Against the backdrop of the ever-increasing cyber attacks, government and industry regulations prescribe stringent security measures for banking and financial institutions to safeguard customer data. With information security as the highest priority and tasked with the responsibility to comply with various IT regulations, the IT division of a reputed private bank in the Netherlands started strengthening security controls. The bank handles assets worth billions and is marching towards its tercentenary.
The bank’s IT environment is heterogeneous, comprising of more than 500 network devices, multiple versions of Windows and Linux operating systems, databases, and other applications that serve as the backbone of the bank’s everyday operations. These devices help hold and manage customer data, and privileged access to these devices should be controlled, monitored, and audited.
The bank’s IT team decided to deploy a privileged account management solution to automate the adoption of password management best practices throughout the organization. Initially, the team spent several thousands of dollars on an enterprise privileged account management solution, and deployed it after a series of on-site consultations, installations, and trainings. However, it proved to be a disaster.
The IT team then decided to replace the complex and expensive privileged account management solution with . In a case study profiled by Password Manager Pro, the IT manager of the bank explains the experience with Password Manager Pro and how it helped the bank achieve its information security goals.