The financial services industry is changing—an estimated $68 trillion in wealth transferring from baby boomers to millennials.¹ This means financial service providers will have to deliver the speed, ease-of-use, technological sophistication, and tailored services that millennials have come to expect. In fact, half of all millennials are willing to switch to a competing institution if it offers a better digital experience.² This and many other trends are driving unprecedented growth for mobile Fintech experiences in banking, digital payments, financial management and insurance.³

Google Maps Platform financial services solutions

To help you respond to customer’s changing demands, we’re launching financial services solutions that can help you improve your customer experience, security and operations. We’ve outlined the technical guidance and APIs you need to build out three financial services solutions: Enriched Transactions, Quick and Verified Sign-up, and Branch and ATM Locator Plus. We’ve also highlighted two use cases that customers are using our APIs to solve: Contextual Experiences and Fraud Detection. 

Clarify financial statements with Enriched Transactions solution

Transaction statements are often hard for customers to understand, using abbreviations like “ACMEHCORP” instead of customer-facing names like “Acme Houseware”. Our Enriched Transactions solution clarifies these transactions and makes them instantly recognizable by adding the merchant name and business category, a photo of the storefront, its location on a map, and full contact info. Making transactions easier to recognize not only boosts consumer confidence, with reported increases in NPS of 15% or higher, but decreases costly support calls by approximately 67%.⁴

In addition, you can help customers easily visualize a series of transactions by adding the merchant name to the transaction amount and date, and displaying their transactions on a Google map. This enables you to give customers insights about where and how they spend money. See the guide to implement Enriched Transactions today.

Enable faster sign-up with Quick and Verified Sign-up solution

Manually entered addresses can lead to lowered conversions, erroneous customer data, and costly delivery mistakes. Our Quick and Verified Sign-up solution makes sign-up faster, suggesting nearby addresses with just a few thumb taps—cutting sign-up time by up to 64% and increasing conversion rates by up to 15%.⁵  

The solution also provides one additional level of address verification that helps reduce the risk of fraudulent account sign-ups—and companies have decreased fraudulent account setups by approximately 30% through using geospatial data to verify customer identities.⁴  See the Quick and Verified Sign-up solution guide to get started today.

• Faster sign-ups 1An application form requires an address
• Faster sign-ups 2Autocomplete quickly suggests addresses
• Faster sign-ups 3Select the address with visual confirmation
• Faster sign-ups 4Address verification options are presented
• Faster sign-ups 5Location permission is granted by the user
• Faster sign-ups 6The address is verified

Help customers visit you with Branch and ATM Locator Plus solution

74% of customers now search for specific details prior to their visit, which makes detailed, accurate profiles for each location a must.⁵ Our Branch and ATM Locator Plus solution enhances your own websites and apps with the same information shown about your branches and ATMs on Google Maps. Include hours of operation, available services, user reviews, photos of the location, driving directions and more.

Financial services companies using geospatial data to provide additional information (e.g. opening hours, available services, etc.) on branch and ATM services have seen a 14% increase in Net Promoter Score (NPS), and a 7% decrease in customer support calls.⁴  Implement Branch and ATM Locator Plus today using the guide or build it in minutes with Quick Builder.

• ATM locator 1Customers can enable location permissions, or enter their address
• ATM locator 2Quickly enter the address with Autocomplete
• ATM locator 3Nearby location listings, ranked by distance and ETA
• ATM locator 4Map view and directions

Enable offers and rewards with Contextual Experiences                    

Real-time, geo-targeted offers can power deals, rewards, and cash-back programs—all visualized with rich Google Maps. By combining the insights of purchase histories with customer opt-in to location-based features, companies can implement the Contextual Experiences use case to enable personalized offers and rewards programs that drive engagement with brands while putting money in customers’ pockets at the same time.This is a win for banks and their customers, validated by encouraging metrics like NPS rating boosts of 8% or higher, and an increase of 8% or more time spent in-app.⁴  Learn how Current uses Google Maps Platform to create innovative customer rewards programs with location intelligence.

Detect suspicious transactions with Fraud Detection

With the Fraud Detection use case, companies can use customer opted-in mobile device location to flag suspicious activity based on geographic distance, such as an ATM withdrawal that is far from the customer’s phone. Our APIs can also help companies recognize suspicious transaction patterns such as a purchase made at a location that is physically distant from a recent transaction. 

Financial services companies that use geospatial data to verify customers’ identities have reduced fraudulent transactions by approximately 70%, and false positives in fraud detection by 45%, on average.⁴  Learn how Starling Bank uses Google Maps Platform to enable real-time notification of transactions and their locations, and enhance data-driven decision-making.

Start elevating customer experiences, reducing risk and increasing efficiency today with our financial services offerings. Visit our financial services solutions page to learn more about how to start implementing these solutions.

For more information on Google Maps Platform, visit our website.

Last week, the European Commission and U.S. Government agreed on a new E.U.-U.S. data transfer framework. Earlier today, Google shared that it welcomes these efforts by the U.S. government to enhance privacy protections for E.U. data and facilitate trusted transatlantic data flows. For our Google Cloud customers, we intend to make the protections offered by this new framework available once it is implemented.

Last year, we reaffirmed our commitment to E.U. businesses after the European Data Protection Board (EDPB) issued its Recommendations on Supplementary Measures, following Europe’s top court ruling invalidating the E.U.-U.S. Privacy Shield Framework and upholding the E.U. Standard Contractual Clauses (SCCs).

Since then, we’ve continued to help our customers meet stringent data protection requirements by offering industry-leading technical controls, contractual commitments, and risk assessment resources. We’ve also continued our advocacy to create more legal certainty around transatlantic data flows.

Today, we would like to provide an update to our customers on this work.

A customer-controlled cloud

Google Cloud1 continues to be a leading provider of technical and security controls to help meet customers’ data protection requirements, as well as their increasing data sovereignty expectations.

We are committed to building our Cloud on Europe’s terms, including by offering customer-managed encryption and data localization for a growing list of key products and collaborating with local partners to provide the highest levels of sovereignty, all while enabling the next wave of growth and transformation for Europe’s businesses and organizations.

Google Cloud Platform

We recently announced the general availability of Assured Workloads for the E.U. This product helps Google Cloud Platform (GCP) customers protect their data by allowing them to:

• Store their data in their choice of E.U. Google Cloud region(s)
• Ensure that only E.U. persons – located in the E.U. – have access to the data and provide customer support
• Deploy cryptographic control for data access, including customer-managed encryption keys

Cloud External Key Manager (EKM) enables customers to encrypt data in a variety of services with keys that are stored and managed in a third-party key management system deployed outside of Google’s infrastructure. Google Cloud continues to be the only cloud provider to enable customers to store and manage encryption keys for cloud-resident data outside the provider’s infrastructure with customer’s control over decryption based on specific justifications, including government access requests.

Key Access Justifications greatly advances the control that GCP customers have over their data by giving customers a justification every time their externally hosted keys have to be used to decrypt data. Signed Access Approval (SAA) adds a layer of extra assurance that requires explicit customer consent for any administrative access to customer data or configurations.

Google Cloud’s Confidential Computing portfolio is a breakthrough technology that allows customers to encrypt their most sensitive data in the cloud while in-use. Ubiquitous Data Encryption further extends data protection by providing cryptographic protection for this data at-rest, in-transit, and in-use. The keys used to encrypt customer data outside of GCP using Cloud EKM are securely shared with applications operating within Confidential environments.

Google Workspace

Our Google Workspace (including Workspace for Education) customers can choose to store their covered data in Europe. Additionally, with Client-Side Encryption, we offer customers direct control of encryption keys and the identity service they choose to access those keys. With Client-Side Encryption, customer data is indecipherable to Google, while users can continue to take advantage of Google’s native web-based collaboration, access content on mobile devices, and share encrypted files externally. Client-Side Encryption is currently available in Public Beta for Google Drive, Docs, Sheets, and Slides, and we plan to extend it to Gmail, Calendar and Meet. Additionally, customers can also benefit by choosing third party solutions that offer similar encryption capabilities with select Google Workspace services.

Legal Basis for International Data Transfers

We updated our data processing terms for GCP and Google Workspace and Cloud Identity to reflect various modules of the new E.U. Standard Contractual Clauses (SCCs) approved by the European Commission on June 4, 2021, as well as separate U.K. SCCs.

Google Cloud plans to adopt the new E.U.-U.S. data transfer framework and offer it as a transfer solution to our cloud customers, as further detailed in our data processing terms.

Advocacy and Additional Helpful Resources

We have adopted the Trusted Cloud Principles with industry peers to demonstrate our commitments to protect the rights of our Google Cloud customers. We will continue to support the ongoing work of the Organisation for Economic Co-operation and Development on government access to data and the negotiation of CLOUD Act Agreements — including between the U.S. and E.U. — as vehicles for surveillance reform.

We will continue to publish additional materials on our Cloud Privacy Resource Center, such as our whitepaper on safeguards for international data transfers with Google Cloud.

Millions of organizations with users in Europe rely on our cloud services to run their businesses every day, and we remain steadfastly committed to helping them meet their regulatory requirements by maintaining a diverse set of compliance tools.

At Google Cloud, we’re focused on giving customers new ways to strengthen their security posture. Managing identities and authorization is a core security control that underpins interactions inside and collaboration outside the organization. To address fraud, identity theft, and other security challenges associated with the proliferation of online accounts, many organizations have opted to use centralized identity provider (IdP) products that can help secure and manage identities for their users and SaaS applications, and we want to strengthen support for these solutions and the use cases they support.

Today we’re pleased to announce Workforce Identity Federation in Preview. This new Google Cloud Identity and Access Management (IAM) feature can rapidly onboard workforce user identities from external IdPs and provide direct secure access to Google Cloud services and resources. Workforce Identity Federation uses a federation approach instead of Directory Synchronization, the method currently used by most organizations for onboarding Google Cloud identities. Workforce Identity Federation provides flexibility to support third-party collaboration use cases and business requirements that can be better addressed by using a localized, customer-managed IdP.

Federating existing identities eliminates the need to maintain separate identities across multiple platforms. This means that organizations using Workforce Identity Federation no longer need to synchronize workforce user identities from their existing identity management solutions to Google Cloud. IdPs can include Identity-as-a-Service (IDaaS) and directory products such as those from ForgeRock, Microsoft, Okta, JumpCloud, or Ping Identity.

Workforce Identity Federation is another example of how we are working to make Google Cloud’s Invisible Security vision a reality, in this case delivering secure access leveraging customers’ current identity and access management solutions without the need for redundant user administration

VMware is one of our customers using Workforce Identity Federation in Preview. Thiru Bhat, director at VMware, explained why he’s excited for the new feature.

“VMware runs its own IdP and we needed a solution to allow our developers to access their Google Cloud projects while maintaining corporate control over identities and permissions. Syncing of user identities outside of our IdP is not permitted per our InfoSec policies and we deployed Google Cloud’s Workforce Identity Federation to fulfill our identity requirements. Workforce Identity Federation feature meets our needs with a solution that is robust and straightforward to configure.”

Here’s a closer look at a few use cases and the benefits from the new Workforce Identity Federation.

Use case: Employee sign-in and authorization

Streamlined authentication experience with fine-grained access control

Workforce Identity Federation can enable your organization’s users to access Google Cloud through the same login experience they already use for their existing IdP for single sign-on. Workforce Identity Federation also can enable fine-grained access through attribute mapping and attribute conditions. Attributes — which some IdPs call claims — contain additional information about users.

Google Cloud can use these attributes to further inform authentication decisions. Attribute mapping lets your administrators map identity attributes that are defined in your IdP to those that Google Cloud can use. Your administrators can configure Google Cloud with attribute conditions to authenticate conditionally — to let only a subset of external identities authenticate to your Google Cloud project based on attributes.

For example, your administrators might want to let only those employees who are part of the accounting team sign in. To do this, your administrators can configure an IdP attribute, such as EmployeeJobFamily. Using attribute mapping, they could map this attribute to a similar attribute in Google Cloud, such as employee_job_family. Then, they could configure an attribute condition, assertion.employee_job_family=="accounting".

Use case: Secure access for partners and vendors

Restricted and secure access to Google Cloud services from a partner or vendor that has their own IdP and associated privacy and data policies

Today, the modern enterprise depends on partners and vendors more than ever. Partners and vendors can help scale enterprise workflows, but they also can introduce new complexities for IT teams, such as how to secure partner or vendor identities in addition to the rest of their enterprise users.

Workforce Identity Federation can enable enterprises to selectively federate users from partner or vendor IdPs without requiring enterprise IT teams to sync or create a separate identity store to use Google Cloud resources.

One common scenario where Workforce Identity Federation can help is when a company hires a partner or vendor to provide outsourced development services using cloud resources (such as when Google Kubernetes Engine (GKE) DevOps services are outsourced to a partner.) The company creates a separate workforce pool for the partner or vendor’s administrator, who can then use their own IdP to grant access to their workforce.

This use case can also help support organizations who have requirements to store and maintain identity information locally in support of data residency or digital sovereignty initiatives. By using a local IdP, either customer-managed or partner-managed, and federating identities to Google Cloud, organizations can further strengthen control over their identity information.

Seamless experience for users, easy access management for administrators

Before Workforce Identity Federation, organizations would need to duplicate user identities from their IdP by creating user accounts in Google Cloud Identity. Workforce Identity Federation can help you access Google Cloud without having to first create Cloud Identity user accounts. It also reduces toil by eliminating the need to maintain two separate identity management systems.

Identity providers such as ForgeRock see tremendous value in the Workforce Identity Federation, and how Google Cloud can work with them to jointly help customers manage workforce identities. Peter Barker, ForgeRock’s Chief Product Officer, said that his company’s partnership with Google Cloud makes identity management easy and secure for administrators and users alike.

“Our strategic partnership with Google Cloud delivers great value to our customers and we’re excited to continue to expand our relationship. This integration with Google Cloud Workforce Identity Federation enables ForgeRock customers to leverage their current IAM investments and makes it easier for employees, contractors, and partners to securely access Google Cloud resources.”

Getting started with Workforce Identity Federation

Workforce Identity Federation is now available in Preview to customers already using Google Cloud. You can learn more about Workforce Identity Federation by visiting our webpage and watching this video.

Please contact your account manager to see if workforce identity federation is the right fit for your organization. And, you can get started with these new capabilities today using our product documentation.

As sophisticated cyberattack campaigns increasingly target the U.S. public and private sectors during the COVID era, the White House and federal agencies have taken steps to protect critical infrastructure and remote-work infrastructure. These include Executive Order 14028 and the Office of Management and Budget’s Memorandum M-21-31, which recommend adopting Zero Trust policies, and span software supply chain security, cybersecurity threat management, and strengthening cyberattack detection and response.

However, implementation can be a challenge for many agencies due to cost, scalability, engineering, and a lack of resources. Meeting the requirements of the EO and OMB guidance may require technology modernization and transformational changes around workforce and business processes.

Today we are announcing Autonomic Security Operations (ASO) for the U.S. public sector, a solution framework to modernize cybersecurity analytics and threat management that’s aligned with the objectives of EO 14028 and OMB M-21-31. Powered by Google’s Chronicle and Siemplify, ASO helps agencies to comprehensively manage cybersecurity telemetry across an organization, meet the Event Logging Tier requirements of the White House guidance, and transform the scale and speed of threat detection and response. ASO can support government agencies in achieving continuous detection and continuous response so that security teams can increase their productivity, reduce detection and response time, and keep pace with – or ideally, stay ahead of – attackers.

While the focus of OMB M-21-31 is on the implementation of technical capabilities, transforming security operations will require more than just technology. Transforming processes and people in the security organization is also important for long-term success. ASO provides a more comprehensive lens through which to view the OMB event logging capability tiers, which can help drive a parallel transformation of security-operations processes and personnel.

Modern Cybersecurity Threat Detection and Response

Google provides powerful technical capabilities to help your organization achieve the requirements of M-21-31 and EO 14028:

Security Information & Event Management (SIEM) – Chronicle provides high-speed petabyte-scale analysis, and is capable of consuming log types outlined in the Event Logging (EL) tiers in a highly cost-effective manner.

Security Orchestration, Analytics, and Response (SOAR) – Siemplify offers dozens of out-of-box playbooks to deliver agile cybersecurity response and drive mission impact, including instances of automating 98% of Tier-1 alerts and driving an 80% reduction in caseload.

User and Entity Behavior Analytics (UEBA) – For agencies that want to develop their own behavioral analytics, agencies can use BigQuery, Google’s petabyte scale data lake, to store, manage, and analyze diverse data types from many sources. Telemetry can be exported out of Chronicle, and custom data pipelines can be built to import other relevant data from disparate tools and systems, such as IT Ops, HR and personnel data, and physical security data. From there, users can leverage BQML to readily generate machine learning models without needing to move the data out of BigQuery. For Google Cloud workloads, our Security Command Center Premium product offers native, turnkey UEBA across GCP workloads.

Endpoint Detection and Response (EDR) – For most agencies, EDR is a heavily adopted technology that has broad applicability in Security Operations. We offer integrations to many EDR vendors. Take a look at our broad list of Chronicle integrations here.

Threat intelligence – Our solution offers a native integration with VirusTotal, has the ability to operationalize threat intelligence feeds natively in Chronicle, and integrates with various TI and TIP solutions.

Community Security Analytics

To increase collaboration across public-sector and private-sector organizations, we recently launched our Community Security Analytics (CSA) repository, where we’ve partnered with the MITRE Engenuity Center for Threat-Informed Defense, CYDERES, and others to develop open-source queries and rules that support self-service security analytics for detecting common cloud-based security threats. CSA queries are mapped to the MITRE ATT&CK® framework of tactics, techniques and procedures (TTPs) to help you evaluate their applicability in your environment and include them in your threat model coverage.

“Deloitte is excited to collaborate with Google Cloud on their transformational public sector Autonomic Security Operations (ASO) solution offering. Deloitte has been recognized as Google Cloud’s Global Services Partner of the Year for four consecutive years, and also as their inaugural Public Sector Partner of the Year in 2020,” said Chris Weggeman, managing director of GPS Cyber and Strategic Risk, Google Cloud Cyber Alliance Leader, Deloitte & Touche LLP. “Our deep bench of more than 1,000 Google Cloud certifications, capabilities spanning the Google Cloud security portfolio, and decades of delivery experience in the government and public sector makes us well-positioned to help our clients undertake critical Security Operations Center transformation efforts with Google Cloud ASO.”

Cost-effective for government agencies

To help Federal Agencies meet the requirements of M-21-31 and the broader EO, Google’s ASO solutions can drive efficiencies and help manage the overall costs of the transformation. ASO can make petabyte-scale data ingestion and management more viable and cost-effective. This is critical at a time when M-21-31 is requiring many agencies to ingest and manage dramatically higher volumes of data that had not been previously budgeted for.

Partners

We’re investing in key partners who can help support U.S. government agencies on this journey. Deloitte and CYDERES both have deep expertise to help transform agencies’ Security Operations capabilities, and we continue to expand our partners to support the needs of our clients. A prototypical journey can be seen below.

“Cyderes shares Google Cloud’s mission to transform security operations, and we are honored to deliver the Autonomic Security Operations solution to the U.S. public sector. As the number one MSSP in the world (according to Cyber Defense Magazine’s 2021 Top MSSPs List) with decades of advisory and technology experience detecting and responding to the world’s biggest cybersecurity threats, Cyderes is uniquely positioned to equip federal agencies and departments to go far beyond the requirements of the executive order to transform their security programs entirely via Google’s unique ASO approach,” said Robert Herjavec, CEO of CYDERES. “As an original launch partner of Google Cloud’s Chronicle, our deep expertise will propel our joint offering to modernize security operations in the public sector, all with significant cost efficiency compared to competing solutions.” said Eric Foster, President of CYDERES.

Embracing ASO

Autonomic Security Operations can help U.S. government agencies advance their event logging capabilities in alignment with OMB maturity tiers. More broadly, ASO can help the U.S. government undertake a larger transformation of technology, process, and people, toward a model of continuous threat detection and response. As such, we believe that ASO can help address a number of challenges presently facing cybersecurity teams, from the global shortage of skilled workers, to the overproliferation of security tools, to poor cybersecurity situational awareness and analyst burnout caused by an increase of data without sufficient context or tools to automate and scale detection and response.

We believe that by embracing ASO, agencies can help agencies achieve:

10x technology, through the use of cloud-native tools that help agencies meet event logging requirements in the near term, while powering a longer-term transformation in threat management;

10x process, by redesigning workflows and using automation to achieve Continuous Detection and Continuous Response in security operations;

10x people, by transforming the productivity and effectiveness of security teams and expanding their diversity; and

10x influence across the enterprise through a more collaborative and data-driven approach to solving security problems between security teams and non-security stakeholders.

To learn more about Google’s Autonomic Security Operations solution for the U.S. public sector, please read our whitepaper. More broadly, Google Cloud continues to provide leadership and support for a wide range of critical public-sector initiatives, including our work with the MITRE Engenuity Center for Threat-Informed Defense, the membership of Google executives on the President’s Council of Advisors on Science and Technology and the newly established Cyber Safety Review Board; Google’s White House commitment to invest $10 billion in Zero Trust and software supply chain security, and Google Cloud’s introduction of a framework for software supply chain integrity. We look forward to working with the U.S. government to make the nation more secure.

Visit our Google Cloud for U.S. federal cybersecurity webpage.

Related posts:

Autonomic Security Operations for the U.S. Public Sector Whitepaper

“Achieving Autonomic Security Operations: Reducing toil”

“Achieving Autonomic Security Operations: Automation as a Force Multiplier”

“Advancing Autonomic Security Operations: New resources for your modernization journey”

At AirAsia, we operate a fleet of more than 270 aircraft across 23 markets, fly to more than 150 destinations and carry 100m guests each year. We’ve also been named the world’s best low-cost carrier for 11 years running. To accomplish all of this, we rely heavily on our 22,000 Allstars (employees). As AirAsia co-founder Tony Fernandes likes to say, “it has always been about the people.” 

In my role as CIO, it’s critical that I give our Allstars the tools and technology they need to get their jobs done, while at the same time ensuring that our company’s data is protected and secure. While this is challenging enough in normal circumstances, we’re also in the midst of rapidly moving from legacy on-premises technologies to the cloud. Google Cloud has been a critical partner for us on this journey.

Identity challenges
AirAsia, like many other enterprises, has relied on a legacy on-premises directory for many years. As our company has quickly grown and expanded to new markets and regions, we’ve had to manage multiple servers across a number of on-premises data centers and the public cloud, which has proved costly and time-consuming.

Our Allstars, located all across Asia, need to easily access a number of legacy on-premises apps in addition to a growing number of SaaS apps. As a business, we also needed a more seamless integration between our HR system of record and our identity solution for user provisioning and lifecycle management. Solving these challenges with our existing on-premises directory was simply not feasible for us.

In recent years, we partnered with Google Cloud to help drive our digital transformation, including moving dozens of workloads and apps to Google Cloud Platform (GCP), deploying G Suite as our collaboration and productivity solution for all of our employees, and replacing thousands of Windows laptops with fast and secure Chromebooks.

We brought up our identity concerns with the Google Cloud team, and after a number of conversations, we decided to deploy Cloud Identity, Google’s cloud-based identity, and access management solution, to help address the identity challenges we were facing. 

Why Cloud Identity for AirAsia?
We ended up choosing Cloud Identity for a few key reasons. Here at AirAsia, we are eager to move to the cloud as quickly as possible, and moving identity management to the cloud is a key enabler of this and our broader digital transformation. Managing identities from the cloud also enables us to have a single identity and set of credentials for each employee, which they can use to access all of the applications they need to be productive, both in the cloud and on-premises. 

In addition, deploying Cloud Identity is a key step towards enabling the BeyondCorp (or zero trust) security model, which we feel is the best approach to strengthen our security posture and fight modern threats. Cloud Identity also integrates seamlessly with our existing technologies, which includes not only Google Cloud products like GCP, G Suite, and Chrome OS, but also third-party tools like Citrix, Papercut, and others.

And finally, Cloud Identity offered us significant cost and resource savings. With Cloud Identity in place, our IT department can spend less time worrying about managing multiple on-premises directory servers and can instead focus on delivering value to our Allstar employees.