Single sign-on (SSO) is a way to connect applications so that users do not have to reauthenticate. With single sign-on, one application passes user-specific information to another, thereby reducing or eliminating the need to manually key in usernames, passwords, and other forms of identification.
Single Sign-On & Digital Banking
In the financial services industry, single sign-on is used by vendors that provide digital banking solutions and connected services. Two common SSO use cases include:
Check Ordering Services: The customer or member logs in to the digital banking platform and clicks on a prompt to order checks. Relevant user details are passed to the check ordering service, enabling the account holder to quickly order checks and have them mailed to the address of record listed in the core.
Bill Pay Providers: Allowing customers or members to pay bills online is an important digital banking feature. Third-party bill pay applications often integrate via SSO, providing a seamless experience for account holders. Unlike check ordering, users may need to register with the bill pay service prior to use. Once authenticated, SSO enables the user to continually access the bill pay portal from the digital banking application.
SSO Benefits in Digital Banking
Single sign-on offers a relatively straightforward method for connecting applications, which ultimately results in enhanced experiences for customers or members. Here are a few reasons why companies like Alogent leverage SSO when building and deploying digital banking solutions:
Enhanced user experiences: Implementing single sign-on in digital banking empowers financial institutions to deliver more value to users. Through seamless integration with third-party services, customers and members navigate effortlessly across platforms, enjoying a unified experience. Customizing the branding of these integrated services by the third party further solidifies this cohesive UX. In cases where branding isn't feasible on the third-party site, banks and credit unions can implement disclaimers to inform users about navigating away from the institution's digital banking environment. This approach prioritizes user transparency, while maximizing convenience and usability.
Streamlined implementation: Compared to other approaches, such as connecting via APIs, single sign-on usually offer a more cost-efficient means of integration.
Optimal support model: SSO enables connectivity that users want while ensuring third-party vendors still provide tier one support. For example, connecting to a bill pay provider via SSO streamlines the user journey for account holders by eliminating friction around setup of payments.
Additionally, many single sign-on solutions provide the option to open their browser directly within the online app via an Iframe or within mobile apps as an 'in-app browser'. This feature is particularly advantageous on mobile platforms as it bypasses the need for users to adjust their phone's popup settings, ensuring a smoother and more streamlined user experience. This capability enhances convenience and reduces potential friction points, further optimizing the integration of SSO into digital and mobile banking environments.
Learn about NXT, Alogent’s consumer and business digital banking platform that integrates with dozens of leading solutions.
