CyberArk (NASDAQ: CYBR), a leader in identity security solutions, today announced that IIFL Group, one of India’s largest financial services conglomerates, has selected the CyberArk Identity Security Platform to enforce least privilege access across vulnerable developer endpoints. This move aims to enhance threat protection, improve user experience, and streamline compliance reporting.
Employing over 30,000 personnel and serving more than seven million customers across various financial sectors, IIFL Group includes entities such as IIFL Finance, IIFL Home Finance, IIFL Securities, Livlong Insurance Brokers, 5Paisa, and Livlong 365 Protection & Wellness Services.
Prior to adopting CyberArk, IIFL Group faced significant challenges related to vulnerable developer endpoints with excessive privileges and inefficient compliance processes. The risks associated with developers having persistent administrative rights included potential data breaches, injection of vulnerabilities, and unauthorized software installations. Moreover, complex compliance requirements strained resources and jeopardized regulatory adherence, essential for maintaining market credibility and customer trust in financial institutions.
Seeking an identity security solution that streamlined workflow without disruption, IIFL Group chose the CyberArk Identity Security Platform. This platform now manages and secures developer access to sensitive data and applications, effectively preventing unauthorized software deployments and safeguarding development environments against malware. CyberArk’s intelligent privilege controls ensure just-in-time access, secure storage of credentials across all systems and applications, and simplify compliance reporting through robust reporting and analytics capabilities.
Ameya Sathye, Vice President & Group Head of Cyber Security at India Infoline Group, commented, “CyberArk has significantly bolstered our cybersecurity defenses. Implementing their solution has enabled us to adopt best practices in identity security for our developers and has greatly enhanced our administrative workflows. We are highly satisfied with CyberArk’s product, support, and service.”
Rohan Vaidya, Area Vice President, SAARC & India, CyberArk, stated, “The CyberArk Identity Security Platform empowers organizations like IIFL to effectively mitigate cyber threats targeting developers, who often possess unrestricted access to critical assets such as source code, production environments, and databases. We are proud to collaborate with IIFL Group and are committed to advancing their cybersecurity capabilities with resilient and streamlined practices to protect all identities, whether human or machine.”
Source: ca.finance.yahoo.com
