SAML 2.0, standardized by OASIS in 2005, enables single sign-on (SSO), identity provisioning, and attribute synchronization across various platforms, gaining support from major companies like Google, Salesforce, and Microsoft. It serves as a universal identity solvent, interoperating with multiple identity protocols such as OAuth and XACML, allowing for seamless authentication and authorization processes. Additionally, SAML's capability to facilitate just-in-time provisioning enhances user management by automatically creating and updating user accounts as needed.