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The ChallengeFinansbank faced daunting IT security andcompliance challenges associated with its highlymanual, time consuming approach to managingprivileged passwords to its core banking systems.There was one dedicated password for eachserver and each device in the network. Allpasswords were stored in approximately 200separate paper envelopes in a physical vault.If anyone needed access to an application, serveror necessary system, password requests wereprocessed through a service center and issuedby hand by the IT team. If there was ever a servercrash or the need for a password to be accessedimmediately, as in a break-glass scenario, it couldtake more than 30 minutes just to get the rightenvelope. Additionally, password inventory wasstored in an Excel file, audit reports were limited,and the process for manually resettingpasswords after each use wasn’t efficient.“Our manually-intensive approach to passwordmanagement was impeding the bank’s ability toscale operationally, it was difficult to managepower users and meeting audit and compliancerequirements put a serious strain on resources,”said Burak Öztürk, Finansbank. “We simplyneeded to make this process smoother andmore efficient.”
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