CyberArk’s State-of-the-Art Solutions Selected to Protect Clearstream’s IT Infrastructure
Customer Company Size
Large Corporate
Region
- Europe
Country
- Germany
Product
- CyberArk Privileged Account Security Solution
- CyberArk Inter-Business Vault (IBV)
Tech Stack
- Privileged Account Management
- Password Management
- Data Encryption
- Authentication
Implementation Scale
- Enterprise-wide Deployment
Impact Metrics
- Customer Satisfaction
- Digital Expertise
- Innovation Output
Technology Category
- Cybersecurity & Privacy - Database Security
- Cybersecurity & Privacy - Identity & Authentication Management
- Cybersecurity & Privacy - Network Security
Applicable Industries
- Finance & Insurance
Applicable Functions
- Business Operation
Use Cases
- Regulatory Compliance Monitoring
- Remote Asset Management
Services
- Software Design & Engineering Services
- System Integration
About The Customer
Clearstream is a leading European supplier of post-trading services. A wholly owned subsidiary of Deutsche Börse Group, Clearstream ensures that cash and securities are promptly and effectively delivered between trading parties. The firm also manages, safekeeps and administers the securities that it holds on behalf of its customers. Over 300,000 domestic and internationally traded bonds, equities and investment funds are currently deposited with Clearstream. Clearstream offers one of the most comprehensive international securities available, settling more than 250,000 transactions for its 2,500 customers across 110 countries every day. Operating in a highly competitive industry, Clearstream strives to continue to stand out as an innovative firm, while providing an optimal and secure service for its customers.
The Challenge
The information that is handled by Clearstream on a daily basis is extremely sensitive. In order to address security concerns surrounding this, Clearstream initially needed to automate its manual administrator password management process to control access to privileged accounts based on pre-defined security policies. As the connection and transfer of data was regularly password protected, Clearstream required a more mature, professional solution to manage and control its passwords to ensure that corporate and customer information was appropriately protected. Strong authentication, information integrity and encryption were also essential so that only the right people had access to the right information and that this access could be adequately tracked, logged and monitored. In order to satisfy auditors as regulations continue to evolve, Clearstream sought a forward thinking solution that offered a clear overview of administrator activity and that could facilitate secure storage of this information in logs. Due to auditors having to adhere to extremely strict and tight timelines, Clearstream needed a solution that could quickly and accurately deliver the information required. This is a constant regulatory requirement and Clearstream wanted to work with a technology partner that could continue to evolve with the company to meet these needs.
The Solution
Having conducted a review of the market and solutions available, Clearstream selected CyberArk. Its solutions matched Clearstream’s technological needs and its state-of-the-art mentality, while being easy to manage and secure. Over the years, Clearstream has continued to expand its use of the CyberArk solutions across the IT department in order to secure and monitor privileged accounts, and for the secure exchange of data internally and with external partners. When Clearstream first started working with CyberArk in 2006, it implemented the CyberArk Privileged Account Security Solution, which enables Clearstream to manage, secure and audit the entire lifecycle of shared and privileged accounts. Clearstream already had in-house compliance applications in place and needed CyberArk’s privileged account management solution to work hand-in-hand with the existing business applications. The CyberArk solution allows Clearstream to trace and correlate all actions performed by privileged users and ensure that they cannot be tampered with at any stage in order to meet audit and regulatory requirements. As Clearstream handles the exchange of highly sensitive information, both internally and with external parties, CyberArk’s Inter-Business Vault (IBV) has also been recently implemented, in order for the company to securely exchange password protected and encrypted data with select customers, partners and internal users. Clearstream’s entire testing and production infrastructure is now protected by CyberArk.
Operational Impact
Quantitative Benefit
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