What does the Security Assertion Markup Language (SAML) facilitate?

The Security Assertion Markup Language (SAML) primarily facilitates the exchange of authentication and authorization data between different security domains. It is an open standard used to enable Single Sign-On (SSO), allowing users to authenticate once and access multiple applications across different platforms without needing to log in separately for each one.

In the context of identity management, SAML uses XML-based assertions to communicate user identity information and access privileges securely. This process enhances security and interoperability among various services and applications, as it streamlines the authentication process while maintaining strong security controls. By using SAML, organizations can centralize their identity management processes and improve user experience, making it easier for users to move between different services while keeping their credentials secure.

The other options do not accurately describe the purpose or functionality of SAML. For instance, while data encryption is an important aspect of cloud security, it is not the primary function of SAML. Similarly, monitoring security events and creating risk assessment frameworks pertain to other security practices and tools, which do not fall under the domain of SAML's authentication and authorization capabilities.