Financial Services organizations continually struggle to keep pace with increasingly stringent regulations related to Sarbanes-Oxley (SOX), Security and Exchange Commission (SEC), National Association of Security Dealers (NASD), and Basel III, among many others. Financial companies need to secure material non-public information, financial transactions, customer information and IP to prevent wrongful disclosure.
Attribute Based Access Control (ABAC) leverages contextual information about the user, the data and the environment to make more informed and granular access decisions. Information barriers can also be created to implement internal boundaries to restrict information flow across teams or divisions – resulting in increased data security.
All sensitive documents are classified and secured using encryption according to the level of protection needed. User rights to view, edit, copy, etc. are dependent on receiver’s credentials. Personally Identifiable Information (PII) and other sensitive information can be redacted or masked to ensure protection.
Centralized Visibility and Control
Financial services firms must have visibility into who is doing what with their data at all times. Centralized policy management provides control over data access. Administrators can review policies in business language – they do not need IT to interpret. And, data monitoring provides centralized audit capabilities to streamline the process.
Externalized Authorization Management
Authorization is decoupled from the application to facilitate implementation and changes that need to be made to policies. Policy updates are made centrally and do not involve any changes to the application itself greatly increasing time to market.