourced applications to date, enables HR self service Supports Liberty/SAML
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Wells Fargo Wells Fargo uses CA SiteMinder extensively for internal employees and external customers to secure hundreds of internal web applications and provide single sign on with easy administration and maintenance Using CA SiteMinder, first started with SAML 2.0 federation in 2007 and currently have 6 SAML 2.0 Post Profile Service Providers As of July 2008, 2.8+ million authentications and 12.5+ million authorizations per day
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Yodlee Mobile for Online Banking Brings online banking applications to the mobile channel. Yodlee Mobile also extends Yodlee MoneyCenter – an integrated suite of consumer banking applications – to provide mobile bill pay, and mobile funds transfer capabilities. User authentication is done via direct login or using a standards-based SAML Single Sign On (SSO) integration that builds on top of a financial institution’s existing single or multi-factor authentication infrastructure. Yodlee has an alliance with leading wireless carrier Vodafone in the U.K. and is forming similar partnerships in the U.S. and Europe.
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