Case Study | 2 min. read
RSwitch is the National E-payment switch of Rwanda and the driver of the smart cash brand enabling electronic payment settlements, interoperability, and other financial solutions in Rwanda.
The company was established in 2003 with a vision to run Rwanda’s electronic payment system and has expanded to serve as a financial interoperable solution company over the years.
Amongst the many financial solutions offered by RSwitch, Transaction Processing is their forte. Its processing system coordinates the flow of various transactions between financial institutions, merchants, and customers, with a primary focus on interoperability.
The transaction processing covers cash withdrawal, balance inquiries transfers, and clearing, reducing the cost of payment services to financial institutions and, ultimately, customers.
Industry
Finance
Objective
The Government of Rwanda’s Vision 2050 aims to achieve the status of an upper-middle-income country by 2035 and a high-income country by 2050. At a high level, the vision emphasizes improved quality of life for all Rwandans with universal access to financial services. Achieving these goals requires a robust and inclusive financial sector, including a safe, reliable, and efficient payment system.
Developing an interoperable payment system requires the set-up of an interoperable scheme. Keeping that in mind, the government of Rwanda introduced the Rwanda National Digital Payment System (RNDPS) strategy that defines the overarching standards for interoperability. It includes (but is not limited to) the business rules, technical standards, revenue splits between participants, common branding, and regulations around disputes and customer protection.
RSwitch aims to align its goals with the RNDPS vision as a business.
Challenge
Financial organizations have complicated security infrastructure that requires coordination between multiple organizations, people, and processes. As financial services come into play, it becomes even more complex.
In order to simplify collaboration amaong entities, many companies rely on external service providers for managing various financial services. The use of privileged accounts to accomplish tasks in these scenarios is essential. Although these accounts are necessary, they can present a huge vulnerability in security if not set up or utilized correctly.
Solution
Sectona PAM offers a diverse feature set with fast deployment and lightweight architecture. With the threat landscape constantly evolving, organizations must have a flexible and easy-to-use solution that can adapt to changes in the environment.
Upon successful deployment of Sectona PAM, RSwitch can now efficiently manage and monitor privileged users inside the company as well as those who need privileged access from external entities.
Sectona implements the best PAM practices, enabling us to build a solid foundation for robust privileged access governance and control across our IT infrastructure.
CISO
RSwitch
Benefits
PAM is a must-have for companies carrying out transaction processing in order to stay as secure and compliant as possible. With the Sectona PAM, organizations acquire advanced access, session, and password manager that all work in tandem to ensure that they are protected from both internal and external threats while also easily meeting compliance regulations.
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