Cyber-Ark Signs Huge banking Institution

By Alan Harten

Software Company Cyber-Ark, who work in the areas of Privileged Identity Management (PIM), Sensitive Information Management and Digital Vault solutions, have been hired by an unnamed “influential global financial institution” to provide their PIM security solution.

According to the company the ink is already dry on what they claim to be a seven figure contract.

Not surprisingly in today’s financial climate the company believes this to be a highly significant large deal.

Cyber-Ark believes that this deal now makes them suppliers to well over a third of the Fortune 50 companies which have selected the same solution.

The PIM is capable of tracking all the data that is accessed and who accessed it and what time and where from.

The company believes that more than 70% of breaches within the system are caused by internal users, not outside entities who either accidentally or deliberately misuse their access status.

This is possibly the most effective way to track just who is looking at what and avoiding security breaches that lead to leaks of information.

This centralised solution offers banks the possibility to manage and secure their information and keep track of every single activity associated with privileged account access.