High value transactions are a fact of life in the Financial Services industry and as more commerce moves to more online services, touched by more people, managing security around those transactions becomes increasingly complex. With increasing regulation and new attack vectors coming from artificial intelligence driven bots, a clear, manageable security strategy is critical to survival.
End to end Transaction Audit trail
In today’s microservice driven ecosystems, it is often difficult to understand what data was accessed by what service and why. Cloudentity’s unique architecture automatically provides identity to every service so no transaction is anonymous.
As regulations such as NYDFS Cybersecurity and GDPR require a clear understanding of exactly what records have been accessed, the ability to see the full chain of custody for a transaction is paramount in establishing a clear view of exactly what was accessed in a breach. This not only greatly reduces the potential per-record fines required under regulation, but helps maintain a greater level of consumer confidence when your organization is able to say clearly what had been accessed, and more importantly, what had NOT been accessed during a breach.
Granular Security Policy Management
While regulation requires visibility into breaches, everyone can agree that not having a breach in the first place is a much better solution. Cloudentity adds identity to every user, service, and API involved in a transaction. This allows the security policies at the service level to evaluate the security based on a range of factors: Is the service allowed to access this data?
Is the user allowed to access this data? Can the user access the data if they execute MFA validation?
High value transactions, such as a payment service, can have higher requirements for trust, but low value transactions, such as looking up banking locations, may not require the same level of deep, integrated trust. Regardless of what the transaction is, all services have identity, and each service can have its own set of rules that match business value.