The Business Benefit and Value
By unifying and externalizing the authorization logic from the Banking Application, we can now start maintaining the life-cycle of the policies in a separate process from maintaining the application logic.
The benefit of having two processes is that they now can change independently from each other. This is often very important for retail banks that struggle with supporting the ever-changing compliance frameworks, both internal and external.
The visibility offered through the PlainID solution ensures that no one is able to access beyond what they should, and that the business knows at all times who has access to what.
The financial benefits of PBAC include a cost reduction in application development and application maintenance efforts but also in the user management processes where PBAC provides efficiency and clarity to the business. In the longer term, significant financial and strategic benefits relate to the efforts of being able to stay compliant with regulations over time, and to be able to continuously onboard new technologies in a secure and efficient fashion.
Furthermore, the compliance control gains can decrease data breaches as well as the number of records affected by each breach. The accounting of access decisions and their enforcement is complex and voluminous. Adoption of PBAC forces an organisation to standardize the dimensions of the authorization landscape to identify and define users, roles and resources (data, applications, other). With standardized taxonomies on which to pivot access control policies the accrued benefits include not only simplification, but greater transparency around who is accessing what, when, how and why. This makes control attestation for effectiveness a much easier process in order to self-assure compliance and audit teams that information control compliance requirements are being met.
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