Large Financial Services Group chooses ARCON PAM for Group Wide implementation

Financial Services Group

Client Brief

It is one of India's leading and amongst most valuable financial services companies in the private sector. Client has interests in asset manage- ment, mutual funds, portfolio management services, pension funds, life and general insurance, private equity and proprietary investments, stock broking and depository services, investment banking, wealth management, home and commercial finance, financial products distribution, venture capital, exchanges, asset reconstruction and other activities in financial services. 

Business Need

Our client operates in multiple geographies with more than nearly 6600+Bank ATMs and 2500+ branches. Bank has dedicated IT team to manage data center and IT for managing the bank’s core banking solution, infrastructure design, project management and services management. Technology has been key agenda for the bank over the years with impressive IT security. Banking Security team prides itself in being a market leader and as such not only adheres to industry regulations, but imposes strict security policies and procedures on itself to ensure sound security across all of its operations.

  • Management of multiple shared IT Infrastructure
  • Third Party Access Control
  • Streamlining & Securing access for users
  • Aligning shared IT teams with restrictive access 

With a growing business and increasing responsibility of management of technology infrastructure, the group needed a solution to manage administrative access, infrastructure,equipment.
This group needed to overcome the manual, burdensome processes required to manage nearly 3000+ privileged
access across 7 different location to more than 1000+ target platforms across 7 lines of business. 

The Challenges

The firm’s shared security & risk management team was under tremendous pressure from a resource and regulatory perspective to manage administrative, shared and third party access. An early adopter of
security related technologies, primary goals for investing in a privileged identity management solution were :

  • To drive down costs for lines of business through better use of automation and reduced resources count
  • Increase security for access to shared IT equipments
  • Demonstrate compliance for managing shared access

Solutions

Increasing security focus on managing multiple endpoint access for its administrators required a flexible solution for audit and security. Following an internal review of its
systems, the group IT steering committee saw a major opportunity to update and improve security procedures as well as its operational efficiency, by replacing its existing manual process for managing & sharing passwords. The initial phase of the project entailed rollout of Access Control Settings considering shared environment of the data center. This enabled approval for every access to sensitive data, improved productivity and access based on service tickets. Maintaining the log for each access request were added silver line to this solution.
 
With the flexibility of the ARCON PAM Privileged Identity Management , the implementation team was able to different policies and workflows for multiple lines of business,which contributed to make the implementation smoother. Various access utilities plugins related to MSSQL, Windows Server, Unix, Oracle, DB2 were integrated to enabled one administrative for all IT users. 

Approach

After considering other solutions, the firm chose ARCON PAM Privileged Identity Management, which is a full blown privileged identity and access management solution. 
ARCON PAM was implemented centrally in a shared data centre of the group company.
 
Some of the most significant challenges associated with the complexity of this enterprise rollout was not only gaining buy in for the technology investment, user acceptance but also navigating and integrating with the specific workflows and policies of each of the firm’s lines of business. Some groups require password resets within two days; others do not require it for up to five days. Some groups have over lapping responsibilities with IT users. Additionally, each geography line of business has compliance requirements that must be taken into consideration.
 
With the flexibility of the ARCON PAM Privileged Identity Management , the implementation team was able to different policies and workflows for multiple lines of business, which contributed to make the implementation smoother. Various access utilities plugins related to MSSQL, Windows Server, Unix, Oracle, DB2 were integrated to enabled one administrative for all IT users.
 
ARCON PAM suite was able to drive benefits across users groups tackling day to day challenges for password management, user management and audit trail.
 

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