How Our Security Provisioning Transformed the Access Governance of Financial Service Provider

Cyber security

Executive Summary

With a reputation for creating profitable portfolios of stocks, bonds or other securities that pool the money for its wider clientele, the client is a leading name in mutual fund and financial services. Operating mainly in Latin America and USA, the client is slowly trying to raise its footprints in the Asian market. But to solidify its steps in that direction, it wanted to strengthen its access governance. The want seemed logical since the client had to deal with the financial data of customers, which is extremely secretive in nature.

Client Challenges

  • The client was with a large repository of portfolios that they had to manage.
  • For an end to end management of those portfolios and to send timely notifications to the respective portfolio holders, the client created a closed ecosystem of 200+ applications.
  • With such a high number of applications, the client found it difficult to create role-based accesses to these business-critical applications. The client also had to maintain proper visibility about it in the entire organization.
  • Similarly, the client had no automation in place for access certifications and reporting for Audit & Compliance.
  • To maintain the high standards of safety for sensitive financial data, the client needed proper implementation and rollout of Access Governance.

Our Solutions

  • Since 200+ applications form the core of the client’s functionality, we first tried to understand their technical architecture, compatibility with other device platforms and workflows.
  • To make them streamlined and bring them under one monitoring eye, we defined the application onboarding framework.
  • Once the efficiency of applications was ensured, we implemented and rolled out IDM Solution and integrated it with Futurism’s Access Governance Solution.
  • To maintain notifications of the correct entitlements and entitlement path for each user, we integrated AGS with IDM for Auto fulfillment.

Quantifiable Benefits

  • Better visibility into who has access to what
  • Improved understanding of period certification as per compliance mandate
  • Enhanced risk and compliance picture due to automated reporting
  • Heterogeneous applications got automated role-based provisioning

About Futurism Technologies

Futurism Technologies is a global business leader, that bringing 360-degree Digital Transformation for business enterprises of various sizes, as well as technology providers by delivering assured business efficiency through a set of new-age technologies. We provide end-to-end high quality and cost-effective IT services to a variety of industries. With state of the art offices in India, US, UK, Australia, and UAE, we have become a global trusted partner of our clients by delivering age-defining and convention-defying digital transformation solutions.

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