CyberArk Products Case Study: S&P 500 Bank Holding Company

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CyberArk Case Study

Case Study: S&P 500 Bank Holding Company

Introduction

This case study of a S&P 500 banking company is based on an April 2018 survey of CyberArk customers by TechValidate, a 3rd-party research service. The profiled company asked to have their name blinded to protect their confidentiality.

“Putting our accounts behind a secure encrypted vault is ideal for Audit and Risk from every angle. We need to be compliant and stay ahead of the game. Protection is our company’s #1 IT focus.”

Challenges

The business challenges that led the profiled company to evaluate and ultimately select CyberArk:

Resolved the following challenges after using CyberArk:
- Balancing security with productivity
- Rampant password reuse across multiple accounts
- Securing credentials used by applications
- IT admins having more privileges than they truly need
- Unmanaged or unaudited third-party / remote vendor access
- Too many endpoints with local administrator privileges
Adopted CyberArk’s privileged access security because of the following compelling business drivers:
- Initiated a proactive security project
- Wanted to be better prepared for an audit
- Were driven by a board-level or executive mandate
- Failed an audit
Selected a solution for privileged access security to:
- Limit the exposure of privileged credentials
- Enforce strong passwords, store them in an encrypted vault, and rotate them
- Simplify audit and compliance requirements
- Secure third-party access
- Secure privileges on endpoints
- Secure infrastructure and assets in the cloud
- Secure privileged accounts and credentials for non-IT users (Finance, HR, Marketing)

Use Case

The key features and functionalities of CyberArk that the surveyed company uses:

Uses CyberArk for the following:
- Securing privileged credentials in a vault
- Rotating credentials based on policies
- Securing and rotating shared service accounts
- Monitoring and recording privileged sessions
- Detecting and responding to attempts to circumvent privileged access controls
- Securing credentials used by applications
- Managing third-party / remote access
Managing the following types of privileged accounts, credentials, and secrets with CyberArk in the next 12 to 18 months:
- Domain admin accounts
- Microsoft Windows admin accounts
- NIX admin accounts (UNIX and Linux)
- Network device accounts
- Database or application admin accounts
- Cloud admin consoles for IaaS or PaaS (Amazon Web Services, Microsoft Azure, Google Cloud, OpenShift, Pivotal Cloud Foundry)
- SaaS accounts (Microsoft Office 365, Salesforce, Box, Concur)
- Application credentials
- Service accounts
Plans to integrate the following tools with CyberArk within the next 18 months:
- Authentication (DUO or OKTA, RSA)

Results

The surveyed company achieved the following results with CyberArk:

Reports that since adopting CyberArk to manage their privileged accounts and credentials, they are now significantly more secure.
Reports that since adopting CyberArk to secure their privileged accounts and credentials, the time and cost of audit reporting has reduced.
Reports that with CyberArk, the time required to manage and maintain privileged account and credential security has reduced.

TechValidate Research on CyberArk Products

Case Study: S&P 500 Bank Holding Company

Introduction

Challenges

Use Case

Results

Company Profile

About CyberArk

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