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MACHINE IDENTITY MANAGEMENT ‘ VITAL ’ FOR EFFECTIVE RISK MANAGEMENT IN MULTI- CLOUD ENVIRONMENTS
Where machine identities relate to anything from devices and workloads to applications , containers and clusters , Sitaram Iyer , Global Security Architect , Venafis , says failure to keep these identities up-to-date and secure the machines with which they are linked can become vulnerable to hijacking and exploitation .
For decades , major banks around the world have relied on aging mainframe computing systems to underpin their daily transaction activity . While these monolithic machines lack the flexibility of newer alternatives , their solid reliability made them an appealing long-term choice .
However , this situation is now changing as more banks examine the potential of cloud-based computing alternatives . According to one market estimate , 60 % of North American banks plan to invest in cloud technology in the future . Meanwhile , in Australia , Westpac has announced a five-year agreement with Amazon Web Services .
While such a shift is being motivated by a desire to reduce operational costs and improve efficiencies , it ’ s also causing an increase in potential security risks .
With such automated machine identity management capabilities in place , financial services IT teams can be confident they are much better positioned to maintain effective security in their cloud environments .
This is due to a resulting explosion in the volume of cloud assets , all of which have identities that must be securely managed . The only way to do this in dynamic and volatile environments like the cloud is to turn to third-party tooling for automation and control .
As many organizations have followed a cloud adoption strategy , many have opted to embrace
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