SecZetta-icons

Financial Services

The financial sector is a heavily regulated industry both at the federal and the state level.

Financial organizations share several IAM challenges:

  • Regulatory requirements that demand strong authentication and other data protections
  • Identity lifecycle challenges for contingent workers
  • Federated access for strategic organizational relationships
  • Auditable lifecycle of the workflow, employees and contingent workers
  • Multiple personas for the same identity
  • Managing access to a wide variety of financial applications
  • Effective access certification with full accountability for the most sensitive applications
  • Timely access revocation for resources no longer needing access

Regulations include Sarbanes-Oxley, Consumer Privacy, Data Privacy and the Patriot Act just to name a few, creating a need for organizations to invest in applications that help them meet the regulatory requirements. However, meeting regulatory requirements doesn’t necessarily mean a clean and safe environment. Data breaches are still occurring on a regular basis despite millions invested in security and identity access management (IAM) systems, because these systems are only addressing some of the issues.

The traditional IAM systems are great at dealing with employees. In an IAM implementation, heavy emphasis is typically placed on getting the employees up and running first. According to the U.S. Government Accountability Office, 40.4% of the U.S. workforce is made up of contingent workers. That is almost half of an organization’s workforce that is left unmanaged, semi-managed or managed with a broken process. To compound the effect, data breaches are often linked to compromised contractor accounts.

Is Your Business at Risk?

Find out how non-employees could be affecting your company's security

Third Party Risk Management Webinar

In this 1 hour webinar learn how your business can overcome third party identity challenges and implement a secure strategy.

SecZetta-icons
Talk to an IAM Consultant

Contact us to learn more about our products or how SecZetta can provide your organization with holistic IAM solutions.

SecZetta-icons
Demo our Software

Contact us to learn more about our products or how SecZetta can provide your organization with holistic IAM solutions.

Get recent news, helpful resources & upcoming events