Leading Global Bank

A leading global bank for private and corporate customers with over 1,000 branches and 15 million clients in Europe, present in 50 countries globally.


"The first time I was asked to grant access to a resource, I was surprised at how easy access management for privileged users can be."SpokespersonSenior Executive, Leading Global Bank

About Leading Global Bank

This bank faced pressure from regulators when audits revealed insufficient access control and record keeping for privileged accounts across its vast server landscape, resulting in a formal regulatory finding.

Challenge

This leading global bank for private and corporate customers, with over 1,000 branches and 15 million clients in Europe, achieves gross revenues of 10 billion euros and is present in 50 countries globally.

Being in a highly regulated industry, the bank is frequently audited in many areas to ensure compliance with international laws and regulations. A recent IT audit revealed that privileged user accounts were not managed and monitored effectively, posing a potential security risk to the bank's core systems.

Following a formal regulatory finding, the bank faced pressure from regulatory bodies to reduce the operational risk and ensure reliable permission management together with comprehensive records of administrator activity on its 12,000 UNIX, Linux and Windows servers.

Our Solution

The bank evaluated several solutions to replace its in-house scripts, which did not provide comprehensive reports to satisfy all auditing requirements. We offered what the bank considered to be the best combination of strategic fit, technology fit and low total cost of ownership.

To mitigate operational risks and improve compliance, the bank decided to engage us and an experienced partner to implement Identity Manager and Privileged Account Manager for its 1,000 system administrators.

Consulting worked closely with the partner and the bank to develop a security and compliance concept based on its leading products. Senior management at the bank and at our company were involved throughout the project, ensuring rapid response in what was a constantly changing and highly challenging environment.

The head of IT production systems at the bank said, "System administrators are the most complex users to manage. Identity Manager has given us a powerful solution that enables us much tighter and more transparent control over what our sysadmins can do."

With time-limited availability for system administrator accounts and reliable workflows for exception management and recertification to grant staff access to mission-critical systems when required, the bank benefits from our flexible and easy-to-use software.

To ensure highest security levels, our solution was reviewed by an external IT consulting company which acknowledged the well-designed and intelligent system architecture that allows custom connectors to various systems to match the bank's needs perfectly.

Results

By replacing its internally-developed system with a customizable off-the-shelf solution from us, the bank expects to reduce its operational risk significantly, while also lowering auditing and compliance costs in the long run.

Our flexible and extensible solution provides visibility into everything that privileged users are doing on the bank's systems, considerably strengthening the bank's IT security and compliance.

A senior executive at the bank underlined the usability and simplicity of the solution for business users: "The first time I was asked to grant access to a resource, I was surprised at how easy access management for privileged users can be."

Following the satisfactory outcome of this initial solution implementation to address its compliance issues, the bank is now considering working even closer with us in order to directly contribute to the continuous improvement of our solution portfolio.

Banking and Finance

GermanyNorth America

  • Reduces the bank's operational risks significantly.
  • Provides visibility into system administrator activity.
  • Combines high security level with easy-to-use interface.

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Amy Sachrison
Director
Press & Analyst Relations

Phone: (713) 418-5368
Email: amy.sachrison@netiq.com