by Rebeca | Oct 8, 2024 | News, soffid
In its latest 2024 Market Guide for Identity Governance and Administration (IGA), Gartner once again recognized Soffid IAM as one of the leading identity governance solutions. This recognition places Soffid as the only Spanish company included in the guide, reaffirming its commitment to innovation and excellence in the Identity and Access Management (IAM) space.
Why Did Gartner Select Soffid IAM?
The Gartner Market Guide highlights Soffid IAM’s advanced capabilities across multiple areas, particularly its ability to converge critical IAM solutions into one platform. This includes Access Management (AM), Single Sign-On (SSO), Identity Governance and Administration (IGA), Identity Relationship Control (IRC), and Privileged Access Management (PAM). This convergence not only reduces operational complexity but also empowers organizations to manage identities and access more efficiently while maintaining strong security standards.
- Converged and Scalable Platform
One of the main reasons Soffid IAM stands out in Gartner’s report is its focus on IAM convergence. By integrating IGA, PAM, and AM into a single, unified solution, Soffid provides organizations with a comprehensive approach to managing both identity governance and privileged access, eliminating the need for multiple disconnected tools.
This convergence is also supported by a scalable model that allows businesses to manage anywhere from a few hundred to millions of identities without compromising performance or security.
- Support for SaaS and On-Premise Deployments
As digital transformation accelerates, many organizations adopt hybrid environments that combine cloud solutions with on-premise infrastructures. Soffid IAM is perfectly suited for these hybrid environments, offering support for both SaaS and on-premise deployments, giving organizations the flexibility to manage identities across any infrastructure.
Soffid’s focus on identity orchestration also ensures seamless integration into existing systems through out-of-the-box (OOTB) connectors, allowing for quick, disruption-free implementations.
- Advanced Features for Complex Environments
Soffid IAM provides a range of advanced features that enable organizations to meet even the most stringent security requirements. These capabilities include:
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- Identity registration for non-employees, which is critical for organizations that work with contractors or temporary staff.
- Segregation of Duties (SOD) to ensure that roles and responsibilities are assigned without conflicts within the organization.
- CIEM (Cloud Infrastructure Entitlement Management) to manage access rights in cloud environments.
- Cost-Effective and Efficient Solution
Another point that Gartner highlights in its report is the cost-effectiveness of Soffid IAM. By offering an all-in-one platform, organizations can reduce the costs associated with managing and maintaining multiple IAM tools. This results in a solution that is both cost-efficient and operationally effective, without compromising on security or performance.
Soffid IAM as a Future-Proof Solution
Soffid IAM’s recognition in the Gartner 2024 Market Guide reinforces its position as a leader in Identity Governance and Administration (IGA). By providing a comprehensive, scalable, and cost-effective solution, Soffid helps organizations manage their identities and access securely and efficiently, while meeting the highest regulatory standards.
Want to learn how Soffid IAM can transform identity governance for your organization? Request a personalized demo or contact us for more information.
by Rebeca | Oct 2, 2024 | soffid
In today’s regulatory landscape, ensuring compliance is not just a legal obligation, it’s a critical business priority. For industries managing sensitive data—such as finance, healthcare, and telecommunications—failing to comply with standards like GDPR, HIPAA, and ISO27001 can result in significant fines, reputational damage, and operational disruption.
At the heart of regulatory compliance lies Identity and Access Management (IAM), a key factor in securing user identities and controlling access to sensitive information. The complexity of compliance is often exacerbated by disparate systems and scattered data sources. However, this is where converged IAM platforms can make a difference by streamlining both security management and the auditing process.
The Challenge of Compliance in a Fragmented Environment
Compliance requires a full view of who has access to what data, how this access is granted, and whether it aligns with regulatory requirements. In many organizations, legacy systems, cloud environments, and third-party applications create silos that make it difficult to track identity lifecycles consistently. This fragmentation poses challenges in:
- Auditing Access: When user identities are managed across various systems, tracking and auditing access to data becomes a time-consuming and error-prone process.
- Reporting: Compliance audits require detailed reporting on access control, security policies, and the state of identities within an organization. Gathering this information from multiple disconnected sources complicates and delays audit readiness.
- Policy Enforcement: Enforcing consistent security policies across environments is challenging when each system has its own access management protocols.
How Converged IAM Simplifies Compliance
By integrating Identity Governance and Administration (IGA), Privileged Access Management (PAM), and Access Management into a single, unified platform, converged IAM solutions such as Soffid offer a streamlined approach to managing identities and meeting compliance requirements. Here’s how:
1. Unified Identity Governance
A converged IAM platform provides a single source of truth for all identity-related activities. This means that every identity—whether internal or external—can be tracked and managed from a central platform. With centralized visibility, organizations can easily generate reports on user access, permissions, and changes made to critical systems.
For compliance audits, this unified governance simplifies the process of proving that only authorized individuals have access to sensitive data, ensuring that the principle of least privilege is maintained across the organization.
2. Automated Reporting and Continuous Monitoring
Manual reporting can slow down compliance audits and increase the risk of human error. A converged IAM solution automates the collection of audit trails, providing real-time insights into who accessed what, when, and how.
With continuous monitoring and automated reporting, organizations can meet the documentation and reporting requirements of regulations such as GDPR and HIPAA more efficiently. Instead of scrambling to gather data at the last minute, auditors can access detailed, up-to-date reports with the click of a button.
3. Consistent Policy Enforcement
Compliance is not just about monitoring access—it’s also about enforcing consistent security policies across the organization. A converged IAM platform applies security policies uniformly, ensuring that every user’s access is governed by the same rules, regardless of the environment (on-premise, cloud, or hybrid).
For example, enforcing multi-factor authentication (MFA) for sensitive data access or automatically revoking permissions when an employee leaves the company can be managed seamlessly from a single platform, significantly reducing security gaps.
4. Enhanced Role-Based and Attribute-Based Access Control
Role-Based Access Control (RBAC) and Attribute-Based Access Control (ABAC) are both critical in ensuring compliance. A converged IAM platform can integrate these access control methods to provide granular control over who can access what data. This not only enhances security but also makes it easier to demonstrate to auditors that data access is strictly managed and aligned with business roles.
5. Efficient Identity Lifecycle Management
One of the key requirements for compliance is ensuring that users are granted the right access at the right time—and that access is revoked when no longer necessary. A converged IAM platform automates the identity lifecycle management process, from onboarding and access provisioning to deactivation and auditing. This automation ensures that no access is overlooked, reducing the risk of non-compliance due to human error.
The Business Impact of Simplifying Compliance
By leveraging a converged IAM platform, organizations not only ensure compliance with regulatory standards but also reduce the time and costs associated with preparing for audits. The automation and centralization provided by these platforms also improve operational efficiency, allowing IT teams to focus on strategic initiatives rather than being bogged down by manual compliance tasks.
Future-Proofing Compliance with Converged IAM
As regulatory requirements continue to evolve, businesses need solutions that can adapt quickly. Converged IAM platforms like Soffid empower organizations to stay compliant while streamlining operations and reducing the complexity of audits and reporting. With unified governance, automated reporting, and consistent policy enforcement, organizations can meet their compliance goals more easily—ensuring that security is not just a checkbox, but a cornerstone of their business strategy.
by Rebeca | Sep 24, 2024 | open source, soffid, trends
At Soffid IAM, we often get asked why we share our code base for free, especially when it comes to Identity Governance and Administration (IGA). Last week, a potential customer questioned why we would offer our intellectual property at no cost. It’s a reasonable concern—after all, why would a company give away its product’s core? The answer is simple: security and transparency.
Why Security Isn’t About Hiding Code
One of the biggest misconceptions in software security is that hiding source code keeps it safe. In reality, with the sheer availability of decompilers and reverse engineering tools, anyone determined to access code can eventually succeed. Trying to hide the code only makes it harder for “the good guys”—security teams, auditors, and partners who want to verify its integrity—while malicious actors can still find a way. So, hiding the code is not a real security solution.
At Soffid, we believe that transparency is the key to securing intellectual property. By sharing our source code publicly, we can easily prove authorship in case of disputes without lengthy legal procedures. Customers, auditors, and collaborators can simply visit GitHub or other platforms to verify the legitimacy and timeline of our codebase.
Enhancing Security Through Open Source
When it comes to the security of our customers’ systems, open-source software has clear advantages. By making our code available, we invite not just our own security teams, but also customers, collaborators, and the broader security community to review and identify potential vulnerabilities before they are exploited in production environments.
Some argue that making the code open could allow bad actors to exploit vulnerabilities more easily. While theoretically possible, experience shows that this risk is minimal. For example, Linux—the backbone of over 75% of public servers globally—has demonstrated that open-source systems can be incredibly secure, even with their code open to the public. If anything, having more eyes on the code strengthens it.
The Productivity Boost of Open Source
Beyond security, using open-source tools offers significant productivity benefits for organizations. Without access to the source code, modifying behavior, diagnosing problems, or integrating with legacy systems can be incredibly time-consuming. With open-source IGA, businesses gain:
- Faster Implementation: New policies or configurations can be implemented quickly.
- Easier Problem-Solving: Engineers can directly review and modify the code to resolve issues faster.
- Flexibility: Customizing the platform to meet specific needs becomes much easier.
- Better Integration: Integrating with legacy systems or external tools is more straightforward when the source code is accessible.
The Benefits for Soffid IAM Customers
At Soffid IAM, we stand by our decision to offer open-source IGA because it provides several tangible benefits for our customers:
- Enhanced Security: Open-source allows for continuous code reviews, reducing vulnerabilities.
- Faster Project Completion: Customizations and issue resolutions are faster with open-source access.
- Fewer Technical Limitations: Our customers can build, modify, and extend the platform to meet their needs, without waiting for updates from us.
- Lower Costs: By minimizing troubleshooting time and simplifying integrations, open-source tools reduce overall implementation and maintenance costs.
Why We Haven’t Found Any Drawbacks
You might think there are drawbacks to sharing the source code, but honestly, we haven’t found any yet. Our customers experience better security, faster project completion, and fewer limitations. It’s a win-win for everyone.
In a world where security, flexibility, and transparency are paramount, open-source IGA stands as a powerful tool that provides long-term value.
by Rebeca | Sep 18, 2024 | cybersecurity, News, trends
Over the past two years, we’ve witnessed a significant shift in the way organizations manage identities and access to critical resources. A major driver behind this change has been the widespread migration from on-premise Exchange servers to Office 365, often prompted by Microsoft’s evolving requirements. In many cases, this wasn’t a decision driven by IT departments or end users—it was a mandate.
While Office 365 provides numerous advantages, the rapid adoption of cloud solutions left little time for thorough analysis of the associated risks. As companies moved to the cloud, the focus naturally shifted to securing access, with Multifactor Authentication (MFA) becoming a key priority. For some, this meant adopting Microsoft’s built-in security solutions, while others opted for more comprehensive access management platforms that cover not just Microsoft, but multiple systems and applications.
However, this swift shift to the cloud and MFA has brought unforeseen challenges. Many organizations now find themselves grappling with access control issues they hadn’t anticipated. For instance, remote employees often retain access to corporate email, Teams, and Office documents for days, or even longer, after leaving the company—introducing significant security risks.
The Importance of Identity Data Quality in the Cloud Era
As more organizations become aware of these vulnerabilities, there’s a growing emphasis on the quality of identity data. In today’s cloud-dominated landscape, having outdated or incorrect identity information can lead to major security breaches. Ensuring that identity data is accurate and up to date is crucial for protecting both company assets and sensitive information.
At Soffid, we’ve observed that the trend is shifting once again. Identity Governance and Administration (IGA) projects, which had been delayed or deprioritized in favor of immediate MFA implementations, are now regaining momentum. IT departments are recognizing the need to rethink identity management strategies in order to adapt to new challenges.
But identity management in 2024 will not resemble what it was back in 2020. Today, organizations must adopt a converged approach to identity management, one that addresses both on-premise and cloud environments. A holistic strategy must encompass four essential aspects:
- Who can access company resources: The core of identity governance.
- How people can prove their identity: Effective access management.
- How machines and microservices prove their identity: Handling the rise of IoT.
- How we track access to critical resources: Ensuring proper auditing and accountability.
PAM as an Integrated Element of Identity Management
Traditionally, Privileged Access Management (PAM) has been treated as a standalone solution, with its own isolated identity management framework. However, this is no longer necessary. In modern identity management strategies, PAM techniques and tools should be integrated across identity governance and access management, eliminating the need for isolated PAM systems.
Companies need policies and procedures that control access to corporate resources based on the criticality of those resources, rather than relying on protocol-specific or user-specific configurations. This shift reduces complexity and enhances the ability to manage both standard and privileged access in a unified manner.
Key Shifts in Identity Management
As we look to the future, we see three major shifts in the identity management landscape:
- MFA projects will evolve into comprehensive corporate access management strategies.
- IGA projects are making a comeback as a core priority for organizations.
- PAM will no longer be isolated but will become part of a broader, integrated IGA approach.
The wind is indeed shifting in identity management, and organizations must be prepared to adapt by adopting holistic, converged strategies that address today’s challenges and those on the horizon.
by Rebeca | Sep 11, 2024 | cybersecurity, Finance, trends
The financial sector is under siege from increasingly sophisticated cyber threats. Soffid IAM takes a deep dive into the most significant attacks from 2024 and how financial institutions can bolster their defenses.
1. Ransomware: A Growing Financial Burden
One of the most crippling ransomware attacks this year targeted a leading bank, forcing it to shut down services for several days. The hackers encrypted critical data and demanded millions in cryptocurrency for its release. The bank faced regulatory scrutiny due to the breach, highlighting the urgent need for not only fast response systems but also Privileged Access Management (PAM) to limit the reach of such attacks. The financial burden extended far beyond the ransom itself—lost business, reputational damage, and the cost of restoring systems magnified the impact (TechRadar).
2. Supply Chain Attacks: A New Weakness
A significant attack in 2024 exploited a major software vendor serving multiple banks. Hackers infiltrated the vendor’s systems, gaining access to its clients’ financial systems through trusted connections. This breach exposed sensitive customer information, putting numerous banks at risk and leading to a multi-bank regulatory investigation. The event underscored the importance of vendor risk management and the implementation of continuous monitoring tools to identify potential threats before they escalate (TechRadar).
3. DDoS Attacks: Disruption as a Strategy
The surge in Distributed Denial of Service (DDoS) attacks saw a 154% rise in the financial sector. A recent DDoS incident crippled a large financial institution, with attackers generating enormous amounts of traffic to disrupt online banking services. What made this attack more alarming was its coordination with a concurrent data theft, using the DDoS as a smokescreen. This dual-pronged approach has become more frequent, illustrating the need for advanced traffic analysis and automated incident response mechanisms to mitigate these multifaceted attacks (Akamai).
4. Credential Theft: Exploiting Insider Vulnerabilities
In another alarming trend, phishing and social engineering attacks targeting bank employees increased dramatically. In one breach, attackers impersonated a trusted executive, tricking an employee into handing over credentials, which were then used to access sensitive data and execute unauthorized financial transactions. The breach highlights the growing risk of insider threats and the need for Multifactor Authentication (MFA), combined with regular employee awareness programs to ensure that even sophisticated phishing attempts are detected and blocked (TechRadar).
How Soffid IAM Protects Financial Institutions
Soffid IAM provides robust tools to mitigate these types of attacks:
- Privileged Access Management (PAM): Reduces exposure to ransomware by limiting unauthorized access to critical systems.
- Multifactor Authentication (MFA): Helps prevent credential theft and unauthorized access.
- Identity Lifecycle Management: Ensures continuous monitoring and adjustment of access rights to reduce insider threat risks.
Soffid IAM empowers financial institutions to not only meet regulatory compliance but also defend against evolving cyber threats.
