Financial institution adopts SSH’s PrivX solution to enhance operational efficiency, boost cybersecurity

A global financial institution has selected SSH’s PrivX offering as its privileged access management (PAM) solution. This is the third significant lighthouse customer for PrivX in the U.S. The initial contract value is approximately USD 0.25 million of annual recurring subscription revenue (ARR), including professional services. The contract is automatically renewable, and the customer is said to be following the company’s ‘land-and-expand’ strategy.

PrivX helps eliminate static credentials with passwordless authentication and just-in-time access, enabling easy implementation of zero trust access management solution. It is easy to use for administrators and users; seamless solution for certificate-based access, and delivers improved operational efficiency through the elimination of ‘jump servers.’  

“We are excited to have this leading global financial institution enter their Zero Trust journey with our help,” Dr. Teemu Tunkelo, CEO of SSH, said in a media statement. “This organization is a highly demanding customer. PrivX is the most advanced hybrid lean PAM solution on the market.”

PrivX is a modern PAM solution that helps organizations to control and manage access to their critical systems and data. PrivX is the core of the company’s recently launched biometric, credential-less, and borderless solution – Zero Trust Suite.  

Zero Trust Suite combines SSH’s proven-in-use communications security products into a modern passwordless, keyless, and borderless solution and further fortifying solutions with quantum-safe cryptography. Borderless means that currently cybersecurity threats are equally significant in internet, extranet, and intranet networks.

The customer selected PrivX after a thorough evaluation of several PAM solutions. PrivX was chosen for its ease of use, scalability, and ability to help the customer eliminate static credentials and improve operational efficiency. Because of PrivX’s modern technology, it is also one of the easiest solutions to deploy in large environments. Often, organizations are not implementing PAM comprehensively, leaving some of their privileged user accounts under a risk of being compromised for criminal purposes.

Industrial Cyber News Desk

Industrial Cyber News Desk