IIFL Group Secures Developer Access with CyberArk

CyberArk, an identity security company, announced that IIFL Group, a major financial services conglomerate in India, has selected the CyberArk Identity Security Platform. This platform will implement the least privilege across vulnerable, high-risk developer endpoints. The goal is to enhance threat protection, improve user experience, and simplify compliance reporting.

The IIFL Group employs over 30,000 people and serves more than seven million customers through various financial products and services. It includes IIFL Finance, IIFL Home Finance, IIFL Securities, Livlong Insurance Brokers, 5Paisa, and Livlong 365 Protection & Wellness Services.

Before adopting CyberArk, the Group faced the risk of privileged access being compromised due to developers holding standing administrative rights for endpoints. This opened the conglomerate to the possibility of security threats such as data loss, vulnerability injections, and malicious software installation. While IIFL already adopted stringent compliance practices, this crucial risk needs to be mitigated.

IIFL Group required an identity security solution for developers that was easy to administer and did not disrupt workflow. The Group selected the CyberArk Identity Security Platform to manage and secure developer access to sensitive data and applications. This platform helps prevent unauthorized software installations and protects the development platform against malware. CyberArk applies intelligent privilege controls to provide just-in-time access and secures stored credentials across all operating systems and third-party applications. Its reporting and analytics capabilities also simplify compliance reporting demands.

Ameya Sathye, Vice President & Group Head of Cyber Security, India Infoline Group, said, "CyberArk has played a crucial role in enhancing our cybersecurity posture. The implementation enabled us to adopt best practices in identity security for our developers and has significantly improved the experience for our administrators. We are delighted with the product, support, and service provided by CyberArk."

Rohan Vaidya, Area Vice President, SAARC & India, CyberArk, said, “The CyberArk Identity Security Platform enables organizations like IIFL to effectively mitigate cyber threats to developers, who often enjoy always-on, unrestricted access to source code, production environments, databases and other critical assets and due to this are highly sought-after targets. We are pleased to partner with IIFL Group and look forward to supporting the Group’s progression towards establishing more widespread, resilient, and streamlined cybersecurity practices to protect all identities, human or machine.”

Read more from Bharti Trehan..

Read IT Product News here..