Centrally rotating and management credentials in its developer workflows using an identity security platform has numerous advantages
In order to augment productivity, strengthen identity security and further bolster compliance and auditing capabilities, DCB Bank of India has announced its engagement of an identity security platform.
With 442 branches, one million active customers and over 10,000 employees, DCB is one of India’s new private sector banks that is geared towards using technologies to transform services delivery and customer experience, as well as to optimize operations.
Why did the bank choose an identity security platform? Despite already having what it deems as a robust cybersecurity architecture in place, DCB Bank understands the value of increasing its investment in identity security because of the challenges and risks of delivering automated customer interactions and personalized services via its self-developed applications. Specifically, the bank has identified the need to implement a comprehensive secrets management strategy to manage and protect credentials found in application code. These are increasingly targeted by attackers looking to compromise financial services organizations, said its Chief Technology Officer, Murali Mohan Rao, in describing identity security as part of the bank’s governance framework, information security practices and business continuity plan.
With the platform in place, the bank would have “a future-proof identity security strategy for current and future needs as the bank accelerates digital transformation in support of its business goals,” said. Manduva. The platform will be used to centrally rotate and manage credentials, eliminate “vault sprawl” and dovetail with existing developer workflows.
Additionally, in alignment with the regulations of the nation’s central bank, Reserve Bank of India, the bank is always bolstering its cybersecurity safeguards due to the increased frequency and complexity of cyberattacks.
According to Rohan Vaidya, Area Vice President (South Asian Association for Regional Cooperation & India), CyberArk, the developers of the identity security platform: “Credentials found in source code alongside those used by developers in production environments are highly sought-after by bad actors due to the access they can provide to critical data and assets,” further noting that the identity security platform will help ensure that sensitive customer information is protected while maintaining transaction integrity, banking services availability and business resilience.
