CyberArk Case Studies Finansbank Relies on CyberArk to Automate Manual Tasks That Enable it to Streamline Operations and Improve its Security Posture.

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	Finansbank Relies on CyberArk to Automate Manual Tasks That Enable it to Streamline Operations and Improve its Security Posture. CyberArk

Finansbank Relies on CyberArk to Automate Manual Tasks That Enable it to Streamline Operations and Improve its Security Posture.

CyberArk

Technology Category	Cybersecurity & Privacy - Identity & Authentication Management Cybersecurity & Privacy - Security Compliance Application Infrastructure & Middleware - Database Management & Storage
Applicable Industries	Consumer Goods Finance & Insurance
Applicable Functions	Business Operation Quality Assurance
Use Cases	Remote Asset Management
Services	System Integration Training Cybersecurity Services
Challenge	Finansbank faced daunting IT security and compliance challenges associated with its highly manual, time-consuming approach to managing privileged passwords to its core banking systems. There was one dedicated password for each server and each device in the network. All passwords were stored in approximately 200 separate paper envelopes in a physical vault. If anyone needed access to an application, server, or necessary system, password requests were processed through a service center and issued by hand by the IT team. If there was ever a server crash or the need for a password to be accessed immediately, as in a break-glass scenario, it could take more than 30 minutes just to get the right envelope. Additionally, password inventory was stored in an Excel file, audit reports were limited, and the process for manually resetting passwords after each use wasn’t efficient. The manually-intensive approach to password management was impeding the bank’s ability to scale operationally, it was difficult to manage power users, and meeting audit and compliance requirements put a serious strain on resources. Read More
About Customer	Finansbank is a leading global consumer bank founded in Turkey in 1987. It operates in 10 countries with more than 460 branches and seven million customers. The bank recorded a net profit of $433 million (USD) in 2009 and has more than 10,200 employees. IBTECH S.A., a subsidiary of Finansbank, is responsible for managing the bank’s core banking solution, infrastructure design, project management, and services management. The bank is known for its extensive reach and significant customer base, making it a prominent player in the consumer banking industry. Read More
Solution	Finansbank worked with ErCon, a reseller partner in Turkey, to select CyberArk’s Privileged Account Security Solution to tackle its initial pain points associated with password management. The Privileged Account Security Solution is a full lifecycle solution for securing, managing, automatically changing, and monitoring all activities associated with privileged accounts. Specifically, Enterprise Password Vault® enables organizations to enforce an enterprise policy that protects their most critical systems, managing the entire lifecycle of shared and privileged accounts across data centers. Finansbank began installing CyberArk’s Enterprise Password Vault in October 2009, which included integration with ArcSight and RSA tokens for one-time use passwords. All physical envelopes were transferred to an electronic, virtual vault as part of the Privileged Account Security Solution. The IT team established a dual-control (request-approve) mechanism so each operational group can access its own safes without external approval. Finansbank established a MasterKey for rapid request approvals, and all actions associated with password management have been fully automated, from requests to resets, resulting in better authentication and audit capabilities. Read More Log in to view content
Contents

Technology Category

Cybersecurity & Privacy - Identity & Authentication Management

Cybersecurity & Privacy - Security Compliance

Application Infrastructure & Middleware - Database Management & Storage

Applicable Industries

Consumer Goods

Finance & Insurance

Applicable Functions

Business Operation

Quality Assurance

Use Cases

Remote Asset Management

Services

System Integration

Training

Cybersecurity Services

Challenge

Finansbank faced daunting IT security and compliance challenges associated with its highly manual, time-consuming approach to managing privileged passwords to its core banking systems. There was one dedicated password for each server and each device in the network. All passwords were stored in approximately 200 separate paper envelopes in a physical vault. If anyone needed access to an application, server, or necessary system, password requests were processed through a service center and issued by hand by the IT team. If there was ever a server crash or the need for a password to be accessed immediately, as in a break-glass scenario, it could take more than 30 minutes just to get the right envelope. Additionally, password inventory was stored in an Excel file, audit reports were limited, and the process for manually resetting passwords after each use wasn’t efficient. The manually-intensive approach to password management was impeding the bank’s ability to scale operationally, it was difficult to manage power users, and meeting audit and compliance requirements put a serious strain on resources.

About Customer

Finansbank is a leading global consumer bank founded in Turkey in 1987. It operates in 10 countries with more than 460 branches and seven million customers. The bank recorded a net profit of $433 million (USD) in 2009 and has more than 10,200 employees. IBTECH S.A., a subsidiary of Finansbank, is responsible for managing the bank’s core banking solution, infrastructure design, project management, and services management. The bank is known for its extensive reach and significant customer base, making it a prominent player in the consumer banking industry.

Solution

Finansbank worked with ErCon, a reseller partner in Turkey, to select CyberArk’s Privileged Account Security Solution to tackle its initial pain points associated with password management. The Privileged Account Security Solution is a full lifecycle solution for securing, managing, automatically changing, and monitoring all activities associated with privileged accounts. Specifically, Enterprise Password Vault® enables organizations to enforce an enterprise policy that protects their most critical systems, managing the entire lifecycle of shared and privileged accounts across data centers. Finansbank began installing CyberArk’s Enterprise Password Vault in October 2009, which included integration with ArcSight and RSA tokens for one-time use passwords. All physical envelopes were transferred to an electronic, virtual vault as part of the Privileged Account Security Solution. The IT team established a dual-control (request-approve) mechanism so each operational group can access its own safes without external approval. Finansbank established a MasterKey for rapid request approvals, and all actions associated with password management have been fully automated, from requests to resets, resulting in better authentication and audit capabilities.

Impact #1	Finansbank established a MasterKey for rapid request approvals, and all actions associated with password management have been fully automated, from requests to resets, resulting in better authentication and audit capabilities.
Impact #2	All user accounts are now integrated within the CyberArk Privileged Account Security Solution’s central repository – including MSSQL, Oracle, Windows admins, Unix Root and admins, ATMs, Qmatics netscalers, switches, routers, swift users, firewall, and Cisco user accounts.
Impact #3	Finansbank took on a massive project that required fundamental changes across people, process, and technology elements. Keys to a smooth roll-out included preimplementation workshops that educated users on the technology’s capabilities while allowing participants to play a role in defining the scope of the project.

Impact #1

Finansbank established a MasterKey for rapid request approvals, and all actions associated with password management have been fully automated, from requests to resets, resulting in better authentication and audit capabilities.

Impact #2

All user accounts are now integrated within the CyberArk Privileged Account Security Solution’s central repository – including MSSQL, Oracle, Windows admins, Unix Root and admins, ATMs, Qmatics netscalers, switches, routers, swift users, firewall, and Cisco user accounts.

Impact #3

Finansbank took on a massive project that required fundamental changes across people, process, and technology elements. Keys to a smooth roll-out included preimplementation workshops that educated users on the technology’s capabilities while allowing participants to play a role in defining the scope of the project.

Benefit #1	Finansbank recorded a net profit of $433 million (USD) in 2009.
Benefit #2	The bank has more than 10,200 employees.
Benefit #3	Finansbank operates in 10 countries with more than 460 branches.

Benefit #1

Finansbank recorded a net profit of $433 million (USD) in 2009.

Benefit #2

The bank has more than 10,200 employees.

Benefit #3

Finansbank operates in 10 countries with more than 460 branches.

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Overview

Finansbank Relies on CyberArk to Automate Manual Tasks That Enable it to Streamline Operations and Improve its Security Posture.

Operational Impact

Quantitative Benefit