Yes this is certainly possible as long as your application understands to SAML 2.0 protocol. SAP Cloud Identity will serve as an identity provider to SAP & non-SAP applications and to cloud/on-prem applications as well and does offer 256bit encryption, 99.99% uptime, quarterly updates and Social Auth (OAuth 2.0) with LinkedIn, Google, Facebook & Twitter. And also offers Password self services, reports and IP blocks etc.
Thanks
Prashanth