Cloudentity, a leading provider of modern application identity and authorization, today announced that it has joined the Google Cloud Partner Advantage program as a technology partner to Apigee, Google Cloud’s API Management platform, providing Google Cloud customers with a simple, unified solution to address emerging Open Banking requirements for more rapid adoption and integration.
Apigee enables developers to design, secure, analyze, and scale application programming interfaces (APIs) anywhere with visibility and control. This technology partnership combines Apigee’s secure API management with Cloudentity’s end-to-end approach for authorization and consent management (including regional regulations) into one product.
As a Google Cloud partner, Cloudentity offers customers a flexible and scalable solution for modern application authorization, consent and identity orchestration to help secure Open Banking apps and services as well as govern how data is shared to partners. Cloudentity’s automated consent controls are integrated within an enterprise’s existing hybrid, multi-cloud or microservices infrastructure. The approach ensures continuous authorization and personal data privacy for the high-value, sensitive information in the care of financial institutions.
"As a trusted technology partner in Google Cloud's Partner Advantage program, together Cloudentity and Google Cloud provide customers with a seamless solution for the rapidly-growing Open Banking & embedded finance market," said Zac Maufe, Managing Director of Global Financial Services Solutions at Google Cloud. "Financial organizations are tasked with meeting complex regulations and the safekeeping of valuable data, making it critical to have robust API management and API security capabilities to accelerate innovation, time-to-market and remain competitive.”
Regional regulatory requirements regarding proper security for financial APIs are complex and precise. Applying combined solutions from Google Cloud and Cloudentity enables customers to take advantage of the unique Open Banking profiles with Dynamic Client Registration (DCR) implementation and registry integration targeted for specific regional regulations for Open Banking in the UK, Brazil and Australia. Furthermore, DCR is critical to successfully broker and enforce trust between the Open Banking app provider and financial institutions when sharing user data back and forth through APIs.
Key features of Cloudentity’s collaboration with Google Cloud include:
Google Cloud’s Apigee provides a robust, flexible API management and API security platform enabling Open Banking providers to rapidly design, build, and operate sets of Open Banking APIs.
Through Cloudentity’s cloud-native authorization fabric, financial institutions can decouple identity and authorization, orchestrate service and app on-boarding, enable fine-grained authorization policy as code, assure privacy consent and integrate with API management products. This allows Open Banking providers to gain transaction-level enforcement at hyper-scale.
With this joint approach from Cloudentity and Google Cloud, Cloudentity’s Authorization Control Plane will automatically decode, verify the DCR request, create the client request and propagate the necessary OAuth client metadata to the integrated Apigee instance.
“This collaboration between Cloudentity and Google Cloud signals the maturation of the Open Banking market as we introduce innovative solutions to meet different regulations and empower Open Banking apps to speed up time-to-market,” said Jason Needham, CEO of Cloudentity. “Cloudentity and Google Cloud customers will be able to experience first-hand the speed, agility and added security that results from automating application identity and authentication for Open Banking.” For additional details on Cloudentity’s partnership with Google Cloud, please visit: https://cloudentity.com/2021/12/21/what-is-open-banking/ To learn more about Cloudentity’s Open Banking and Embedded Finance solutions, please visit: https://cloudentity.com/open-banking/