Software-as-a-service (SaaS) security breaches are on the rise. Earlier this year, compromised user credentials impacted numerous companies utilising Snowflake’s cloud data platform.
The breach resulted in the leak of sensitive personal and financial information. Other data breaches that occurred this year include Microsoft, UnitedHealth, Caesars, MGM, and Clorox.
According to a report by AppOmni, 31% of organisations encountered a SaaS data breach in 2024, an increase from 26% in 2023. Notably, the majority of these attacks were identity-based.
To tackle this issue, Okta, the San Francisco-based identity and access management company, introduced a new comprehensive identity security standard during its flagship event, Oktane, held in Las Vegas.
Called the Interoperability Profile for Secure Identity in the Enterprise, or, in short, IPSIE– the vision behind this new, open standard, is to create a framework that allows SaaS companies to enhance the end-to-end security of their products. It is expected to ensure robust …