Guidelines for the Adoption of Artificial Intelligence in Identity and Access Management Within the Financial Services Sector

Cyber-attacks are on the rise, becoming more sophisticated as technology advances and negatively impacting people as well organisations globally. Advanced approaches to managing cyber-attacks are required to mitigate cyber-risk. One of the advanced approaches to managing cyber-attacks is the use of artificial intelligence (AI) in cybersecurity. Cybersecurity is a broad field, and this study includes identity and access management (IAM) as IAM is the entry point to IT systems. The adoption of AI in the financial services sector is slow, globally. This study develops and proposes guidelines for adopting AI in IAM within the financial services. A narrative literature review is performed, and guidelines for adopting AI in IAM are designed based on literature and frameworks available. The guidelines are composed of nine layers which include environment, organisation, technology, IAM life cycle, IAM processes, AI user requirements, AI architecture, AI implementation approach, and implementing AI. Furthermore, key stakeholders at each layer are defined in the guidelines. The guidelines will increase the possibility of successfully adopting AI in IAM leading to a better security posture in banks.