Company Size
1,000+
Region
- Europe
Country
- Germany
Product
- CyberArk Privileged Account Security Solution
- CyberArk Inter-Business Vault (IBV)
Tech Stack
- Privileged Account Management
- Password Management
- Data Encryption
- Authentication
Implementation Scale
- Enterprise-wide Deployment
Impact Metrics
- Customer Satisfaction
- Digital Expertise
- Innovation Output
Technology Category
- Cybersecurity & Privacy - Database Security
- Cybersecurity & Privacy - Identity & Authentication Management
- Cybersecurity & Privacy - Network Security
Applicable Industries
- Finance & Insurance
Applicable Functions
- Business Operation
Use Cases
- Regulatory Compliance Monitoring
- Remote Asset Management
Services
- Software Design & Engineering Services
- System Integration
About The Customer
Clearstream is a leading European supplier of post-trading services. A wholly owned subsidiary of Deutsche Börse Group, Clearstream ensures that cash and securities are promptly and effectively delivered between trading parties. The firm also manages, safekeeps and administers the securities that it holds on behalf of its customers. Over 300,000 domestic and internationally traded bonds, equities and investment funds are currently deposited with Clearstream. Clearstream offers one of the most comprehensive international securities available, settling more than 250,000 transactions for its 2,500 customers across 110 countries every day. Operating in a highly competitive industry, Clearstream strives to continue to stand out as an innovative firm, while providing an optimal and secure service for its customers.
The Challenge
The information that is handled by Clearstream on a daily basis is extremely sensitive. In order to address security concerns surrounding this, Clearstream initially needed to automate its manual administrator password management process to control access to privileged accounts based on pre-defined security policies. As the connection and transfer of data was regularly password protected, Clearstream required a more mature, professional solution to manage and control its passwords to ensure that corporate and customer information was appropriately protected. Strong authentication, information integrity and encryption were also essential so that only the right people had access to the right information and that this access could be adequately tracked, logged and monitored. In order to satisfy auditors as regulations continue to evolve, Clearstream sought a forward thinking solution that offered a clear overview of administrator activity and that could facilitate secure storage of this information in logs. Due to auditors having to adhere to extremely strict and tight timelines, Clearstream needed a solution that could quickly and accurately deliver the information required. This is a constant regulatory requirement and Clearstream wanted to work with a technology partner that could continue to evolve with the company to meet these needs.
The Solution
Having conducted a review of the market and solutions available, Clearstream selected CyberArk. Its solutions matched Clearstream’s technological needs and its state-of-the-art mentality, while being easy to manage and secure. Over the years, Clearstream has continued to expand its use of the CyberArk solutions across the IT department in order to secure and monitor privileged accounts, and for the secure exchange of data internally and with external partners. When Clearstream first started working with CyberArk in 2006, it implemented the CyberArk Privileged Account Security Solution, which enables Clearstream to manage, secure and audit the entire lifecycle of shared and privileged accounts. Clearstream already had in-house compliance applications in place and needed CyberArk’s privileged account management solution to work hand-in-hand with the existing business applications. The CyberArk solution allows Clearstream to trace and correlate all actions performed by privileged users and ensure that they cannot be tampered with at any stage in order to meet audit and regulatory requirements. As Clearstream handles the exchange of highly sensitive information, both internally and with external parties, CyberArk’s Inter-Business Vault (IBV) has also been recently implemented, in order for the company to securely exchange password protected and encrypted data with select customers, partners and internal users. Clearstream’s entire testing and production infrastructure is now protected by CyberArk.
Operational Impact
Quantitative Benefit
Case Study missing?
Start adding your own!
Register with your work email and create a new case study profile for your business.
Related Case Studies.
Case Study
Real-time In-vehicle Monitoring
The telematic solution provides this vital premium-adjusting information. The solution also helps detect and deter vehicle or trailer theft – as soon as a theft occurs, monitoring personnel can alert the appropriate authorities, providing an exact location.“With more and more insurance companies and major fleet operators interested in monitoring driver behaviour on the grounds of road safety, efficient logistics and costs, the market for this type of device and associated e-business services is growing rapidly within Italy and the rest of Europe,” says Franco.“The insurance companies are especially interested in the pay-per-use and pay-as-you-drive applications while other organisations employ the technology for road user charging.”“One million vehicles in Italy currently carry such devices and forecasts indicate that the European market will increase tenfold by 2014.However, for our technology to work effectively, we needed a highly reliable wireless data network to carry the information between the vehicles and monitoring stations.”
Case Study
Safety First with Folksam
The competitiveness of the car insurance market is driving UBI growth as a means for insurance companies to differentiate their customer propositions as well as improving operational efficiency. An insurance model - usage-based insurance ("UBI") - offers possibilities for insurers to do more efficient market segmentation and accurate risk assessment and pricing. Insurers require an IoT solution for the purpose of data collection and performance analysis
Case Study
Smooth Transition to Energy Savings
The building was equipped with four end-of-life Trane water cooled chillers, located in the basement. Johnson Controls installed four York water cooled centrifugal chillers with unit mounted variable speed drives and a total installed cooling capacity of 6,8 MW. Each chiller has a capacity of 1,6 MW (variable to 1.9MW depending upon condenser water temperatures). Johnson Controls needed to design the equipment in such way that it would fit the dimensional constraints of the existing plant area and plant access route but also the specific performance requirements of the client. Morgan Stanley required the chiller plant to match the building load profile, turn down to match the low load requirement when needed and provide an improvement in the Energy Efficiency Ratio across the entire operating range. Other requirements were a reduction in the chiller noise level to improve the working environment in the plant room and a wide operating envelope coupled with intelligent controls to allow possible variation in both flow rate and temperature. The latter was needed to leverage increased capacity from a reduced number of machines during the different installation phases and allow future enhancement to a variable primary flow system.
Case Study
Automated Pallet Labeling Solution for SPR Packaging
SPR Packaging, an American supplier of packaging solutions, was in search of an automated pallet labeling solution that could meet their immediate and future needs. They aimed to equip their lines with automatic printer applicators, but also required a solution that could interface with their accounting software. The challenge was to find a system that could read a 2D code on pallets at the stretch wrapper, track the pallet, and flag any pallets with unread barcodes for inspection. The pallets could be single or double stacked, and the system needed to be able to differentiate between the two. SPR Packaging sought a system integrator with extensive experience in advanced printing and tracking solutions to provide a complete traceability system.
Case Study
Transforming insurance pricing while improving driver safety
The Internet of Things (IoT) is revolutionizing the car insurance industry on a scale not seen since the introduction of the car itself. For decades, premiums have been calculated using proxy-based risk assessment models and historical data. Today, a growing number of innovative companies such as Quebec-based Industrielle Alliance are moving to usage-based insurance (UBI) models, driven by the advancement of telematics technologies and smart tracking devices.
Case Study
MasterCard Improves Customer Experience Through Self-Service Data Prep
Derek Madison, Leader of Business Financial Support at MasterCard, oversees the validation of transactions and cash between two systems, whether they’re MasterCard owned or not. He was charged with identifying new ways to increase efficiency and improve MasterCard processes. At the outset, the 13-person team had to manually reconcile system interfaces using reports that resided on the company’s mainframe. Their first order of business each day was to print 20-30 individual, multi-page reports. Using a ruler to keep their place within each report, they would then hand-key the relevant data, line by line, into Excel for validation. “We’re talking about a task that took 40-80 hours each week,” recalls Madison, “As a growing company with rapidly expanding product offerings, we had to find a better way to prepare this data for analysis.”