OKTA INC (NASDAQ: OKTA), a leading independent cloud provider, responsible for the security of the Okta Identity Cloud Platform, announced the appointment of Jeff Epstein, the former CFO of Oracle to its board of directors, effective May 25, 2021. Jeff brings more than 3 decades of experience in financial leadership at public, international enterprise technology, and marketplace companies.
At last check, shares of Okta Inc. (OKTA) were down -6.91% at $229.5. OKTA stock closed last session at $246.53, increasing 0.97% or $2.38. Shares of the company fluctuated between $242.025 and $248.00 throughout the day.OKTA shares have risen by 37.40% over the last 12 months, and they have moved up by 7.93% in the past week.
Kansas Department of Laboravoids fraudulent unemployment declarations
As the COVID-19 pandemic began, the Kansas Department of Labour (KDOL) saw a swift surge in claims regarding unemployment and federal pandemic programs. The increase in filings brought in a record amount of fraud. As an attempt to secure its systems, safeguard customer data, and make sure that the Kansans obtain their unemployment benefits on time, KDOL realized it needed to replace its orthodox systems to provide the latest solution.
KDOL released Okta’s Customer Identity products and used Okta ThreatInsight to halt bot attacks and avoid fraudsters to enter the system with geo-fencing and ID proofing. With the Okta Identity Cloud, KDOL has terminated more than 7.68 million bots and fraudulent login attempts.
As people started to work remotely due to the pandemic, the State of Iowa had to rapidly replace its old systems with high security, latest identity solution in response to the COVID-19 pandemic for state agencies and their employees, exceeding 25,000. The state objectives were to find a solution that improved digital teleworking initiatives and assisted in COVID-19 response. Iowa implemented Okta as the identity standard among its agency platforms.
Furthermore, Okta’s pre-built integrations aided Iowa to move faster in its starting deployment to 36 state agencies. At the completion of the project, all branches of the Iowa government will be leveraging Okta. With Okta, Iowa is now able to provide state employees effective and safer access to state systems in a teleworking atmosphere, assisting them to use their time and resources effectively, on supporting citizens in the pandemic.
Change in Board of directors failed to induce adequate investor interest for OKTA INC, with OKTA stock price plummeting at last check.