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At present, there is banking application that needs a complete authentication and authorization for its customers. You have been hired to define the policy and

At present, there is banking application that needs a complete authentication and authorization for its customers. You have been hired to define the policy and solution based on your experience and expertise of authentication and authorization. You will propose the policies, procedures, standards, for authentication, access control, etc.
Make sure you address each of the following in your solution approach justify your answer why you chose what you chose.
1. Users are authenticated with password-based method
a. Discuss the method,
b. Discuss the policies/standards you recommend.
I believe the most important standard would be co
c. Describe the solution functionally including storage
2. Then discuss if users could be authenticated using or a second method of authentication/verification(e.g., biometrics)
a. Discuss the potential method,
The customer will be able to choose MFA authentication applications such as Okta This allows a user to use 1 mobile device to authenticate themselves after the login/password is authenticated.
b. Functionally how it could work- general description. They will be prompted to setup after their first initial login, and scan the companies
3. Discuss how authorization will work. What are they authorized to do and why (access control)

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