The “Evidence point” of the Investment Bank Berlin (IBB) did not have an easy job in the past. The responsible employees work in it, which regularly checks all IT authorizations of the 850 employees of the financial service provider. It is thus jointly responsible for ensuring that the bank adheres to all compliance requirements. In view of increasing regulations in the financial sector, a manual check is time-consuming and error-prone. Especially because many of IBB’s IT systems were not previously connected to a central identity access management (IAM) system.
Managers are often unclear about what is meant by authorizations in detail. Proper and regular recertification, as required by MaRisk (Minimum Requirements for Risk Management), thus becomes difficult. Therefore, a new IAM system was sought in a tender. This was prompted by demands from the auditing company for a daily overview of all authorizations as part of a monitoring process.
In this context, the bank also wanted to introduce a uniform recertification solution.
Implementation: Faster than expected
Beta Systems won the tender “because they have specialized in the banking sector for a long time,” says Percy Frahm, Head of Department Technical Infrastructure at Investment Bank Berlin. “The provider brought answers to all the questions we were asking about IAM, including from the auditors’ point of view.” The fact that a recertification portal is part of the suite and that you don’t have to program this yourself and that Beta provides ready-made role profiles were further important plus points. At just over half a year, the implementation of the solution up to going live was extremely fast.
With the provisioning module ‘GARANCY Identity Manager‘, IBB can centrally administer and control all user authorization information (identities, groups, roles) in all IT systems. The recertification of access rights takes place via the web interface of the ‘GARANCY Recertification Center’. Here, the assigned rights and roles of the employees are checked by the defined responsible persons and automatically withdrawn in case of a negative decision. “This gives us a ready-made solution for identity access management that other manufacturers could not offer us in this form,” says Eike Thore Schmaida about the decision in favor of Beta Systems.
Learn more about the methodology of IAM implementation here
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Year founded: 1924
Employees (2016): 620
Sector: Financial services
In the face of increasing regulations in the financial sector, the process of reviewing, granting, renewing and revoking access rights to the various IT systems at IBB became a time-consuming and error-prone affair. time-consuming and error-prone affair. Therefore, the bank wanted to switch from manual to fully automated identity access management.
With the introduction of the GARANCY Suite, IBB no longer has to rely on receiving feedback from various sources. Instead, the software independently retrieves the data from the connected systems and automatically prompts the managers for recertification at intervals to be defined.