Responding to Business Issues | Financial Risk Industry

The Client: Premium Global Financial and Risk Management Services provider

A Financial Services provider reached out to Avancer as it had to employ IAM Technology in order to respond to critical business issues. The client, a premier global professional services firm and world’s largest Futures Commission Merchants (FCM), providing advice and solutions in risk, strategy and human capital. Given the scale of business and promptness required for operations, the client had to be on the top of responding to critical business issues and risks. With a presence in 15 countries, a spread of 3000 plus employee in the Financial Industry, the client understood that integrating Identity Management technology a crucial and should observe strategic focus while implementation.
Broadly following issues were faced by the client for which Avancer’s intervention was sought were:

  • Auditing Access and Adhering to Industry Regulations. Any entity in financial industry cannot get away from regulations. Fintech capabilities are to arm an organization, however keeping a check on access cannot be ignored. Furthermore regulations in the financial sector aim at ensuring secure financial transactions, protecting customer information, limiting access to sensitive information and more. IAM Technology has been a long standing need for a secure functioning of the client as auditing was a major concern in order to maintain compliance with existing regulations.
  • Surpassing Manual Access Governance. Since all approvals for access to various applications was done manually, IT administration was always occupied with largely inefficient and time consuming task of solving access related problems. Access Governance has been much required, along with a automated framework that negates manual de-provisioning of terminated employees, access to cloud based applications, password management to be replaced with automation, on-boarding, access grants, etc.

Avancer’s Intervention was sought to fix the business issues by employing IAM technology

Avancer proposed following set of solutions to help the client deal with existing set of challenges and achieve robust automation:

  • Avancer provided a solution to automate the functionality by implementing complex business rules, using Oracle Identity Manager.
  • Developed automated processes that would revoke access to sensitive applications for employees on leave and re-enable access when they were back
  • Created and coded access policies for automatic removal of users from Active Directory security groups upon termination
  • Custom developed an application connector (integrator) to maintain data synchronization between the trusted source (Workday) and the various target applications
  • Implemented out-of-the-box connectors solution to AD, Exchange

End Results

After the implementation of solutions and services the client achieved following results:

  • Manual Access Governance processes were converted into an Automated, self sustained solution
  • Reduced the probability of manual errors by automating through SOA workflows
  • Setting up Audit compliance – Business Intelligence Publisher reports
  • Features such as password reset and automatic provisioning
  • Automatic block of access on termination by enforcing Corporate Access Governance policies

Through this project, Avancer brought in its expertise in IAM, Big Data management, IT Security. It helped the client in dealing with critical businesses issues, and stay on top of fin-tech based solutions offerings.

Identity & Access Governance Solution

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