t cht lk could expose themselves to significant reputational and financial risk .
t cht lk could expose themselves to significant reputational and financial risk .
Concerningly , there are several roadblocks that can hinder effective machine identity management . Containers ( in particular ) are dynamic and ephemeral as they appear and disappear all the time . Each new one needs a digital certificate , which may ultimately only last an hour or two . Multiply this out over multiple clusters and clouds and the numbers quickly become mind-blowing .
Recent research by Venafi found that the average organization used nearly 250,000 machine identities at the end of 2021 . This figure is expected to more than double to at least 500,000 by 2024 .
Three-quarters of surveyed CIOs said they expect Digital Transformation initiatives to increase the number of machine identities in their organizations by at least 26 %. We would expect similar findings in the financial services sector .
The challenges are multiplied by the fact that cloudnative identity management tools don ’ t work across other providers ’ environments and don ’ t allow for continuous monitoring of machine identities . This can lead to duplicated effort , extra expense and critical security gaps .
It also puts financial services firms at risk of failing risk management audits which will at the very least require them to show an inventory of every machine protected by a certificate and possibly answer additional questions on critical assets .
The bottom line is that this task has quickly become unmanageable for human security teams . Instead , they require a single , automated machine identity management solution to work across all cloud and container environments .
This solution needs to automatically configure , renew and revoke certificates , delivering crosscluster visibility to help teams check the status of machine identities and answer any auditor questions with confidence .
Automated error displays down to the individual certificate-layer would enable them to easily click through and remediate , thereby further enhancing overall security posture .
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 . As the usage of cloud increases , having this capability has never been more important . p
Sitaram Iyer , Global Security Architect , Venafis
The average organization used nearly 250,000 machine identities at the end of 2021 . This figure is expected to more than double to at least 500,000 by 2024 .
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