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PATECCO launches a new Whitepaper – “Digital workspace compliance through Managed Services for Privileged Access Management to effectively prevent insider threats and data loss”

Privileged Access Management (PAM) is one of the most important areas of risk management and security in any business. The constantly changing business practices and the digital transition more and more provoke the necessity of PAM solutions. They reduce the risk of cyber attack and secure digital business with privileged access management, application control and endpoint privilege security.

Known with its expertise in PAM, PATECCO launches a new whitepaper – “Digital workspace compliance through Managed Services for Privileged Access Management to effectively prevent insider threats and data loss”. The Whitepaper contains useful information about PAM functions and capabilities, the latest trends in PAM implementation and explains in details why Privileged Access Management should be the highest cyber security priority of enterprises.

Click on the book image to read the new Whitepaper:

Critical Factors to Look For When Choosing a Managed Services Provider

Managed Services does more than just provide the peace of mind that real time systems like cloud computing and private cloud are reducing your operational costs through increased productivity to help achieve your business goals. Partnering with a managed service provider (MSP) to handle your business IT gives you the freedom to focus on your business instead of struggling to keep your IT infrastructure operational, compliant and secure. MSP gives your businesses the flexibility of access to a dedicated and highly skilled IT team without its being an in-house resource. They can manage your cloud demands, and make sure your other key IT infrastructure stays up and running.

However, choosing the wrong MSP can get your organization in serious trouble. You could be locked into an expensive multi-year contract that doesn’t fit your business needs, or even suffer cyberattacks, data loss, and downtime. For these reasons, it’s crucial that you take the MSP vetting process seriously. This article will discuss the most important best practices when choosing your next managed services provider.

1.Availability

The first factor to consider about IT managed services companies is their service availability. They should be able to provide services that are available 24/7. Determining service availability is important. This is because it allows you to ascertain how proficient a service provider can be. With 24/7 IT monitoring, IT managed services companies will be able to administer updates and patches as quickly as possible. Furthermore, this allows them to detect IT issues in a timely manner. When IT issues are detected in time, your provider can rapidly set up methods to troubleshoot them. This guarantees that your business can prevent worse system problems and IT disasters to happen.

2. Technical expertise

Technical expertise has to be the primary consideration when selecting a managed services provider. It doesn’t matter how cheap or responsive the provider is if they don’t have the skills to actually do the work. Look for a provider who understands the technologies your business uses, who has partnerships with leading vendors, and whose team maintains certifications in the products they support.

3. Industry Experience

Your managed service provider should have a real experience working in your industry, that capability is of a great importance for your business. If you run an insurance company, then an IT expert with insurance industry experience will be able to serve you much better than one who has primarily worked with accounting agencies.  Industry experience ensures your managed service provider will be able to foresee potential problems and also anticipate your operational needs.

4. A proven track record.

Experienced, effective managed IT services providers should have an array of clients with whom they have a proven track record of success. Before entering into an agreement with an MSP, look for reviews, references, and testimonials to determine if other businesses are happy with the service.

5. Flexibility

Organisations’ needs change often, so businesses require flexibility. The services and solutions that you avail of today will not be the same as those you will require in five years’ time. Select an MSP that can provide the flexibility to tailor and scale services to the evolving needs of your company and whose contracts allow flexibility without restrictive penalties. This will allow your organisation to choose from the services that add most value at any given time.  

6. Ability to Innovate

Offering the latest services and adopting new technology early on, will ultimately give your business an edge over its competition.  A managed service provider which stays on top of the latest innovations and offers the most advanced options in IT will ensure your company remains contemporary, functional, and relevant.

7. Partner accreditations

Assessing your prospective provider’s partner accreditations will give you a better understanding of the depth of knowledge and expertise they have in specific areas. Checking the length of time they have been accredited with each vendor and the level of accreditation (Platinum, Gold or Silver) will also help you to find out if they have the ability to maintain long-term relationships at a high level.

8. Reputation Look for a managed service provider that has been around long enough to have developed a good reputation. Be sure to check references and speak to some existing clients to hear how well services were delivered, whether contract commitments were met, and how easy the business was to work with.

  • Why Invest in a Managed Service Provider?

Your company stands to gain a great deal from selecting the right managed service provider. With your technology needs in the hands of experienced professionals, you will have more time to focus on what you do best, while your company benefits from the following:

– Reduced risk and security

– Increased efficiency and flexibility

– Improved service and business continuity

– Increased IT security infrastructure

– Improved regulatory compliance

– Increased adaptability to technological innovations

– Fixed-price projects: based on defined scope

Investing in a managed service provider will add an operating expense to your business, and the cost is minimal compared to the benefits. IT managed services companies allow you to focus on the core needs of your company. With best-in-class IT services, you can ensure that your IT infrastructure will remain secure and stable. This allows you to maintain smooth day-to-day business operations.

PATECCO – Professional Managed Services

For over 20 years, PATECCO has been providing expert-level managed IT services for businesses across all industries in Europe and beyond. From Solution implementation and integration to risk assessment, to actionable threat intelligence and incident response, and more, PATECCO offers full-service IT management to help businesses grow and thrive. Our mission is to provide innovative, comprehensive, and practical IT services to help our clients save time and money while meeting their long-term goals.

For more information about PATECCO Managed Services, read the Whitepaper below:

What Is the Difference Between SaaS and Managed Services?

Nowadays organizations of all sizes have various kinds of services available to them in terms of handling any IT-related needs. They are adopting these solutions to beat the costs and hassles of managing their IT systems and using traditional packaged applications. Managed IT services and software-as-a-service (SaaS) enable you to handle complex technical areas without the added cost of upkeep and installation, on-call staff, and software engineering.

However, there are essential differences between these two outsourced models. In this article, we will explain the differences between managed services and SaaS that every organization needs to understand and will provide some tips on which model works best for an organization’s specific needs.

Use of SaaS

Software-as-a-Service (SaaS) is a service category that allows your company to subscribe and sign in users to an existing software program that operates remotely from your company. In general, SaaS refers to services delivered through the cloud that your company pays for. You and your employees are able to remotely log in and receive the benefits of the program to do tasks such as bookkeeping, payroll, or even research and present reports.

Actually we use software as a service (SaaS) applications every day. Office 365 from Microsoft, for instance, is SaaS, because the company provides it through the cloud and charges firms a subscription fee for the privilege of using it, depending on the number of users. Dropbox is a SaaS application offering online cloud storage services. Adobe Creative Cloud is a SaaS provider offering illustration, design and photo editing tools. Slack, as well, is a SaaS application for business collaboration and communication. Moreover, SaaS applications are off-the-shelf software solutions intended to be implemented and adopted quickly with little to no customization. Despite their many advantages, though, SaaS applications do have their limitations. SaaS applications are one-size-fits-all, download-and-done solutions, meaning there’s little room for customization for one specific account. Plus, most SaaS subscriptions offer minimal support and training to help organizations adopt the software.

Managed Services Vs. SaaS

Managed services are different. While SaaS provides companies with software that they can use over the cloud, managed services go a step further. They often offer additional support by taking care of both networking and hardware requirements. Managed services can also go further than managing software and help businesses on the hardware side too. Managed IT services are IT tasks provided by a third-party vendor to a customer — this can be businesses of all sizes. The managed service provider has the responsibility to maintain the IT operations of the organization that benefits the service.

On the other hand, the software as a service model is a category of cloud computing alongside infrastructure as a service and platform as a service model. The SaaS model involves software distribution in which a third-party vendor hosts, maintains and upgrades applications that are available to customers via the Internet. If an organization has ever utilized any software from the cloud, then it has used SaaS. The software as a service model might be a good fit for businesses that have full commitment to staff their IT infrastructure but need outsourced applications to have cutting edge services and be on the next level. In short, the businesses that will get the most advantage out of SaaS are those that have existing IT infrastructure.

Furthermore, managed IT service providers collaborate with their customers and provide IT expertise and pre-built IT infrastructure. There are also remote IT service providers that fully maintain and control their customers’ IT operations so that these customers will focus on more critical business projects and processes.

  • Security

Managed IT services offer different benefits to keep an organization’s data secure. These benefits include constant remote monitoring and the creation of relevant reports to inform the organization about the state of its system. Another security benefit is risk assessment and correlation analyses to keep a steady overview of the activities of the network.

With SaaS, on the other hand, the customers don’t have complete control over their data since the data is hosted in the cloud. Although a customer has the advantage of accessing SaaS applications anywhere with the use of the Internet, the customer must perform a security review of the application before subscribing, especially when it is deployed on a public cloud.

  • Scalability

By using remote IT services, an organization doesn’t have to worry about switching up approach as it gets bigger because a managed service provider is already setup to do just that seamlessly. They can address day-to-day IT issues, maintain and monitor the network or system, and help an organization plan for future needs when it comes to technology.

When using SaaS, users don’t have to buy another server or software as compared to traditional models. SaaS applications are scalable by enabling an organization to choose the delivery model and changing it when the requirements of the business change. With SaaS, it is easier to turn on an additional set of components, integrate to other systems, and get new application users.

  • Stability And Predictability

One of the most essential things that managed IT services offer is their stability. Unlike the break/fix model where an IT professional is only available when there is an issue, managed IT service providers have a 24/7 availability and prevent all issues from happening. This also includes weekends, holidays, and in the middle of the night, so kind of IT support provides and ensures a superior level of productivity for the availing organization, regardless of the time and date.

In the SaaS model, on the other hand, data portability can be the problem. The situation can become unpredictable and unstable. What happens to an organization’s data stored in the cloud if the SaaS providers go bankrupt? Unfortunately, this is one of the risks an organization needs to take when opting for a SaaS solution.

What kind of service do you need?

Every company needs a variety of IT related services. If your primary needs center around straightforward functions like payroll or simple accounting, SaaS is probably a good fit for you. One of the primary reasons why SaaS is popular among companies is that it provides a low-cost alternative to conventional, in-house solutions. Through this service, your business is free to scale up or down and implement new products without investing too much on expensive processes.

A managed service provider comes at a higher price, but you still get your money’s worth because they provide a more comprehensive solution. Managed IT companies allow you to enjoy the advantages of SaaS while helping you with better integration, upgrades, and maintenance.

As final thoughts we could say that the choice between the two IT solutions depends on your business needs. There are companies that require basic software delivered via the cloud to perform a specific function. In this case, SaaS is the most ideal option. For businesses that need to integrate their systems and monitor networks, getting managed IT services is the best way to go. Whatever option you go for, always think about how important the software required is to your company.

PATECCO Launches a New Whitepaper about Managed Services

As experts in the field of Identity and Access Management PATECCO shares its best practices about Managed Services in a new whitepaper. The whitepaper is a content version of the webinar which PATECCO hosted on 07.05.2021 – „The mapping of growing responsibilities to predictable budgets”, in partnership with EU-Hub.net.

The new whitepaper contains useful information about the latest security solutions that PATECCO team implements and describes four interesting customer success stories. Get to know in details about the essence of PATECCO IAM Consulting services, Privileged Access Management, Security Information Event Management Services, Azure AD Domain Services, Identity Governance and Intelligence, Role-Based Access Control and Recertification process.

The customer success stories about Bayer, Uniper, Innogy and Victoria University Wellington present practical examples of Active Directory migration, Managed-Service for care of the core IAM systems, and implementation of PAM solutions. They also reveal challenging situations where PATECCO successfully dealt with the problem ensuring the necessary security and peace of mind.

More about PATECCO Managed Services, check out in the document below:

What Is the Key Difference Between Managed Services and Cloud Computing

If you have ever claimed that there is no difference between managed IT services and cloud computing, then you are wrong. Indeed, these services are similar and many people get confused when trying to determine which to purchase. Understanding the key differences between these two services is essential and can help you accomplish your business goals. In this article, we will explain the differences between the two concepts and the opportunities they offer to companies.

What is the essence of cloud computing?

Nowadays we use cloud services on many of our daily and business activities. For example, we use computing via the cloud to send emails, edit our documents, listen to music, play games, store pictures and files, watch movies and TV, and to do analytical computing. A secure and powerful data infrastructure is the basis for successful IT management. To ensure that large amounts of data are always available and can be processed smoothly, more and more companies are relying on the cloud. Simply explained, the term cloud computing describes both the use and the provision of a wide variety of IT services via a network.

Cloud computing providers give you the cloud for storage, network resources, prebuilt services, or abstract computing. Cloud computing involves the transfer of IT resources to a cloud service provider who makes its technology available to a company. The provider mainly manages the infrastructure, applications and operating system of the cloud. The client can use this service flexibly and as required. Cloud services like Amazon Web Services, Salesforce’s CRM, and Microsoft Azure are family cloud computing services that help you with managed backup computing. Most larger companies employ several cloud providers or utilize multiple public cloud services to have storage on different managed hardware configurations.

What services does Cloud Computing offer?

Cloud services include all models for the provision of IT resources over a network. These data networks can be public, private or mixed – as public, private or hybrid cloud. The public cloud is controlled via the Internet, while the private cloud uses an internal intranet for networking. In the hybrid cloud, companies can store sensitive programs and data on their own servers and operate certain services via the Internet with public providers in order to conserve their own resources.

There are benefits to moving your business operations to the cloud. You can save time and money by not managing your own in-house servers and framework. Going with a cloud service provider for your business can also increase your efficiency. Your team can collaborate remotely, with all of your software and devices syncing automatically. Here we list some more services that are provided by the cloud:

  • Storage, back up, and data recovery: Transfer data via the Internet to a cloud storage system that is offsite. The cloud allows access to data from different locations and using any type of device with these services.
  • Analyze information across teams:The cloud can bring your business statistics from all worldwide departments. Apply cloud services to help you find new information for a more managed decision.
  • Audio and video streaming: Stream audio and video and connect with team members and business audiences anywhere and on any device.
  • clo by using cloud-managed infrastructure that can test and build applications. Application development costs and time are saved by using cloud infrastructures.

What are managed services?

Managed IT Service providers manage and maintain your IT services and functions. They take care of issues that are often done in-house, such as security operations, encryption, infrastructure development, network connectivity, IT strategy and growth management, Backups/disaster recovery/business continuity and Data security. Managed services providers can deliver all of the above services, as well as a higher level of IT support that may include:

Managed service models are ideal for organizations that do not have the trained staff to deal with maintenance, repairs, and updates. Managed services also offer companies a fixed monthly fee for services to provide high-quality amenities. So, in this way you will experience better cost control using managed services. An IT department, including personnel and equipment, can be very expensive for a company. For instance, by utilizing a managed service provider expenses can be managed efficiently to forecast costs every month. Risk management costs and headaches are lowered by using the expertise and methodologies of managed services. A managed service model manages the IT risk for your company, and they have the experts who know the industry and are experienced in compliance and security issues. Besides, you will also have the benefit of 24/7 security monitoring and business IT support. With a managed service provider, you can outsource your IT challenges so that you can focus on your business.

Which is the right service for your business?

Business owners commonly choose cloud services over managed services  because the former appears to be a cheaper option. Cloud providers can provide your company with cost savings and reduced network maintenance costs and at the same time the computing data is stored securely and efficiently in offsite servers. Besides, your costs will be predictable, and you pay only for what you need. When you’re trying to decide whether to use a cloud services provider or a more holistic managed services provider, it’s important to understand what you are getting into, so you can make the choice that most benefits your business.

PATECCO Organizes a Free Webinar About Managed Services in Partnership with Eu-hub.net

The Identity and Access Management company, PATECCO, organizes in partnership with EU-HUB Network, a free Webinar on topic “The mapping of growing responsibilities to predictable budgets”. The online event will take place on 07th of May 2021, at 10.00 a.m. CET. The webinar’s duration will be one hour and it will be divided into three parts – introduction, Managed services description as well as presentation of other IAM solutions and Questions and Answers.

Interested companies from all industries could register for the webinar on the following webpage: https://www.eu-hub.net/english/webinar-events/, with a key word: “Managed IAM Services“. In the webinar all participants could learn more about the specific features and capabilities of Managed Services, what are the advantages and benefits of working with managed service provider and how this kind of services could contribute for the increased security, efficiency and productivity of your business. Moreover, PATECCO IAM experts will share best practices of several use cases related to implementation of solutions such as Privileged Access Management, Security Information and Event Management, Identity Governance and Intelligence and Cloud Access Control.

Before you register for the webinar, here is some more information about PATECCO:

The IAM consulting company is established in the year of 2009, in Herne, Germany. It is a privately held enterprise providing services in the areas of the development, implementation, and support of Identity & Access Management solutions. PATECCO provides value-added services to customers from different industries such as banking, insurance, chemistry, pharma and utility. Keeping long-term partnership with Microsoft and IBM supports the success for numerous international consulting projects.

As a managed service provider, PATECCO ensures a cost-effective alternative to manage the monitoring, detecting, investigating, alerting and responding to cyber threats. PATECCO managed IT solutions allow a business of any size to focus on its core competencies while leaving its day-to-day IT needs to a team of professionals that are not only proactive in managing IT services, but are also available 24/7. As a managed service provider, PATECCO offers a single point of contact, convenience, and flexibility for all of IT needs.

How Do Managed Services Help to Reinforce IT Security?

Nowadays the technology is moving at a faster pace than ever. Whilst advances in technology present a number of opportunities, they also present businesses with challenges they must manage effectively in order to remain successful and profitable. Many businesses have users with multiple computer models and operating systems, so it can be difficult to manage costs and keep people connected and productive. This is where Managed services can help. They include any information technology service and support handled by an outside firm through cloud-based software. These information technology solutions provide remote monitoring of your systems, along with proactive support, and timely managing, updating and resolving issues in real time related to selected IT systems and functions on your behalf.

Managed Services against Cyber threats

As cyber threats evolve and become more complex, many businesses recognize the opportunity to work with managed services providers that can provide a cost-effective alternative to manage the monitoring, detecting, investigating, alerting and responding to cyber threats. Managed services are able to provide security operations, information security and event management, solution implementation and integration, actionable threat intelligence, and incident response. They also ensure organizations the visibility needed to better protect their sensitive data and critical infrastructure, and the incident response solutions provide rapid response and recovery to cyber threats. Getting to cyber confidence first requires a comprehensive suite of cybersecurity offerings that integrate strategy and governance with the core capabilities needed for helping organizations become more secure, vigilant, and resilient.

6 Ways Managed Services Improve Cyber Security

  • 24/7 Monitoring

A significant way that managed services improve cyber security involves system monitoring. A reputable MSP can provide monitoring not just during business hours, but 24 hours a day, seven days a week. When using machine learning your MSP can identify unusual activity and proactively address issues even before a breach occurs.

Monitoring can include both your network and your cloud infrastructure and in this way addresses the numerous data access points. Furthermore, many providers offer automated compliance monitoring. Thanks to the privacy and security regulations affecting industries across the board, compliance monitoring can save problem situations and protects your business reputation.

  • Threat intelligence and analytics

Through MSP’s global network of threat intelligence-sharing, it is possible to proactively monitor the clients’ environments and the external threat landscape to help prevent and detect targeted cyberattacks and insider threats. Managed services are able to turn intelligence updates into actionable mitigation strategies to help the clients respond to threats relevant to their business. The global network for sharing threat intelligence and the powerful analytics resources provide organizations with the visibility they need to better protect their sensitive data and critical infrastructure.

  • Risk Assessment

Risk assessment supports the business to get an idea about its risk posture for key assets and systems, procedures, policies and controls. It also helps to assess and mitigate risks when sharing information, especially with third-party vendors. Besides, it also addresses emerging threats so that you can integrate new technology to secure the risks.

  • Vulnerability Identification and Remediation

As mentioned above, The MSP typically conducts risk assessments to determine the state of your organization’s cyber security and make recommendations. In this process they conduct vulnerability scans and penetration testing. A vulnerability scan often uses automated tools to identify weaknesses in the perimeter, places where unauthorized persons could enter the system. Penetration testing goes further by simulating an actual cyber-attack, with a skilled tester acting like a hacker to try and exploit weaknesses. Some regulations require vulnerability scans and penetration testing on a regular basis. But whether required or not, they both form an essential part of a comprehensive cyber security strategy.

  • Endpoint Protection

Endpoint protection ensures that all access points on the business’ network are secure. Without this element, it is practically difficult to know whether a network has been somehow breached. Having in mind that today’s businesses are widely implementing Bring Your Own Device (BYOD) policy to enable employees work from anywhere at any time, the Managed Services provide the assurance that the organization’s network is same irrespective of how its employees work.

  • Incident response

Sometimes, despite all attempts at prevention and detection, the inevitable could happen. Managed Services could help the clients to proactively respond to and recover from a sustained attack. The incident response capabilities support clients in the immediate, mid-term, and long-term aftermath of an incident, including crisis management, technical investigation, security remediation, cyber-risk program enhancement, and regulatory compliance.

With security breaches that are critically increasing day by day, businesses are looking for solutions that are more effective and cost-efficient. If you don’t know who to choose as your MSP, contact PATECCO today to understand more of what we have accomplished in terms of handling managed services benefits and risks. We are a reliable MSP and we commit to helping you achieve all the IT services mentioned above and even more.

PATECCO managed IT solutions allow a business of any size to focus on its core competencies while leaving its day-to-day IT needs to a team of professionals that are not only proactive in managing your IT services, but are also available 24/7 for your peace of mind. As your managed service provider, PATECCO offers a single point of contact, convenience and flexibility for all of your IT needs.

How Does Identity Governance Achieve Security and Compliance?

Nowadays, in the era of Digital Transformation, more and more organizations and people are using the new technologies of smart devices, cloud computing and social media to shop, to buy or deliver services and for other commercial purposes. In this hyperconnected world, Electronic Identities (IDs) provide the opportunity for organizations to know their customers and at the same time to secure information systems and sensitive data. Both objectives are successfully achieved by Identity Governance process.

Simply explained, Identity governance is a policy-based centralized orchestration of user identity management and access control. Identity governance helps support enterprise IT security and regulatory compliance. Organisations are facing rising demands and compliance regulations while managing the access and support of many devices and systems that carry critical data.

What Does Identity Governance Perform?

Identity Governance and Intelligence solutions help companies to create and manage user accounts and access rights for individual users within the enterprise. In this way the companies conveniently manage user provisioning, password management, access governance and identity repositories. IGI Solutions also enable companies to make sure that they take appropriate actions to meet compliance challenges. They help conduct a more accessible and useful review process with a reporting ability to meet significant government and industry rules. Besides, IGI solutions perform a great visual approach, allowing the users to witness privileges and certifications in a user friendly and graphical display.

  • Role Management

Key capability of identity governance and intelligence solution is role management, which is deeply tied into the Principle of Least Privileges. This Principle states employees and users only have the minimum permissions necessary to fulfil their job functions. Furthermore, role management allows your IT security team to monitor permissions and privileges on each user’s account. With the availability of the visibility, the security team can remove any unnecessary permissions they detect.

  • Centralized Access Requests

Without centralizing the access requests, the IT security team must handle each request manually, which is hard and time-consuming process. To avoid such situation, identity governance solution should include a centralization portal for all access requests. This portal helps you to connect all of the applications in your IT environment. Besides, the administrators can monitor the usage of the special permissions and can submit and process access requests, approvals, and denials in more efficient manner.

  • Identity Lifecycle Management

In identity and access management, Identity Lifecycle Management refers to the processes utilized in creating, managing, and removing a user identity from your network. Without the right permissions, your employees cannot perform their jobs properly and providing the wrong permissions could create cybersecurity issues. That is why Identity Governance solutions can help your IT security team onboard and offboard permissions efficiently and with securely.

  • Managed Services

It is crucial for the security of the enterprise to protect and monitor the permissions of your third party-users and applications, vendors, customers, and partners. Each of these identities requires identity governance to operate securely. In case your enterprise’s IT security team is not able to handle governing all of these users, your IGI solution provider can help you manage these tasks remotely. By the help of managed services, it is possible to provide 24/7 identity monitoring and to process the role management, compliance reporting, and access request features.

What Challenges Does Identity Governance Address?

  • Compliance

With regulations like the GDPR, SOX, and HIPAA industries pay attention to access issues more than ever. The security measure to limit and to monitor the access to those that need it, is not enough. Now it is becoming critical to stay in compliance with these regulations, as well.

IGI solutions not only ensure that access to sensitive information (such as financial data) is strictly controlled, but they also enable organizations to prove they are taking these actions. Enterprises can receive audit requests at any time. A good IGI solution makes the required periodic review and attestation of access business friendly, effective, and comes with built-in reporting capabilities to meet the government and industry regulations. Taking a visual approach to the data makes the whole process more accurate and easier to deploy to the business.

  • Risk Management

IGI solutions reduce the exposure of sensitive data by limiting and guarding access to information. They enable a robust approach to managing and governing access by focusing on three aspects of access:

First, they practice the principle of least privilege, eliminating excess privileges and granting access to only those who need it in order to do their jobs. Secondly, they terminate “orphaned” accounts as quickly as possible. These accounts that are no longer being used (because of an employee dismissal or some other reason) are perfect targets for cyber criminals aiming to breach the environment. Finally, IGI solutions monitor for segregation of duty (SoD) violations. This critical risk management concept dictates that no single individual should be able to complete a task, creating a built-in system of checks and balances.

  • Business Changes

Companies develop and change constantly and IGI solution makes these changes more efficient and less risky. IGI solutions provision access based on roles, and not on individual accounts, that’s why the strategy of Role Based Access Control (RBAC) works equally well for small changes (like individual promotions or transfers) and large changes (like mergers, acquisitions, and corporate reorganizations). IGA solutions efficiently shorten the timeline for executing bulk additions or transitions of user accounts by automating and streamlining provisioning and approvals.

Considered as a part of Identity and Access Management (IAM), Identity Governance offers organizations increased visibility of identities and access privileges of users. That gives them the opportunity to effectively manage who has access to what systems and when. Identity governance empowers the business to do more with less, meet increasing audit demands, and make the companies more secure, while enabling them to develop at the same time.

How Cloud Access Control Enhances Security in Financial Sector

When talking about cloud computing, we usually relate it to the use of online software tools or mobile apps for interacting with Internet resources. It is no longer necessary to keep a physical server or local storage source on site, because when the client has access to the internet, the software for running a particular program can be accessed.

The popularity of cloud access control is growing and now a lot of businesses are planning or already use cloud access control systems, also known as managed access control. That gives the great opportunity for employees to store and retrieve files on remote servers via the internet and at the same time provides compatibility, convenience, flexibility and higher security.

For strengthening security in the corporate information systems of companies from financial sector, PATECCO developed effective cloud access control tools. Delivering greater flexibility whilst maintaining the levels of security essential to their business, is only one of the numerous advantages provided by PATECCO. Highly scalable, access control allows banking to react to meet increasing demands and is simple to administer. Given the flexibility of the cloud, it could help with data mining and provide richer data analytics insights.

Cloud access control provides secure deployment options that can help banks develop new customer experiences, enable effective collaboration and improve speed to market – all while increasing IT efficiency. As a technology, PATECCO cloud systems can help banks and financial institutions transform themselves into a digital business, enhance their enterprise security and compliance, and introduce automation for improved efficiency. Cloud computing helps banks reduce fixed IT costs, as well. The expenses can be shift from capital to operational costs. With cloud applications, there is no longer necessary to build hardware, it just pays for what it needs when it needs it.

PATECCO Cloud Access tools allows banks to provide a more consistent, digital experience across all customer-facing channels. It fundamentally changes the way in which customers interact with data and their banking providers. By extending cloud services to clients, banks can empower clients to update data and documentation to support ongoing maintenance of an accurate client risk profile for lifecycle compliance. This not only delivers greater efficiency for the bank and more convenience for the customer, but also builds up a deeper, closer relationship between them through enhanced digital communications.

By using cloud computing, banks can create a flexible and agile banking environment that can quickly respond to new business needs. A lot of examples prove that banks, trusting cloud systems, are better in responding to economic uncertainties, interconnected global financial systems and demanding customers. PATECCO even makes it easier for the employees to access risk and analytics reports while they are on the move. They see the benefits of accessing the internet on their smart phones and tablets, instantly even in remote locations.