Finance

Since the finance industry is at the forefront of digital transformation, it faces significant challenges in cyber security. Paraview empowers finance institutions to secure their identity assets, privileged access, and databases.

Pain Points

Risks of Sensitive Data Protection

As financial institutions embrace digital tools like cloud computing, mobile banking, and third-party integrations, they face heightened risks in protecting sensitive customer information and transaction records from sophisticated cyber threats.

Data breaches in the finance sector can lead to severe financial losses, legal repercussions, and lasting damage to the institution's reputation, making robust data security a top priority.

Compliance with Regulations & Standards

The finance sector is subject to rigorous regulatory requirements such as GDPR, PCI-DSS, SOX, and local banking laws, which mandate strict controls over data access, storage, and usage to protect sensitive information.

Non-compliance with these regulations can result in hefty fines, legal liabilities, and loss of customer trust, requiring financial institutions to continuously adapt their security and compliance strategies.

Complex IT Environment

The expansion of digital services has led to increasingly complex IT environments where managing privileged access—accounts with elevated permissions—is crucial to prevent unauthorized access and insider threats.

Manual management of privileged access is inefficient and prone to errors, necessitating automated, centralized solutions to ensure only authorized personnel can access critical systems and data.

Security Vulnerability in API Interactions

APIs are essential for enabling seamless interactions between various systems, applications, and services within financial institutions, but they also introduce new security vulnerabilities if not properly managed.

Unsecured APIs can become entry points for cyber attackers, compromising sensitive data and disrupting financial services, making robust API security a critical concern for financial institutions.

Solution Overview

Integrated Identity and Access Management

Implement a unified platform for managing user identities and access rights across all systems, ensuring that only authorized individuals have access to sensitive data and resources. This includes multi-factor authentication (MFA), single sign-on (SSO), and role-based access control (RBAC) to enhance security and compliance.

Granular Privileged Access Controls

Securely manage and monitor privileged accounts with fine-grained controls and real-time visibility into user activities. This helps prevent unauthorized access, reduce the risk of insider threats, and ensure compliance with regulatory requirements.

Secure API Management

Facilitate the secure integration of APIs across financial systems, ensuring that data exchanged between applications is protected from threats. This includes API gateway management, encryption, and continuous monitoring to detect and mitigate potential vulnerabilities.

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Integrated Identity and Access Management

Granular Privileged Access Controls

Secure API Management

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Business Values

‍Enhanced Security and Risk Management: By securing identities, privileged access, and APIs, your organization can significantly reduce the risk of data breaches and cyberattacks. This proactive approach to security protects your most valuable assets—customer data and financial information—while safeguarding your organization's reputation.‍
Regulatory Compliance and Audit Readiness: Our solution simplifies compliance with industry regulations by providing comprehensive audit trails, automated reporting, and real-time monitoring of access and activities. This reduces the burden on compliance teams and ensures that your organization is always audit-ready.‍
Operational Efficiency and Cost Savings: Automating identity and access management processes reduces administrative overhead, freeing up IT resources to focus on strategic initiatives. This increased efficiency leads to cost savings and improved agility in responding to business needs.‍
Improved Customer Trust and Satisfaction: Demonstrating a strong commitment to security and compliance builds trust with customers, who are increasingly concerned about the safety of their financial information. By providing secure and seamless digital experiences, your organization can enhance customer satisfaction and loyalty.‍
Scalability and Future-Proofing: Our solution is designed to scale with your organization as it grows and evolves. Whether you're expanding into new markets, adopting new technologies, or integrating additional services, our platform provides the flexibility and security needed to support your long-term business goals.