Identity and access management (IAM): least privilege in financial institutions

1Introduction

Users, services and applications accumulate permissions over time; one compromised account then exposes all of them.

2Discussion

IAM manages the full identity lifecycle — joiner, mover, leaver — and automating it is the first step to maturity.

Least privilege, usually implemented through role-based access control, grants only what each role requires.

Privileged access management adds vaulted credentials, just-in-time access, session recording and MFA for admin accounts.

3Conclusion

Periodic access reviews, required by ISO/IEC 27001 and regulators, routinely uncover redundant permissions. Together with SSO and MFA, IAM raises security while simplifying daily work.