Cloakware Secures Forbes Global 2000 Financial Institution With Privileged Password Management (PPM) Solutions

Global security leader replaces appliance-based hardware with scalable software solution

February 11, 2009

3 Min Read


Vienna, VA " Feb. 10, 2009 "Cloakware Inc., the provider of proven software solutions for securing business and digital assets, announced today that another top financial services organization has chosen its leading Password Authority (CPA) solution to manage privileged passwords and information access in their worldwide enterprise.

In light of recent, major security breaches large organizations are re-evaluating security policies and datacenter access measures. Cloakware's most recent financial customer joins the ranks of other Forbes Global 2000 clients in using Password Authority to secure both existing corporate infrastructure and planned future acquisitions. Cloakware's Password Authority will be a key determinant to ensure they can weather -- and thrive -- during the economic storm. "Initially, compliance requirements were the driver for the implementation of privileged identity management controls. Adoption is now increasingly spurred by the awareness of the issue posed by insider threat," said Steve Coplan, Senior Analyst, Enterprise Security Practice at The 451 Group. "Effective risk management calls for a systematic, policy-driven approach for access to sensitive resources combined with monitoring and auditing."

Although the financial giant already had a hardware-based appliance solution for Privileged Password Management (PPM), the need to improve resource utilization in their datacenters drove the upgrade to Password Authority. The requirement for a software based solution with an ability to support multi-site, heterogeneous environments -- including fault tolerance for business continuity -- was critical for the global business. Cloakware's Password Authority with its patented white-box security techniques encrypts and protects passwords, and provides an architectural flexibility which is uniquely capable of meeting the rigorous demands that auditors and stakeholders place on the bank.

"Turmoil in the global financial sector continues, and inevitably there has been -- and will continue to be -- considerable consolidation, restructuring and turnover in IT staff leaving organizations ill-prepared and exposed to threats that can cripple the business," said David Canellos, Cloakware President and Chief Operating Officer. "Smart organizations, such as this banking leader, understand the importance of providing the strongest access protection to their critical information in corporate datacenters while still ensuring business continuity."

Cloakware's Password Authority provides customers, including industry leaders across Forbes Global 2000, with its patented white-box security techniques that protect the entire datacenter without exposing any intermediate processes. Using this solution, companies can guard against unwanted access, protect proprietary information and guarantee a secure, productive environment even in times of economic tumult and high employee turnover.

About Cloakware Cloakware, an Irdeto company and part of the Naspers group, provides innovative, secure, proven software technology solutions that enable customers to protect business and digital assets in enterprise, consumer and government markets. Cloakware's two main product lines include; Cloakware Datacenter Solutions which help organizations meet governance, risk management and compliance (GRC) objectives for privileged password management while ensuring business continuity and the security of mission-critical data and IT infrastructure. Cloakware Consumer Product Solutions protect software and content on PCs, set-top boxes, mobile phones and media players. Protecting more than one billion deployed applications, Cloakware is the security cornerstone of many of the world's largest, most recognizable and technologically advanced companies. Headquartered in Vienna, VA and Ottawa, Canada, Cloakware has regional sales offices worldwide.

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