How Sectona secures the M1Xchange platform that facilitates financing for 1800+ enterprises
Case Study | 2 min. read
MYND Online National Exchange (popularly known as M1Xchange) founded in 2017, is an online exchange for Trade Receivables Discounting System “TReDS” set up under the approval of Reserve Bank of India (RBI) to facilitate discounting of invoices and bills of exchange on a PAN India basis. Catering mostly to Micro, Small & Medium Enterprises “MSME” (“the Seller”), large corporates including PSUs and Govt. Departments (“the Buyer”) and Banks/NBFCs (“the Financier”), M1 aims on providing solution-based approach with expert innovation & flexibility towards financing solutions to stakeholders.
The company started with a robust architecture but quickly approached an enterprise scale and needed to implement an access security framework in place. Considering the nature of business, there is large amount of sensitive data that is stored on their databases, primarily MS SQL databases. Protecting the access to critical systems including Windows, Unix, and Databases especially is of utmost importance for the management. While looking for a solution that can securely access seamlessly across this mix of infrastructure, M1Xchange came across Sectona PAM and decided to evaluate it.
- Managing and securing privileged access to critical database systems
- Controlling and monitoring managed service provider access to privileged accounts
- Logging and audit of privileged user activities to a mixed range of IT systems
After thorough evaluation, the exchange zeroed in on Sectona PAM for its hybrid Privileged Access Management approach that could achieve isolation of critical database sessions while also comprehensively monitoring critical user access (external and internal users) to a mixed range of IT systems.
- Isolated and secure access to critical database systems via Jump Server
- Risk-scoring based session logs for improved visibility and governance
In Sectona, we got a solution that helps us have full control of user access across our IT infrastructure. We plan to leverage Sectona PAM capabilities to a broader pool of network devices and hosting vendor access
Sectona helps M1Xchange achieve enhanced security with an isolated and controlled access to sensitive data stored in critical database systems. Furthermore, it provides strengthened governance with unbiased monitoring of user access regardless of whether user accesses via LAN or VPN.