Abacus Group, a leading provider of hosted IT solutions for alternative investment firms, today announced the launch of AbacusID, a new Identity-as-a-Service (IDaaS) feature that provides clients with single sign-on to third-party applications.
The secure and flexible identity management solution simplifies and improves control over employees’ access to a variety of web-based applications, ranging from administrative tools such as payroll and accounting systems, to business functions such as trading and research platforms.
Fully integrated with the AbacusFLEX™ IT-as-a-Service platform, the new AbacusID feature provides users the ability to log into connected applications using their Abacus credentials, meaning they just have one password to remember. Firms are ensured a single point of access for managing user authentication to federated applications, so when a user is removed from the Abacus platform their access to those applications will also automatically be removed, fulfilling data loss prevention (DLP) standards. The solution works with any web-based application that uses security assertion markup language (SAML). It also includes enforcement of two-factor authentication.
“We developed AbacusID specifically for the compliance-focused firms we cater to, giving them a convenient way to manage user access to all of their commonly used third-party applications, while also helping their users avoid having to manage multiple passwords,” said Paul Ponzeka, CTO at Abacus Group. “We know there are several password-management options on the market but, as with everything in a firm’s IT stack, they need to be managed for security and compliance purposes. AbacusID now gives our clients the ability to put identity management for all of their applications under one roof. They can use the Abacus-managed active directory already in place for their firm’s IT systems, along with user access compliance reporting via our Abacus Client Portal.”