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93 year old Dhanlaxmi Bank upholds mission of innovation and customer satisfaction with Sectona

Case Study  |  2 min. read

About Dhanlaxmi Bank


Industry Banking

 

Dhanlaxmi Bank Ltd. was incorporated in 1927 at Thrissur, Kerala by a group of ambitious and enterprising entrepreneurs. It is due to bank’s strong belief in the need to seek innovation, deliver best services and demonstrate responsibility, that the bank has grown from strength to strength over the year – be it in the number of customers, the scale of business, the breadth of product offerings, the banking experience. With more than 628 touch points across India, primary focus of the bank has always been on customizing services and personalizing relations.

Challenge


Dhanlaxmi Bank strives to uphold its mission of being an innovative bank working towards maximizing customer satisfaction and maintain high standards across its 300 branches. To achieve this, the bank leverages technology and keeps itself abreast with the digital banking age. Aligning with this calls for a modern security approach, especially to protect what matters the most – privileged accounts.

Dhanlaxmi bank runs on a complex infrastructure of legacy systems and new supported by a mix of internal and external service provider teams. Privileged password and access management has been a known risk in IT Risk function and well acknowledged by senior management staff. It was common practice for system administrators to employ self-managed privileged password governance. Moreover, security teams had limited insights into privileged activities. With growing pressure of more applications, digital channels and internet applications, the legacy approach of managing privileges offered limited controls and visibility.

Identifying the gap, the team summarized key objectives from PAM:

  • Strengthening access security posture of IT users
  • Vaulting and automated governance of credentials in a robust unexposed vault for minimizing manual password change processes
  • Achieving compliance with RBI mandated security guidelines

Solution


Dhanlaxmi Bank Ltd not just met all their objectives with Sectona but found more value driving out of using the solution. Sectona provides an automation powered Privileged Access Management that is capable of securing privileged activities and also enhancing visibility into privileged activities across the entire range of critical IT infrastructure. In addition, privileged task automation capabilities of the solution helped bank minimize privileged access where not necessary and reduced burden of executing L1 jobs in a simpler and more secure way. Furthermore, risk-based intelligence of each privileged session optimized review and audit capabilities for the bank by 100%.

Specific objectives met include:

  • IT security team of the bank able to track and manage privileged passwords easily optimizing productivity
  • Enhanced security and built-in replication to minimize downtime with an embedded, unexposed and encrypted vault
  • Comprehensive user session logs for forensics and audit with risk intelligence reports for achieving compliance

Benefits


Dhanlaxmi Bank Ltd has taken the right steps in strengthening their core security posture thereby ensuring bank is well safeguarded to scale with the digital banking age. This puts the bank on the pedestal of innovating new age banking products suited to customer requirements without the need to worry about the security of the technology backing it. Moreover, bank upholds its mission of maximizing customer satisfaction while adhering to RBI mandated security guidelines in doing so.

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We wanted a solution that could work well with our system administrators and one that could adapt to our IT operations. Flexibility in deployment, robust and secure architecture and simplified licensing are among the key factors that we chose Sectona

Ranjith P, Chief Manager,
Information Security Group