As explained by Instagram:
"Third-party apps and websites often provide an option to “Import photos from Instagram” or to “Connect/Link to Instagram.” Some examples include apps that allow you to easily print your Instagram photos or help you build a website. After connecting your account to a third-party service, you may grant them access to some of your profile information, such as your username and photos. Starting today, we’re making it easier for people to manage all of the third-party services they connect to their Instagram account."
The first update - in the left screenshot above - will enable users to manage which apps can access their account information via the mobile app.
Now, when you head to Settings>Security>Apps and Websites, you'll be able to view a list of all the tools and companies which you've allowed to access your Instagram account
"From there, you’ll have the option to remove any third-party services you no longer want connected to your Instagram account. When you remove a third-party service, they will no longer have access to new data on your account."
Most social apps have this same functionality available via their desktop versions - as does Instagram - but the capacity has previously not been accessible within the mobile app.
The second update is an improved authorization screen for third-party apps (right screenshot above), which will list all the information that the third-party tool is requesting. You’ll then have the option to “cancel” or “authorize” this access directly from the authorization screen.
As noted, variations of both of these functions have been available previously, but these new processes improve on Instagram's options, and will make it easier for users to better manage their personal data and information.
But you may not have access to them yet - Instagram says that these new updates "will be rolling out gradually over the next six months". You'll need to update your app to the latest version and check.