Cloudentity brings open banking to Google Cloud

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Cloudentity, a leading modern application identity and authorization provider, today announced that it has joined the Google Cloud Partner Advantage program as a technology partner of Apigee, the Google Cloud API management, giving Google Cloud customers a simple, unified solution to address emerging issues. Open Banking requirements for faster adoption and onboarding.

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 to managing permissions and consents (including regional regulations) in a single product.

As a Google Cloud Partner, Cloudentity offers its customers a flexible and scalable solution for modern application authorization, consent, and identity orchestration to secure Open Banking applications and services and govern how data are shared with partners. Cloudentity’s automated consent checks are integrated into an enterprise’s existing hybrid, multi-cloud, or microservices infrastructure. The approach ensures continued authorization and privacy of personal data for high-value sensitive information entrusted to financial institutions.

“As a trusted technology partner in Google Cloud’s Partner Advantage program, Cloudentity and Google Cloud together provide customers with a seamless solution for the rapidly growing Open Banking and Integrated Finance market,” said Zac Maufe, Managing Director of Global Financial Services Solutions at Google. Cloud. “Finance organizations are tasked with adhering to complex regulations and retaining valuable data, making strong API management and security capabilities essential to accelerate innovation, time to market and stay competitive. .”

Regional regulatory requirements regarding appropriate security for financial APIs are complex and specific. Applying combined solutions from Google Cloud and Cloudentity enables customers to leverage unique Open Banking profiles with Dynamic Customer Registration (DCR) implementation and registry integration targeted for specific regional regulations for Open Banking in the UK, Brazil and Australia. Additionally, DCR is critical to successfully brokering and enforcing trust between application provider Open Banking and financial institutions when sharing user data back and forth via APIs.

Key features of Cloudentity’s collaboration with Google Cloud include:
• Google Cloud’s Apigee provides a robust and flexible API management and security platform that enables Open Banking vendors to quickly design, build, and operate Open Banking API sets.
• Using Cloudentity’s cloud-native authorization framework, financial institutions can decouple identity and authorization, orchestrate service and application integration, enable granular authorization policy as code, ensure privacy consent and integrate with API management products. This enables Open Banking vendors to achieve very large-scale transaction-level application.
• Using this joint Cloudentity and Google Cloud approach, Cloudentity’s authorization control plane automatically decodes, verifies the DCR request, creates the client request, and propagates the necessary OAuth client metadata to the embedded 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 enable Open Banking applications to speed 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 increased security that results from automating identity and application authentication for Open Banking.”

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