How bunq Uses Okta to Keep Users’ Data as Safe as Their Money
Customer Company Size
Mid-size Company
Region
- Europe
Country
- Netherlands
Product
- Okta
- BambooHR
- Okta Identity Governance
Tech Stack
- Single Sign-On (SSO)
- Multi-Factor Authentication (MFA)
- Advanced Server Access
- Lifecycle Management
- Okta Workflows
Implementation Scale
- Enterprise-wide Deployment
Impact Metrics
- Productivity Improvements
- Customer Satisfaction
- Digital Expertise
Technology Category
- Cybersecurity & Privacy - Identity & Authentication Management
- Application Infrastructure & Middleware - API Integration & Management
Applicable Industries
- Finance & Insurance
- Software
Applicable Functions
- Business Operation
- Human Resources
Services
- System Integration
- Software Design & Engineering Services
About The Customer
Founded in 2012 in the Netherlands, bunq is a digital bank that has revolutionized the banking experience by offering a versatile banking app and a service-oriented business model. The company is known for its swift account creation and user-centric approach, making it popular among digital nomads and international businesses. bunq's mission is to make banking as easy as possible for its users, empowering them to manage their finances independently. The bank has expanded its services to 30 countries across Europe, providing a banking-on-the-go solution that caters to the needs of its diverse user base. During the Covid-19 pandemic, bunq's employee count more than doubled, reflecting its rapid growth and the increasing demand for its innovative banking services.
The Challenge
bunq, a rapidly growing digital bank, faced challenges in managing identity and access management due to its expanding user base and employee count. The manual identity and access management solutions were struggling to keep up with the growth, leading to inefficiencies and potential security risks. The company needed a scalable system that could handle access and authentication for its applications while ensuring compliance with security standards. The existing process of manually creating users in the LDAP system was time-consuming and prone to errors, taking about two hours per request. Additionally, the lack of an overarching MFA setup meant that enforcing MFA had to be done on a per-app basis, which was cumbersome and inconsistent.
The Solution
To address the challenges, bunq partnered with Okta and FuseLogic to implement a comprehensive identity and access management solution. The integration of Okta with bunq's HR system, BambooHR, was completed in just two weeks, laying the foundation for automated identity processes. Okta's Lifecycle Management was deployed to automate application provisioning and deprovisioning, reducing the administrative burden on the IT team. The implementation of Single Sign-On (SSO) and Adaptive Multi-Factor Authentication (MFA) provided a consistent and secure access experience for employees. Advanced Server Access was introduced to streamline access permissions for developers, significantly reducing onboarding time. Custom workflows and alerts were created to enhance security and compliance, ensuring that any suspicious activity was promptly addressed. The automation of audit preparation work further facilitated compliance processes, allowing bunq to focus on its core mission of providing a seamless banking experience.
Operational Impact
Quantitative Benefit
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