DCB Bank based in India chose the CyberArk Identity Security Platform to augment productivity, strengthen identity security and further bolster compliance and auditing capabilities.
Built for the dynamic enterprise, the CyberArk Identity Security Platform enables secure access for any identity — human or machine — to any resource or environment from anywhere, using any device.
DCB Bank is one of India’s new generation private sector banks with 442 branches, one million active customers and over 10,000 employees.
Despite already having a robust cybersecurity architecture in place, DCB Bank understood the value of increasing its investment in identity security to meet the challenges of delivering automated customer interactions and personalised services for applications based either on-premises or in the cloud.
Additionally, the Reserve Bank of India mandates that financial institutions strengthen their cybersecurity safeguards due to the increased frequency and complexity of cyberattacks.
Specifically, the DCB Bank aimed to implement a comprehensive secrets management strategy to manage and protect credentials found in application code. These are increasingly targeted by attackers looking to compromise financial services organisations.
The bank worked with CyberArk to implement CyberArk Secrets Management, part of the CyberArk Identity Security Platform, to centrally rotate and manage credentials, eliminate vault sprawl and dovetail with existing developer workflows.
“Partnering with CyberArk has helped to develop a future-proof identity security strategy for current and future needs as the bank accelerates digital transformation in support of its business goals,” said Murali Mohan Rao Manduva, CTO of DCB Bank.
Rohan Vaidya, CyberArk area VP for the South Asian Association for Regional Cooperation (SAARC) and India, said credentials found in source code alongside those used by developers in production environments are highly sought-after by bad actors due to the access they can provide to critical data and assets.
“CyberArk will help DCB Bank ensure that sensitive customer information is protected while maintaining transaction integrity, banking services availability and business resiliency,” he said.
Also, DCB Bank is evaluating additional components under the CyberArk Identity Security Platform so that it can build a consistent, single platform for application secrets and to manage privileged access for internal and external IT users, developers and applications.