ARE ZERO TRUST NETWORKS THE FUTURE ENTERPRISE SECURITY ARCHITECTURE MODELS?
Traditional network security models rely on the assumption that a device or an asset is safe once it is on a "trusted" internal network. As today's workforce becomes more cloud-centric and mobile, data is consistently being accessed outside these closed internal networks and as a result, new security gaps and vulnerability to breaches arise.
A zero trust network (ZTN) is an access model that assumes everything is on the open internet and operates under the principle of "trust no one, verify everything". In a ZTN, all user requests are fully authenticated, authorized, and encrypted in real-time.
- In addition to using a password to identify a user, secondary and tertiary factors are used further validation.
- In addition to trusting a user's device because it is on a network, verify that the device itself is healthy and compliant.
- Rather than allowing or denying full access, grant specific access to services, applications, or data required.
The core strategy of a ZTN is to continuously monitor the network for suspicious activity. Network permissions are controlled through intelligent and dynamic parameters to meet the needs a mobile workforce. Microsoft provides a friendly user guide on how to implement a ZTN strategy.
HOW CFOS ARE NAVIGATING THE FINANCIAL IMPACT OF COVID-19
The realities of an economic downturn are beginning to settle in. Chief financial officers are preparing for a recessionary environment, including reductions in costs and staffing. In PwC's third COVID-19 pulse survey, key findings from corporate leaders include:
- Focus aimed at initial financial impact: Capital resources and liquidity are among the top concerns as businesses deal with a sharp drop in economic activity, as well as the lasting effect on recovery.
- Recovery times lengthen: Acknowledging the outbreak will not dissipate quickly as only 20% of businesses expect to return to business as usual in one months time,
- Clampdowns on costs continue: Reduction in discretionary spending and processes put in place to tighten approvals.
- Stimulus impact is assessed: Nearly half (49%) of finance leaders have announced their company plans to take advantage of the assistance provided by government relief plans.
FINTECH COMPANIES TO PARTICIPATE IN DISTRIBUTING U.S. GOVERNMENT SMALL BUSINESS LOAN PROGRAM
Last month, an alliance of fintech technology leaders, known as Financial Innovation Now or FIN, wrote a letter to lawmakers asking to participate alongside banks to help distribute funds to small businesses. They cited their capabilities to reach those businesses most vulnerable, and more efficiently than a traditional financial institution.
Those efforts have paid off as PayPal, Intuit, and Square have been approved to provide access to small business loans through the U.S. Small Business Administration (SBA) Paycheck Protection Program. The $350 billion government-backed program provides forgivable loans to small businesses that agree to keep their employees on their payroll for at least eight weeks.
FIN seeks to accelerate the pace of change in financial services and believes that technological transformation will make financial services more accessible, safe and affordable for everyone. Learn more about FIN and its alliance members.
