Customer trust and reputation are critical factors in the financial industry. Without robust security and management of machine identities, financial institutions’ ability to keep applications and services online is at risk, which also threatens to compromise an otherwise seamless customer experience.
At Venafi, use these principles to inspire our innovation. It is why the top financial services companies worldwide rely on Venafi to safeguard their digital transformation investments. In this blog, I’d like to show how our latest innovation, Venafi’s Control Plane for Machine Identities, accelerates digital transformation and eliminates security incidents and revenue stream disruptions caused by machine identity security failures.
![CIO Study: Financial Services Organizations Face Escalating Certificate Outages with Massive Growth in Machine Identities](/_next/image/?url=https%3A%2F%2Fcdn.venafi.com%2F994513b8-133f-0003-9fb3-9cbe4b61ffeb%2Fb3d6de52-5f74-4ade-9d59-203d72ffd748%2FThumbnail_Venafi_CIOStudy_FinServe%2520copy.jpg%3Fw%3D650%26h%3D400%26fm%3Dwebp%26q%3D50%26fit%3Dcrop&w=1920&q=75&dpl=dpl_9nMnPWFgUR3MNGqVKD9tfneGCtKt)
CIO Study: Financial Services Organizations Face Escalating Certificate Outages with Massive Growth in Machine Identities
Venafi Control Plane provides enterprises with the observability, consistency, reliability, and freedom of choice for financial firms to achieve their “Digital First” strategies. The Control Plane allows financial firms to:
1. Keeping commerce flowing by preventing service disruptions
We know financial services companies need to ensure the continuous availability of critical systems. Venafi’s Machine identity security platform prevents service disruptions managing the entire certificate lifecycle from issuance to renewal to revocation. Venafi’s innovation, expertise, and no outage guarantee keep machine identities secure and up-to-date, eliminating the risk of downtime due to certificate outages.
2. Enabling customer access anytime, through security and trust
Venafi ensures that only trusted and authorized machines are operating within the firm’s distributed infrastructure, ensuring the integrity of the financial firm’s digital anywhere assets and transactions. By verifying the authenticity of machines and ensuring that communication channels are secure and unaltered Venafi allow financial services customers to access their finances anytime and anywhere.
3. Decreasing costs and increasing productivity through automation and self-service
Venafi’s platform and ecosystem of partners reduce the cost of certificates dramatically by automating the certificate lifecycle—in some cases up to 98%--by automating the entire end-to-end certificate lifecycle. This increase in efficiencies—such as self-service for DevOps teams—that have freed up thousands of hours, which financial firms have reinvested in their core competencies and preparing for the future of quantum computing.
4. Protecting digital investment by safeguarding cloud and DevOps environments
Financial services companies are increasingly adopting cloud services and DevOps practices for agility and scalability. Venafi has completely rearchitected its platform to be cloud native in support of the financial industry’s digital transformation. Venafi’s unified control plane is essential in securing these dynamic environments, where numerous machines, Kubernetes clusters, and services interact continuously to provide globally connected commerce.
5. Reducing risk by guarding against cyberattacks and financial fraud and verifying regulatory and policy compliance
Venafi prevents unauthorized access, man-in-the-middle attacks, and other security breaches that could compromise sensitive financial information or disrupt services. Machine identity security can help detect and prevent fraudulent activities by accurately identifying machines involved in transactions, thereby reducing the risk of spoofing or impersonation attacks. Venafi’s policy engine allows companies to comply with various industry standards and regulations, which mandate the protection of networks and cloud infrastructures through proper identity and access controls.We know financial services companies need to ensure the continuous availability of critical systems. Venafi’s Machine identity security platform prevents service disruptions managing the entire certificate lifecycle from issuance to renewal to revocation—Venafi’s innovation, expertise, and no outage guarantee up-to-date and secure environments eliminating the risk of downtime due to certificate outages.
Machine identity security for financial services
At Venafi, we work with financial institutions to ensure their digital transformation is safe, secure, and uninterrupted. We protect against outages, cybersecurity risks, and regulatory noncompliance caused by machine identity security failures. We do this through continuous innovation. Learn how the Venafi Control Plane for Machine Identity Security can help accelerate your digital transformation while instilling customer trust and protecting your reputation by asking to speak to one of our experts.
Why Do You Need a Control Plane for Machine Identities?
![Summit 2024 Teaser Photo](/_next/image/?url=https%3A%2F%2Fcdn.venafi.com%2F994513b8-133f-0003-9fb3-9cbe4b61ffeb%2F537b500f-ee2a-44ba-82b4-d7be0b23506c%2Fsummit-promo-graphic-2.jpg&w=3840&q=75&dpl=dpl_9nMnPWFgUR3MNGqVKD9tfneGCtKt)
Machine Identity Security Summit 2024
Help us forge a new era of cybersecurity
☕ We're spilling all the machine identiTEA Oct. 1-3, but these insights are too valuable to just toss in the harbor! Browse the agenda and register now.