CyberArk Extends Identity Security Platform with New Capabilities for Securing Every User

Rhea-AI Summary

CyberArk (NASDAQ: CYBR) announces enhancements to its Identity Security Platform at the CyberArk IMPACT 24 conference.

Driven by AI and Identity Threat Detection and Response (ITDR), the new features aim to secure identities across the workforce, IT, developers, and machines. Key upgrades include CyberArk CORA AI, enhanced password management, and zero standing privileges for IT users.

The platform now offers end-to-end passwordless authentication, granular access management, one-click secure resource access, and centralized secrets management. These updates aim to improve security efficiency and user experience.

Positive

• Enhanced identity security through AI-driven Identity Threat Detection and Response.
• Introduction of CyberArk CORA AI for targeted and effective security.
• End-to-end passwordless authentication introduced for workforce and IT users.
• Enhanced granular access management for Secure Web Sessions.
• One-click secure access for IT users through CyberArk Secure Browser.
• Provisioning of just-in-time privileged access for developers to databases like Oracle, Postgres, and MongoDB.
• Centralized secrets management across Google Cloud and Azure Key Vaults.

Negative

• CyberArk CORA AI is currently in early availability, limiting immediate access for most customers.
• Potential costs associated with upgrading to new platform capabilities for existing users.

Tech Expert

The new enhancements in CyberArk’s Identity Security Platform are significant in the realm of cybersecurity. The introduction of AI-driven capabilities and Identity Threat Detection and Response (ITDR) fortifies the platform's capacity to manage varying risk levels across different identities like workforce, IT users, developers and machine identities. The inclusion of features such as end-to-end passwordless authentication and zero standing privileges is a clear nod to the evolving nature of cyber threats, where traditional password-based systems are becoming increasingly vulnerable.

From a technological standpoint, these updates are forward-thinking, as they not only improve security but also streamline user experience. For instance, the integration of CyberArk Secure Browser for one-click secure access and centralized management of secrets in Azure Key Vaults are noteworthy advancements that reflect a deep understanding of modern security needs. The enhancements in session management, especially reducing the footprint for session management by up to 16 times, show a commitment to efficiency. These features will likely deter sophisticated attacks and make life easier for IT administrators.

In the short term, these technological advancements will likely enhance CyberArk's market position, demonstrating their agility in responding to contemporary security challenges. Long-term benefits include potentially reduced breach incidents and improved customer loyalty due to enhanced security and user experience.

Financial Analyst

From an investor's perspective, CyberArk’s announcement indicates robust growth and strategic alignment with current market needs. The fact that 93% of organizations faced identity-related breaches in the past year underscores the urgency and market demand for advanced identity security solutions. CyberArk’s proactive approach in integrating AI and ITDR into their platform should be seen as a significant step toward capturing a larger market share. The new capabilities like zero standing privileges, end-to-end passwordless authentication and centralized management of secrets are likely to be well-received by enterprises looking to bolster their cybersecurity infrastructure.

Financially, these enhancements can drive higher customer acquisition and retention rates. The reduction in deployment costs and improved efficiency for IT teams also suggests that organizations may see a tangible ROI on their cybersecurity investments. In the short term, this could translate to increased revenues for CyberArk, while the long-term implications include sustained growth and a strong competitive edge.

However, it is important to consider the potential risks, such as the company's ability to effectively market these new features and the possible emergence of competitive technologies. Investors should monitor how these enhancements impact customer satisfaction and adoption rates over the coming quarters.

Market Research Analyst

The market dynamics for identity security are evolving rapidly and CyberArk’s recent enhancements come at a pivotal time. The growing complexity of managing identities across various domains (workforce, IT, developers, machine) necessitates advanced solutions. CyberArk’s move to integrate AI and ITDR is a strategic one, tapping into the broader trend of AI adoption in cybersecurity. Features like automated threat detection and response, passwordless authentication and centralized secret management align well with the current market demand.

The company’s focus on a unified platform experience is particularly noteworthy as it addresses a common pain point—integrating disparate security solutions. By offering a cohesive management system, CyberArk makes it easier for organizations to maintain comprehensive security without disrupting workflows. This is likely to enhance customer satisfaction and could attract businesses seeking streamlined security operations.

In the short term, these features will likely boost CyberArk’s brand reputation as an innovator in identity security. Long-term, this could translate into higher market penetration and customer loyalty. The announcement also positions CyberArk to capitalize on future market trends, such as increased regulatory scrutiny and the growing importance of zero-trust security models.

Enhancements across platform boost security, efficiency and customer experience

NASHVILLE, Tenn.--(BUSINESS WIRE)-- CyberArk (NASDAQ: CYBR), the identity security company, today announced at its annual conference, CyberArk IMPACT 24, new enhancements across its Identity Security Platform. Driven by AI and Identity Threat Detection and Response (ITDR), the new functionality enables organizations to apply the right level of privilege controls to every identity, while providing a consistent customer experience for CyberArk administrators and end users.

With 93% of organizations suffering two or more identity-related breaches in the past year¹, the imperative to secure every identity has never been more urgent. This is made more complex by the fact that each type of identity has unique risk levels, requirements and challenges.

The CyberArk Identity Security Platform is optimized for the unique needs of each identity, including workforce, IT, developers and machine, without disrupting their workflows. The new enhancements make security teams even more effective at protecting all users and the information they access through a new, unified platform experience.

“CyberArk is committed to continuously innovating across our identity security platform to empower our customers to stay one step ahead in this dynamic threat landscape,” said Matt Cohen, Chief Executive Officer, CyberArk. “The enhancements announced this week, including CyberArk CORA AI, will help security teams be more targeted, more effective and more secure².”

Workforce Users: New security insights track identity infrastructure health and risks and provide actionable intelligence, continuous analysis and remediation guidance. In addition, password insights help stop attacks that stem from compromised credentials. Other enhancements to solutions for securing the workforce include:

• CyberArk Secure Web Sessions enhancements include granular access management policies to allow, block access and actions performed post-authentication.
• CyberArk Endpoint Privilege Manager introduces strong end-to-end passwordless authentication when signing into endpoints and elevating application controls.

IT Users: New capabilities include support for secure standing access and zero standing privileges, with the ability to isolate and audit privileged sessions. Simplified deployment of a single connector and no additional remote desktop licensing cost reduces the footprint for session management by up to 16 times. Other enhancements to solutions for securing IT users include:

• Within CyberArk Privileged Access Manager, integration of a new session management service with an organization’s self-hosted vault allows customers to retain control of their on-premise secrets.
• With CyberArk Secure Browser, IT users and vendors can now launch one-click secure access to on-premises and cloud resources from the browser sidebar.

Developers: Organizations can now provision IT, developer and cloud operations teams with just-in-time privileged access to databases like Oracle, Postgres and MongoDB. This workflow includes native access and session isolation, helping prevent malware and ransomware from reaching databases. Other enhancements to solutions for securing developers include:

• Securing developer access to AWS, Azure and GCP native services by implementing zero standing privileges, stopping lateral movement during an attack.
• Custom policies enable users to connect natively with their preferred tools – either the command line interface or the cloud console - with entitlements removed at the end of the session.

Machine Identities: Cloud security teams now have visibility to managed and unmanaged secrets in Azure secrets stores, reducing vault sprawl. Other enhancements to solutions for securing machine identities include:

• CyberArk Secrets Hub now discovers, centrally manages and rotates secrets in Azure Key Vaults. It also centrally manages secrets across Google cloud environments.
• CyberArk Conjur Cloud expands secrets management options for PAM Self-hosted customers by adding dynamic as well as rotated secrets.

Unified Portal: End user experience is greatly enhanced with one-click, native access to enterprise resources, with intelligent privilege controls protecting the user. Integrated with CyberArk Secure Browser, users can open web sessions by launching any connected client, whether SaaS, cloud or desktop applications. Administrators also now can configure user access from a single screen, see all policies across the platform and use CyberArk CORA AI to streamline their work.

1 CyberArk Identity Security Threat Landscape 2024 Report

2 CyberArk CORA AI is currently in early availability. An early availability program enables select customers to access technologies before they become generally available.

About CyberArk

CyberArk (NASDAQ: CYBR) is the global leader in identity security. Centered on intelligent privilege controls, CyberArk provides the most comprehensive security offering for any identity – human or machine – across business applications, distributed workforces, hybrid cloud environments and throughout the DevOps lifecycle. The world’s leading organizations trust CyberArk to help secure their most critical assets. To learn more about CyberArk, visit https://www.cyberark.com, read the CyberArk blogs or follow on LinkedIn, X, Facebook or YouTube.

Copyright © 2024 CyberArk Software. All Rights Reserved. All other brand names, product names, or trademarks belong to their respective holders.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240521397231/en/

Media:

Nick Bowman

CyberArk

+44 (0) 7841 673378

press@cyberark.com

Source: CyberArk

FAQ

What new enhancements were announced for CyberArk's Identity Security Platform?

CyberArk announced enhancements driven by AI and Identity Threat Detection and Response (ITDR), including end-to-end passwordless authentication, granular access management, and centralized secrets management.

How does CyberArk's new platform improve security for IT users?

The platform now includes support for secure standing access and zero standing privileges, isolated and audited privileged sessions, and one-click secure access through CyberArk Secure Browser.

What are the benefits of CyberArk's enhancements for developers?

Developers can now provision just-in-time privileged access to databases, secure access to AWS, Azure, and GCP services, and use custom policies for native tool access.

What capabilities does CyberArk offer for securing machine identities?

CyberArk offers visibility to managed and unmanaged secrets in Azure secrets stores, centralized secrets management across Google Cloud, and dynamic secret rotation.

What is the significance of CyberArk CORA AI?

CyberArk CORA AI enhances targeted security measures, efficiency, and user experience, although it is currently in early availability.