Identity Management for Financial Services
Many of the world's leading financial institutions and insurers rely on SailPoint IdentityIQ to better manage risk and compliance. Our breakthrough governance-based approach has proven successful across virtually every segment of the financial services industry – spanning commercial and investment banking, payment processing, property and casualty insurance, life and health insurance, and healthcare/managed care.
SailPoint's team understands the unique challenges of managing user access in the financial services industry, and our products and services are uniquely suited to address them.
Higher Risk, Heavier Consequences
Risk has always been inherent to doing business in this industry. In the current environment of industry restructuring, growing security threats, and increasing incidents of fraud or data breaches, the dangers of risk – and the consequences of poorly managing it – are greater than ever. Institutions are under increasing public and regulatory scrutiny, with a very high likelihood for new and more stringent regulations to come.
SailPoint IdentityIQ allows financial institutions to measure and manage security and identity risk associated with user access to crucial systems and applications in a centralized and structured way. This is crucial not only for regulatory compliance purposes, but also for addressing real business risk in the IT environment. IdentityIQ is the first and only solution that automates complex compliance processes and streamlines the delivery of access while ensuring policy is proactively enforced every step of the way.
Extremely Diverse, Distributed IT Environments
Financial institutions often have a diverse set of hardware and software assets, amassed via mergers and acquisitions, along with new service offerings. And in many cases, these assets are distributed across multiple business units around the world. Such complex environments make risk management, compliance and identity administration exceedingly difficult. And even though many organizations have invested in a variety of identity management tools, they still have inconsistent processes for managing user access and lack a centralized view into who has access to what.
IdentityIQ is particularly suited to identity management across such highly complex IT environments. First, the solution unifies identity data from all enterprise systems, platforms, and applications (including custom applications) into a single logical identity repository. Then, IdentityIQ enables the organization to apply common role, policy and risk models to all identity management activity. This provides the enterprise-wide visibility and control needed to reduce risk and effectively comply with government regulations – including the Gramm-Leach-Bliley Act (GLBA); the Sarbanes-Oxley Act (SOX); the Model Audit Rule (MAR); and more. In addition, IdentityIQ empowers users to easily and independently request, approve, and manage access. As a result, provisioning and user lifecycle management are greatly streamlined and manual processes are eliminated, dramatically cutting costs and boosting user productivity.
Organizational Size and Global Scale
Financial institutions represent some of the world's largest organizations. Many employ multiple thousands of workers, with access to hundreds or thousands of applications, databases, and systems. Providing secure access control across such vast organizations is uniquely challenging. Meeting compliance and risk management mandates further adds to the cost and complexity.
SailPoint has delivered some of the largest identity management implementations in the financial services industry. For example, our solution is successfully deployed at one of the top 10 global finance firms, managing a very large-scale environment with thousands of applications, more than 20,000 active employees and 500,000 managed identities, and more than 50 million entitlements.