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Streamline regulatory exam documentation collection with risk-based automation
Financial Services Mature Audit Posture with Automation
Financial institutions need to provide customers with secure technologies while mitigating insider threats to sensitive data and meeting stringent regulatory compliance requirements.
Saviynt’s platform provides a frictionless end-user experience with quantifiable results so that financial institutions can automate their monitoring and remediation activities to ensure continuous internal control compliance across complex on-premises, hybrid, and cloud-based IT ecosystems.
How Saviynt Solves Challenges In the Financial Services Vertical
Saviynt integrates directly with common federation platforms to seamlessly tie into your multi-cloud environment. Accounts are directly linked back to identities and are automatically provisioned and de-provisioned as identities are added, moved, or removed to ensure credentials are not orphaned. When users leave the organization, Saviynt’s platform automatically removes/disables accounts in the federated platform and cloud solutions, ensuring organizations meet regulatory compliance requirements.
Saviynt’s access analytics restricts activity that could potentially lead to a breach. Leveraging powerful techniques such as quarantine, access lockdown, or security team alerts to address suspicious activity, Saviynt’s platform automatically prevents insecure data sharing.
Saviynt’s intelligence-based platform integrates with enterprise SIEMs to provide holistic access visibility. Saviynt’s platform continuously monitors access privileges for control violations, such as those granted as part of emergency elevation or through a backdoor. When the platform detects potential violations, it sends alerts and suggests remediation actions, such as exception documentation, setting time limits, or rejections.
Saviynt’s Control Exchange provides out-of-the-box compliance controls for business-critical applications. By aligning controls with compliance mandates such as HIPAA, HITECH, HITRUST, PCI, NERC/CIP, COBIT, and CIS, Saviynt’s platform accelerates the implementation of new controls to meet organizational business objectives and needs. Saviynt’s Control Exchange enables cross-mapping between regulatory initiatives, control frameworks, platforms, and control types as well as how Saviynt’s solution monitors and remediates risks. The Control Exchange eases compliance by providing controls that organizations can implement across the multiple platforms Saviynt currently supports.
Saviynt’s depth of visibility with fine-grained entitlements is married with Saviynt’s breadth of visibility across the application ecosystem to allow organizations to define cross-application SoD controls.
Saviynt’s data analysis capabilities include pattern matching and natural language processing capabilities, to classify data as PII, PCI, PHI or Intellectual Property. Enterprises can leverage Saviynt to perform peer and behavioral analytics to detect high-risk activity based on risk scoring parameters including volume spike, ingress/egress traffic, event rarity, outlier access, policy/control violations, and threat intelligence. Saviynt enables enterprises to perform signature-less analysis for rapid detection, effective investigation, and closed-loop security response.
Saviynt provides firefighter/emergency management capabilities with the ability to request and provision time-bound elevated access during business emergencies. After the completion of the user’s critical actions, Saviynt automatically initiates a complete review of the user’s audit/usage trail to ensure only authorized activities were performed. Saviynt further automates the life-cycle management of firefighter access with continuous review and certification of firefighter role and its contents by business role owners.
Saviynt’s factory application onboarding model leverages our intelligent analytics with a template-based approach that automates and expedites modernization strategies by simplifying business tasks while improving quality and consistency. Organizations deploy the ID and security warehouse then prioritize applications. Next, organizations import Segregation of Duties (SoD) rulesets, users, usage data, asset management, applications, and entitlements. Organizations can typically complete Phase 1 within 90 days, depending on application complexity.
Only Saviynt can delve into all of the complexities of application security hierarchies to draw a very precise image of exact access. Leveraging this deep visibility, you can grant the most precise access necessary for a person to execute their job, ensuring you’re adhering to the principle of least privilege across the entire application ecosystem.
With Saviynt’s intelligent analytics and peer analysis, managers and IT administrators involved in the access review and certification campaign process gain visibility directly into the riskiest access. Saviynt’s platform enables organizations to create business-process workflows focused on risk to alleviate the “rubber-stamping” often involved in periodic reviews and certification campaigns. Approvers see only those risks elevated based on “high-risk” designation, ensuring governance over user access and easing compliance burdens.
Saviynt’s DAG solution allows the creation of risk-based policies to manage the data access program and automate user requests to data. Assigned data owners perform fine-grained access review to ensure granting entitlements aligns with business needs. Utilize peer and behavioral analytics detect high-risk activity in near real-time, allowing the enterprise to rapidly investigate and respond.
Saviynt comes with over 250 security controls and risk signatures available out of the box based on industry compliance standards allowing rapid deployment of business use-cases based on industry best practices with drag-and-drop workflow configuration to expedite the customization of complex workflows. With a built-in, drill-down dashboard to monitor and analyze trends, history of control violations, as well as automatically generating alerts for control owners.
Saviynt’s platform leverages its extensive identity entitlement warehouse, using access similarities to standardize role definitions. Employing both bottom-up and top-down role analysis, as well as usage-log analysis, Saviynt provides visibility into access granted but not being used, mitigating excess access risk. The platform also reviews access granted to some, but not all, individuals in a given role, enabling access request suggestions or recommending role re-engineering to reduce friction.
Developers utilizing DevOps tools for deployment are left with the challenge of how to ensure code can run with the necessary permissions, but authentication keys or passwords aren’t stored within that code. Saviynt’s API integration provides the tool for developers to make a programmatic call to the Saviynt vault to request access permissions and check out a key at the time of code execution. This creates a more secure environment, less subject to key exfiltration and compromise.
RELATED / FINANCIAL SERVICES SOLUTIONS
Listen as Saviynt, AWS, and Fishtech Group address today’s challenges with cloud security at massive scale based on real-world use cases. AWS services and the Saviynt platform allow you to secure, govern and monitor all human and non-human access, including privileged access and service accounts.
There is a major shift occurring in the IGA and GRC markets, where governance capabilities are being extended between applications and across the digital ecosystem with identity as the foundation.
Your organization is constantly growing and evolving. Whether through mergers and acquisitions or implementation of best-of-breed technologies, organizations of today are required to manage a diverse set of applications – sometimes each with their own unique security model. Saviynt can help.
Ready to give Saviynt’s Financial Services solutions a free test-drive?