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Case Study · FinTech

Optimized Identity & Access Management – FinTech

Managing access rights for over 600 employees by hand cost a FinTech company up to 40 days per new hire – with a 15 percent error rate. With XAAM for Jira, onboarding now takes one day, and every access grant is traceable.

All Results at a Glance

-40 days
Reduction of onboarding time to one day
↑ Transparency
through automated reports and audit trails
↑ Compliance
Four-eyes principle improves ISO 27001 compliance

The Challenge

A leading FinTech company (an exchange) faced the challenge of improving inefficient and error-prone identity and access management (IAM) processes. Manually managing access rights for over 600 employees and numerous external partners led to frustrating wait times and an alarming error rate of 15%. Onboarding times for new employees were especially problematic, stretching to up to 40 days.

The Solution

XALT therefore implemented "Advanced Access Management (XAAM)" for Jira, a comprehensive solution for automating and optimizing IAM processes. The system enables fast assignment of access rights through automated processes that ensure new employees can be productive from day one. XAAM covers several use cases:

Onboarding new employees

Onboarding time was reduced by XAAM from 40 days to just one day. Automated processes ensure new employees have immediate access to all necessary systems.

Freelancer management

For temporary staff, such as freelancers in IT development who work for the company only for a limited period, XAAM provides fast and precise assignment to the required systems, and later an automated removal of access rights.

Vacation cover

The system makes it possible to efficiently manage and transfer roles, including their access rights, temporarily for the duration of vacation cover. Access rights are automatically adjusted after the defined period.

Low-angle view of four glass and steel high-rise buildings in a banking district
The partnership with XALT was extremely productive and marked by mutual respect. XAAM has revolutionized our IAM processes and helped us significantly increase efficiency and security.
IT lead at our client

The Results

The introduction of XAAM led to significant improvements in the efficiency and security of IAM processes at our client in the highly regulated FinTech sector. Key results include:

  • Reduced onboarding time: from up to 40 days to an average of one day
  • Increased transparency: automated reports and audit trails enable a clear overview of access rights
  • Improved compliance: implementing the four-eyes principle and regularly reviewing access rights improves adherence to ISO 27001 standards
Abstract data stream: blurred rows of glowing numbers and dots in turquoise and orange

Summary

Through close collaboration with XALT, our client successfully mastered its IAM challenges. XAAM offers a scalable and secure solution that optimizes business operations while ensuring compliance with security standards. This success story shows how important an automated and integrated IAM solution is for modern companies.

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