Introduction Insider threats continue to rise in the financial industry, creating significant challenges for institutions protecting sensitive data. According to the 2023 Insider Threat Report, 74% of organizations feel moderately to extremely vulnerable to insider attacks, and 60% have experienced at least one insider attack in the last year. These
Mastering Identity and Access Management (IAM) in finance is crucial for securing sensitive data, staying compliant, and streamlining access management. Financial institutions face challenges like role creep, fragmented systems, and evolving regulations, but solutions like automation, Role-Based Access Control (RBAC), and real-time monitoring can simplify these complexities. Check out our
Introduction In 2023, U.S. consumers reported over $10 billion in losses to fraud, a 14% increase from the year prior, with phishing accounting for 75% of these losses. As digital banking expands, financial institutions face growing threats from sophisticated fraud techniques like identity theft and phishing. Identity and Access
Strengthening fraud detection in banking is more critical than ever, and Identity and Access Management (IAM) practices provide a powerful solution. Multi-factor authentication (MFA) enhances security by requiring multiple verification steps beyond just passwords, making it much harder for attackers to gain unauthorized access. With role-based access control (RBAC), employees
What Is Identity Reconciliation? Reconciliation is an Identity Governance audit process, which compares User access, access rights, and privileged accounts, against the agreed-upon authoritative identity source of truth. This process is used to confirm what data is present in an application, and sync that data with an existing Identity Management
IAM Request Management Business owners and managers must have an efficient process for managing all user access requests, to available organizational resources. If not, sensitive information is at risk. In a hybrid environment, this will include all internal and 3rd-Party applications and services. Historically, organizations used paper trails, like spreadsheets,
Expert Advice: Top Strategies for Managing Privileged Access Privileged accounts are prime targets for cyberattacks, making their management a critical component of Identity and Access Management (IAM). Implementing the principle of least privilege minimizes misuse risks by granting only the access necessary for specific tasks, while regular audits keep privileges
Steps to a Seamless Identity Governance and Administration Implementation Successful Identity Governance and Administration (IGA) implementation begins with defining clear objectives aligned with compliance and security needs. Conduct a comprehensive assessment of existing identity processes to identify gaps and inefficiencies, then establish a governance framework outlining roles, responsibilities, and access
IAM Fundamentals: Building a Strong Identity Framework A strong identity framework is essential for any effective Identity and Access Management (IAM) strategy, enabling organizations to accurately identify users, manage access rights, and ensure regulatory compliance. Key components include identity lifecycle management, authentication protocols, and access control policies. By adopting a
What does automated onboarding and provisioning mean? User provisioning, or user access provisioning in the simplest terms, is the process of providing someone access to something, particularly an application, resource, or level of rights. Along with the process of actually giving the person that access, there is also the process
Solo vs. Team Controversy – A System Administrator Skills And Career Path Comparison. Some Sysadmins may need a trigger warning before reading this article. We witnessed heated debates about working inside a team versus the "does it all" IT person. Which is better for your career, education, salary, and
Microsoft’s Active Directory Federation Services (ADFS) is an optional software component service for Microsoft’s Active Directory that runs on Windows Server Operating Systems. ADFS provides users with single sign-on (SSO) access to systems and applications located across multiple organizations and services. This could include services such as Gmail,