Increasing globalization continues to impact identity security. As more and more personal information crosses borders, instances of data breaches and online financial frauds affecting people in multiple countries are becoming all too frequent. To discuss the current threat landscape and whether 2F authentication can help mitigate the risks, Verghese V Joseph, Editor, Banktech India caught up with ArrayShield Technologies’ CEO & Co-Founder, Pavan Thatha. Excerpts:
While technologically speaking, IT security has undergone a sea-change, has there been a strategic shift in the way people perceive it?
Today information is the most valuable asset to an enterprise. At the same time, it is also the most vulnerable asset. A data breach today can impact the very bottomline of an organization.
Given the easy accessibility of malicious tool-kits and sophisticated means employed by attackers the threat landscape has become far more complex today than it ever was. Earlier, security used to be something that each organization managed on its own and more or less, people looked at security from outside to inside view, which meant that they worried more about what external threats that could hit them. So they invested in perimeter solutions and tools that made it difficult for outsiders to penetrate the enterprise network and other systems. However, over time, the landscape has changed dramatically with a sharp rise in the number of threat vectors that lay inside the enterprise. Given the number of points from where these kinds of attacks are coming through, the old view point has changed for sure.
So what are some of the trends that you are seeing in this changed scenario?
From being restricted to the walls of an organization, information is now distributed across a range of geographically dispersed and connected devices enabling anywhere access to meet the needs of a fast emerging mobile workforce. Hence, the definition of IT security has undergone a substantial change. Coupled with this, social networking, cloud and mobility have brought about new challenges to security. Web 2.0 is becoming a common phenomenon where employees are increasingly accessing social networking sites. This in turn, has heightened security needs driving companies to look at newer security technologies like web application firewalls, intrusion prevention systems and Web security technologies.
These trends are pointing towards a move away from single-point solutions to more converged security solutions. Not only will this result in an improved security posture for the enterprise, but converged solution also offer a better value proposition in terms of price and support.
How do you view the opportunities for yourself in this space?
Passwords are considered the major reason for most of the data breaches and identity theft incidents that happen across the globe. It is widely acknowledged that passwords are the weakest link in any organization’s infrastructure. ArrayShield’s IDAS provides a secure alternative to password based authentication, by providing a Two-Factor Authentication solution that leverages visual patterns that users can remember and a card that can be carried by them. This unique approach makes the authentication process highly secure and at the same time convenient and cost-effective. By leveraging ArrayShield’s IDAS technology, organizations of all sizes can protect themselves from Identity Theft and have complete peace of mind.
Any vertical specific strategy?
Well, BFSI is a focus area for us. Banking sector continues to be among the top spending verticals, partly due to the increasing penetration of foreign banks in India. In addition to banking, the government sector is also set to increase its spending on 2F authentication and we are exploring business opportunities there as well.
The physical access control market is moving fast. Find out where you stand with the latest edition of IFSEC Insider's comprehensive 2022 State of Physical Access Control trend report, covering all the latest developments within the market. We assess the current technology in use, upgrade plans and challenges, and major trends on the horizon after receiving the views of over 1000 security, facilities and IT professionals.
Get your copy for free today.
