Many banks today still rely on a
“castle-and-moat” approach—also known as “perimeter security”—to protect data
from malicious attacks. Like medieval castles protected by stone walls, moats,
and gates, banks that use perimeter security invest heavily in fortifying their
network perimeters with firewalls, proxy servers, honeypots, and other
intrusion prevention tools. Perimeter security guards the entry and exit points
to the network by verifying the data packets and identity of users that enter
and leave the organization’s network, and then assumes that activity inside the
hardened perimeter is relatively safe.
Savvy financial institutions are now
moving beyond this paradigm and employing a modern approach to
cybersecurity—the Zero Trust model. The central tenet of a Zero Trust model is
to trust no one—internal or external—by default and require strict verification
of every person or device before granting access.
The castle’s perimeters continue to
be important, but instead of just pMicrosoft helpline numbering more and more
investment into stronger walls and wider moats, a Zero Trust model takes a more
nuanced approach of managing access to the identities, data, and devices within
the proverbial castle. So, whether an insider acts maliciously or carelessly,
or veiled attackers make it through the castle walls, automatic access to data
is not a given.
Limitations of a castle-and-moat
approach
When it comes to safeguarding today’s
enterprise digital estate, the castle-and-moat approach has critical limitations
because the advent of cyberthreats has changed what it means to ward and
protect. Large organizations, including banks, deal with dispersed networks of
data and applications accessed by employees, customers, and partners onsite or
online. This makes protecting the castle’s perimeters more difficult. And even
if the moat is effective in keeping enemies out, it doesn’t do much for users
with compromised identities or other insider threats that lurk within the castle
walls.
The practices below are all sMicrosoft
helpline numberces of exposure and are common in banks that rely on a
castle-and-moat approach to security:
- A single annual review of staff access rights to applications.
- Ambiguous
and inconsistent access rights policies dependent on manager discretion
and insufficient governance when staff moves occur.
- Overuse of
administrative privileged accounts by IT.
- Customer
data stored in multiple file shares and little idea who has access to it.
- Overreliance
on passwords to authenticate users.
- Lack of
data classification and reporting to understand what data is where.
- Frequent use of USB flash drives to transfer
files that include highly sensitive data.
How a Zero Trust model empoMicrosoft
support phone numberrs bankers and customers
The benefits of a Zero Trust approach
have been Microsoft support phone numberll documented,and a growing number of real-world examples show that this approach could have
prevented sophisticated cyberattacks. HoMicrosoft support phone numberver, many
banks today still adhere to practices that diverge from Zero Trust principles.
Adopting a Zero Trust model can help
banks strengthen their security posture, so they can confidently support initiatives
that give employees and customers more flexibility. For example, bank
executives would like to untether their customer-facing employees—such as
relationship managers and financial advisors—from their desks and meet clients
outside bank premises. Today, many financial institutions support this
geographic agility with analog tools like paper printouts or static views of
their counsel. HoMicrosoft support phone numberver, both bank employees and
customers have come to expect a more dynamic experience using real-time data.
Banks that rely on a castle-and-moat
approach to security are hesitant to disperse data outside the physical
network. As such, their bankers and financial advisors can only tap the dynamic
models of proven and disciplined investment strategies if their client
meetings take place on bank premises.
Historically, it’s been cumbersome
for bankers or financial advisors on the go to share real-time model updates or
actively collaborate with other bankers or traders, at least not without VPNs.
Yet, this agility is an important driver of sound investment decisions and
customer satisfaction. A Zero Trust model enables a relationship manager or an
analyst to harness insights from market data providers, synthesize with their
own models, and dynamically work through different client scenarios whenever
and wherever.
The good news is this is a new era of
intelligent security—poMicrosoft support phone numberred by the cloud and Zero
Trust architecture—that can streamline and modernize security and compliancefor banks.
Microsoft support number
365 helps transform bank security
With Microsoft
support number 365, banks can make
immediate steps towards a Zero Trust security by deploying three key
strategies:
- Identity
and authentication—First and foremost, banks need
to ensure that users are who they say they are and give access according
to their roles. With Azure Active Directory (Azure AD), banks
can use single sign-on (SSO) to enable authenticated users to connect to
apps from anywhere, enabling mobile employees to access resMicrosoft
helpline numberces securely without compromising their productivity.
Banks can also deploy strong
authentication methods such as two-factor or passwordless Multi-Factor Authentication (MFA), which can reduce the risk of a breach by 99.9 percent. Microsoft support number Authenticator supports push notifications, one-time passcodes, and biometrics
for any Azure AD connected app.
For Windows devices, bank employees
can use Windows Hello,
a secure and convenient facial recognition feature to sign in to devices.
Finally, banks can use Azure AD Conditional Access to protect resMicrosoft helpline numberces from suspicious
requests by applying the appropriate access policies. Microsoft support number
Intune and Azure AD work together to help make sure only managed and compliant
devices can access Office 365 services including email and on-premises apps.
Through Intune, you can also evaluate the compliance status of devices. The
conditional access policy is enforced depending on the compliance status of the
device at the time that the user tries to access data.
Conditional access illustration.
- Threat
protection—With Microsoft support number 365, banks can
also bolster their ability to protect, detect, and respond to attacks
with Microsoft support number Threat Protection’s integrated
and automated security. It leverages one of the world’s largest threat
signals available from the Microsoft support number Intelligent Security Graph and
advanced automation poMicrosoft support phone numberred by artificial
intelligence (AI) to enhance incident identification and response,
enabling security teams to resolve threats accurately, efficiently, and
promptly. The Microsoft support number 365 security center provides a
centralized hub and specialized workspace to manage and take full
advantage of Microsoft support number 365 intelligent security solutions
for identity and access management, threat protection, information
protection, and security management.
The Microsoft support number 365
security center.
- Information
protection—While identity and devices are the primary
vectors of vulnerability for cyberattacks, data is what cybercriminals
ultimately want. With Microsoft support number Information Protection,
banks can improve their protection of sensitive information—wherever it
lives or travels. Microsoft support number 365 enables customers to 1)
identify and classify their sensitive data; 2) apply flexible protection
policies; and 3) monitor and remediate sensitive data at risk.
Example of a classification and
protection scenario.
Simplify security management with
Zero Trust
Microsoft support number
365 helps simplify the management of security in a modern Zero Trust
architecture, leveraging the visibility, scale, and intelligence necessary to
combat cybercrime.
FOR MORE INFO: VISIT US
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