Coronavirus Impact on Banks ‐ The Top Ten List

Read the blog by Mr. Sanjiv Anand, Chairman, IBS Intelligence.

The Black Swan Opportunity |Get your bank digital ready.

IBSI Special 5 Digital Report Package with Special Offer. Subscribe now

IBS Journal: The iconic monthly FinTech magazine

March 2020 issue out now! Subscribe now

India FinTech Report 2020

Insights into the historical and projected market size of key FinTech categories. Subscribe now

Time for banks to deploy Zero Trust to keep safe in the cloud

Galeal Zino, CEO of networking security vendor NetFoundry

A Zero Trust security model, which imposes strict access controls and does not trust anyone by default, is the best way for organisations like banks to secure themselves in the multi-cloud era, an expert has claimed.

Traditional security postures have been mainly based on perimeters, where traffic inside an enterprise network was trustworthy, but traffic outside the perimeter was not, pointed out Galeal Zino, CEO of networking security vendor NetFoundry: “However, this is no longer a secure or agile enough posture,” he added. “The premise of Zero Trust is that an organization can no longer risk automatically trusting data based on its location, and instead must implement a role-based access control [RBAC] method which enforces least privilege access application connections. Businesses know they need the security of a Zero Trust architecture, but the problem organizations are grappling with is how to achieve Zero Trust application connections across wide area service meshes comprised of multi-cloud, hybrid cloud, IoT, B2B and connected supply chains?”

Networking methods such as MPLS WAN, SD-WAN and VPN, he said, operate at a coarser level than least privilege access with fine-grained RBAC, and often require bespoke solutions for different environments without the ability to automate them and integrate them with the apps.

Related Posts