CyberArk Software Ltd. announced that IIFL Group has chosen the CyberArk Identity Security Platform to implement least privilege across vulnerable, high-risk developer endpoints for greater threat protection, improved user experience and simplified compliance reporting. The IIFL Group employs over 30,000 people and caters to more than seven million customers through various financial products and services. It comprises IIFL Finance, IIFL Home Finance, IIFL Securities, Livlong Insurance Brokers, 5Paisa and Livlong 365 Protection & Wellness Services.

Before adopting CyberArk, the Group?s cybersecurity teams grappled with significant issues related to vulnerable, highly privileged developer endpoints and inefficient compliance processes. The risk of compromised identities due to developers holding standing administrative rights posed threats such as data loss, vulnerability injection and malicious software installation. In addition, cumbersome compliance practices strained resources and risked regulatory compliance, adherence to which is crucial for financial institutions to maintain market share and customer trust.

IIFL Group needed an identity security solution for developers that was easy to administer but did not disrupt workflow. The Group selected the CyberArk Identity Security Platform to manage and secure developer access to sensitive data and applications, helping prevent unauthorized software installations and protect its development platform against malware. CyberArk applies intelligent privilege controls to provide just in time access.

In addition, it secures stored credentials across all operating systems and third-party applications, while its reporting and analytics capabilities simplify compliance reporting demands.