CyberArk Software Ltd. announced that IIFL Group has chosen CyberArk’s identity security platform to implement least privilege on vulnerable and high-risk developer endpoints to strengthen protection against threats, d improve user experience and simplify compliance reporting. The IIFL Group employs over 30,000 people and serves over 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.
Prior to adopting CyberArk, the group’s cybersecurity teams faced significant issues with vulnerable, highly privileged developer endpoints and ineffective compliance processes. The risk of compromised identities due to developers holding persistent administrative rights posed threats such as data loss, vulnerability injection, and malware installation. Additionally, cumbersome compliance practices strained resources and risked compromising regulatory compliance, compliance with which is crucial for financial institutions to maintain market share and customer trust.
The IIFL Group needed an identity security solution for developers that was easy to administer and did not disrupt workflow. The group chose CyberArk’s identity security platform to manage and secure developer access to sensitive data and applications, to prevent unauthorized software installation and protect its developer platform against malware. CyberArk applies intelligent privilege controls to provide just-in-time access.
Additionally, it secures credentials stored across operating systems and third-party applications, while its reporting and analytics capabilities simplify compliance reporting requirements.
