Strata Identity Achieves Recognition in Gartner’s Hype Cycle

Strata Identity Named in Gartner's 2024 Hype Cycle

BOULDER, Colo. — Strata Identity, a leader in Identity Orchestration, has recently been recognized as a Sample Vendor in the prestigious Gartner Hype Cycle for Banking Customer Experience. This acknowledgment highlights the company's commitment to enhancing identity management within the financial services industry and providing seamless customer experiences.

The Significance of Journey-Time Orchestration

According to Gartner, journey-time orchestration represents a transformative platform with the capabilities essential for managing an array of tools and vendor integrations throughout a digital customer's journey. This includes crucial functions such as identity verification, authentication, fraud detection, access management, and bot mitigation. By centralizing the orchestration of these processes, organizations can enhance both risk management and customer experiences across their digital landscapes.

Responsive Identity Management

Strata's Maverics Identity Orchestration™ Platform is designed to address the challenges posed by managing various vendor integrations. It offers a centralized identity layer that enables organizations to have greater control over user journeys, promoting dynamic experiences that prioritize security while ensuring user convenience. This capability is particularly beneficial in critical areas such as onboarding and identity verification, allowing financial institutions to serve their customers efficiently and securely.

Resource Efficiency through Simplification

Gartner’s insights further emphasize the burdensome nature of handling multiple vendor integrations, which can deplete an organization’s resources amidst a growing shortage of skilled talent. By leveraging an orchestration tool, organizations can significantly reduce development efforts, thereby cutting costs and minimizing the complexity of the digital journey.

Bridging Identity Environments

Strata’s Maverics platform is adept at bridging hybrid, multi-cloud, and multi-vendor identity environments. It does this by orchestrating disconnected and incompatible systems using an abstraction layer that facilitates coherent policies, APIs, and user sessions. With Maverics, companies can effortlessly integrate various identity systems, allowing for the enforcement of global policies at scale without necessitating the rewriting of applications or disrupting existing user access workflows.

A Vision for Improved Customer Experience

Commenting on this recognition, Eric Olden, CEO of Strata Identity, stated, "We believe being recognized in the Gartner Hype Cycle for Banking Customer Experience underscores the value we provide in helping financial institutions navigate the dynamic requirements of identity management in complex user flows. The Maverics platform is designed to streamline the orchestration of identity services, enabling banks to deliver secure and frictionless customer experiences while reducing operational complexity and cost."

Empowering Identity Journeys

The Maverics platform offers essential features for maintaining identity continuity, preventing application outages by switching to an alternative on-premises or cloud identity provider when necessary. By decoupling applications from identity systems, companies can implement modern authentication methods, such as passwordless strategies, while enforcing consistent access policies without the need for extensive application refactoring.

Innovative Contributions to the Industry

Strata Identity’s founders have been instrumental in creating the IDQL (Identity Query Language) standard and the Hexa open-source solution for multi-cloud policy orchestration. They also co-authored the SAML standard for single sign-on federation, marking their significant contribution to the field of identity management. With their cutting-edge technology and expertise, Strata is paving the way for organizations to manage their identity challenges more effectively.

Frequently Asked Questions

What is Strata Identity known for?

Strata Identity is known for its innovative solutions in Identity Orchestration, helping organizations manage identity challenges across various platforms.

Why is the Gartner recognition important?

The Gartner recognition signifies Strata Identity's leadership and relevance in providing effective identity management solutions within the banking sector.

What does the Maverics platform offer?

The Maverics platform provides a centralized identity orchestration layer that simplifies vendor integration, enhances security, and improves the overall customer experience.

How does Strata Identity enhance user experiences?

Strata Identity enhances user experiences by enabling seamless onboarding and identity verification processes that prioritize security while ensuring convenience.

What are the benefits of using an orchestration tool?

Using an orchestration tool reduces development complexities, cuts costs, and improves resource efficiency for organizations managing multiple vendor integrations.

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