Identity and Access Management allows fine-grained control of user management processes. This is especially critical in the banking world: if access to IT is not managed in a rational way, it can be a source of major operational risks, which directly translate into financial losses.
The new Basel capital accord introduced the notion of operational risk into the evaluation of the minimum capital solvency requirements for banks. Among the risk evaluation methods proposed by the accord, the Advanced Measurement Approaches (AMA) authorize the financial establishment itself to evaluate the operational risks linked to its activity.
Basel III Compliance White Paper - The contribution of identity and access management
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