Netwrix Case Studies IDB Bank's Digital Transformation: Securing Customer Data and Optimizing Compliance with Netwrix

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	IDB Bank's Digital Transformation: Securing Customer Data and Optimizing Compliance with Netwrix Netwrix

IDB Bank's Digital Transformation: Securing Customer Data and Optimizing Compliance with Netwrix

Netwrix

Technology Category	Analytics & Modeling - Machine Learning Cybersecurity & Privacy - Security Compliance
Applicable Industries	Finance & Insurance National Security & Defense
Applicable Functions	Quality Assurance
Use Cases	Cybersecurity Tamper Detection
Services	Cybersecurity Services System Integration
Challenge	IDB Bank, a New York-based private and commercial bank, faced a significant challenge in securing customer data and ensuring compliance in an increasingly digital and threat-prone banking environment. The banking sector is a prime target for cybercriminals due to the sensitive and valuable data it holds. Any compromise to this data can severely impact a bank's reputation and customer loyalty. The emergence of progressive digital technologies and their associated security risks further complicate data protection in the banking sector. David Smithers, CIO at IDB Bank, was tasked with transforming the organization into the 'bank of the future' over a five-year period. This transformation presented a major security challenge. To address this, IDB Bank conducted a thorough market and technical review to evaluate potential solutions in the System, File Integrity Monitoring, and Change Control space. Read More
About Customer	IDB Bank® is a private and commercial bank based in New York. It is licensed by the State of New York and a member of the Federal Deposit Insurance Corporation. Since its inception in 1949, IDB has expanded from its Manhattan headquarters to include branches across the United States. Today, it boasts over 1000+ employees and 9.229 billion USD in total assets. IDB Bank’s success is driven by their core mission – to aspire to be the best bank for their clients by putting their needs first, offering unwavering personal service, trusted relationships, and the expertise of their people. This mission is supported by the desire to continuously drive change and transformation to better serve their clients. Read More
Solution	IDB Bank selected Netwrix Change Tracker to manage and secure their IT operations while protecting their customers' sensitive data. The SecureOps™ strategy of Netwrix Change Tracker combines essential security controls as prescribed by leading security frameworks such as the Centre of Internet Security (CIS) and National Institute of Standards and Technology (NIST), with the operational discipline of change management. The solution proved to be a great match for IDB Bank’s Linux and Windows IT environment and supports the bank’s 'Defense In-depth' strategy. It enables the bank to differentiate between good or bad changes and carry out forensic analysis as needed. With up to 1000 changes a week, Change Tracker helps detect bad changes, track hardening standards, and monitor and automate the CIS critical security controls. The solution's integration with ServiceNow validates approved changes with a full audit trail, enabling the bank to manage their digital transformation initiatives securely. Read More Log in to view content
Contents

Technology Category

Analytics & Modeling - Machine Learning

Cybersecurity & Privacy - Security Compliance

Applicable Industries

Finance & Insurance

National Security & Defense

Applicable Functions

Quality Assurance

Use Cases

Cybersecurity

Tamper Detection

Services

Cybersecurity Services

System Integration

Challenge

IDB Bank, a New York-based private and commercial bank, faced a significant challenge in securing customer data and ensuring compliance in an increasingly digital and threat-prone banking environment. The banking sector is a prime target for cybercriminals due to the sensitive and valuable data it holds. Any compromise to this data can severely impact a bank's reputation and customer loyalty. The emergence of progressive digital technologies and their associated security risks further complicate data protection in the banking sector. David Smithers, CIO at IDB Bank, was tasked with transforming the organization into the 'bank of the future' over a five-year period. This transformation presented a major security challenge. To address this, IDB Bank conducted a thorough market and technical review to evaluate potential solutions in the System, File Integrity Monitoring, and Change Control space.

About Customer

IDB Bank® is a private and commercial bank based in New York. It is licensed by the State of New York and a member of the Federal Deposit Insurance Corporation. Since its inception in 1949, IDB has expanded from its Manhattan headquarters to include branches across the United States. Today, it boasts over 1000+ employees and 9.229 billion USD in total assets. IDB Bank’s success is driven by their core mission – to aspire to be the best bank for their clients by putting their needs first, offering unwavering personal service, trusted relationships, and the expertise of their people. This mission is supported by the desire to continuously drive change and transformation to better serve their clients.

Solution

IDB Bank selected Netwrix Change Tracker to manage and secure their IT operations while protecting their customers' sensitive data. The SecureOps™ strategy of Netwrix Change Tracker combines essential security controls as prescribed by leading security frameworks such as the Centre of Internet Security (CIS) and National Institute of Standards and Technology (NIST), with the operational discipline of change management. The solution proved to be a great match for IDB Bank’s Linux and Windows IT environment and supports the bank’s 'Defense In-depth' strategy. It enables the bank to differentiate between good or bad changes and carry out forensic analysis as needed. With up to 1000 changes a week, Change Tracker helps detect bad changes, track hardening standards, and monitor and automate the CIS critical security controls. The solution's integration with ServiceNow validates approved changes with a full audit trail, enabling the bank to manage their digital transformation initiatives securely.

Impact #1	The implementation of Netwrix Change Tracker has significantly improved and streamlined IDB Bank's IT operations. It has helped the bank achieve a state of continuous compliance across various regulatory frameworks. The solution's integration with ServiceNow has enabled the bank to validate approved changes with a full audit trail, thereby managing their digital transformation initiatives in the most secure way possible. The bank has also been able to reduce the number of IT security tools it uses, further simplifying its operations. The automation of compliance reporting has freed up time and resources previously spent on manual cybersecurity and change management efforts. Overall, the solution has enhanced the bank's data security against the latest cyber threats, supporting its mission to protect clients' data and assets.

Impact #1

The implementation of Netwrix Change Tracker has significantly improved and streamlined IDB Bank's IT operations. It has helped the bank achieve a state of continuous compliance across various regulatory frameworks. The solution's integration with ServiceNow has enabled the bank to validate approved changes with a full audit trail, thereby managing their digital transformation initiatives in the most secure way possible. The bank has also been able to reduce the number of IT security tools it uses, further simplifying its operations. The automation of compliance reporting has freed up time and resources previously spent on manual cybersecurity and change management efforts. Overall, the solution has enhanced the bank's data security against the latest cyber threats, supporting its mission to protect clients' data and assets.

Benefit #1	Up to 1000 changes a week are managed and tracked, helping to detect bad changes and automate critical security controls.
Benefit #2	Reduced the number of IT security tools used, streamlining operations and reducing complexity.
Benefit #3	Automated compliance reporting capabilities have cut back on time and resources spent on manual cybersecurity, compliance, and change management efforts.

Benefit #1

Up to 1000 changes a week are managed and tracked, helping to detect bad changes and automate critical security controls.

Benefit #2

Reduced the number of IT security tools used, streamlining operations and reducing complexity.

Benefit #3

Automated compliance reporting capabilities have cut back on time and resources spent on manual cybersecurity, compliance, and change management efforts.

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Overview

IDB Bank's Digital Transformation: Securing Customer Data and Optimizing Compliance with Netwrix

Operational Impact

Quantitative Benefit