Keeper Security is the best password manager to protect credit unions against cyber threats and data breaches.
Credit unions are lucrative targets for ransomware attacks because they hold vast amounts of valuable data such as tax records, Personally Identifiable Information (PII), financial information, business plans and more.
The National Credit Union Administration (NCUA) and similar regulatory agencies relaxed in-office requirements for the credit union industry in the wake of the COVID-19 pandemic, and many firms have maintained a hybrid work model. However, home networks and personal devices may have weaker security measures compared to corporate networks and devices.
This expands the attack surface and increases the difficulty for IT teams tasked with defending multi-cloud, work-from-anywhere environments.
Attacks targeting the financial sector have more than doubled since the global pandemic and the shift to remote work.
Credit unions often rely on third-party software for their operations, such as core banking systems, mobile banking apps and other financial software. If any of these software providers are compromised, it could potentially impact the credit union and its members via a supply chain attack, one of the most common vectors for reported incidents of ransomware in the credit union industry.
Throughout 2022, incidents at third-party vendors accounted for nearly a third of all credit union breaches.
Stringent regulatory frameworks, such as Sarbanes-Oxley (SOX) and Payment Card Industry Data Security Standard (PCI DSS), require specific controls in order to meet compliance and ensure the secure exchange of sensitive information.
Controls related to password and privileged access management can be especially daunting for credit unions with limited cybersecurity staff and budget.
By generating complex, unique passwords and storing them in an encrypted vault, password managers help thwart cyber attacks at the point of entry.
Generate, store and securely share passwords and credentials. By generating complex, unique passwords and storing them in an encrypted vault, password managers help thwart cyber attacks at the point of entry.
Provide IT and compliance teams with visibility and control over user credentials and access.
Password managers simplify the login process for end-users, eliminating password reset requests and improving productivity.
Credit unions are required to adhere to strict security compliance policies outlined by regulatory bodies like the NCUA. Here is how a password manager can help meet these requirements:
Enforce the use and secure storage of unique and complex passwords.
Integrate seamlessly with MFA to provide an extra layer of security and prevent unauthorised access, even if a password is compromised.
Securely store sensitive credentials to access everything from member data to financial systems in a safe, encrypted repository.
Log and monitor access and password change activity.
Manage access to various systems centrally by assigning specific permissions to employees based on their role.
Keeper uses best-in-class security, with a zero-trust framework and zero-knowledge security architecture that protects user data with multiple layers of encryption keys, ensuring that only the end-user has access to vault data.
Keeper SSO Connect® is a SAML 2.0 service that seamlessly and quickly integrates with Entra ID (Azure), Okta, Google Workspace and most other SSO providers for full end-to-end password protection and faster deployment.
Keeper is SOC 2 and ISO27001 compliant - with the longest-standing compliance in the industry - as well as FedRAMP and StateRAMP Authorised. Keeper's encryption has been certified by the NIST CMVP and validated to the FIPS 140 standard by accredited third-party laboratories.
Keeper's extensive admin capabilities enable IT teams to assign specific role-based permissions to different teams and users, ensuring that only authorised personnel can access certain credentials.
Keeper synchronises and stores 2FA codes within vault records for a seamless login experience.
Keeper Password Manager can be consolidated into a unified PAM platform to protect passwords, credentials, secrets and connections to reduce the risk of cyber attacks and defend against internal and external threat vectors.
Keeper's next-gen privileged access management platform provides a scalable, easy-to-use and affordable PAM solution.
Every organisation needs to secure its passwords, passkeys, credentials, secrets and connections to reduce the risk of cyber attacks and defend against internal and external threat vectors.
KeeperPAM® delivers enterprise-grade password, secrets and privileged connection management in one unified platform.
Enables organisations to securely manage, protect, discover, share and rotate passwords with full control and visibility to simplify auditing and compliance.
Delivers a fully-managed, cloud-based solution to secure infrastructure secrets such as API keys, database credentials, access keys and certificates.
Keeper gives credit unions the visibility and control they need to prevent credential-based cyber attacks by enabling IT administrators to monitor and manage employee password usage and system access, throughout the data environment.
With Keeper, firms gain privileged account session management, secrets management, Single Sign-On (SSO) integration, privileged account credential management and powerful credential vaulting and access control.
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