Financial Services: Zero Trust Architecture Implementation
Key outcomes
Lateral Movement Risk
Privileged Access Exposure
Unauthorized Access Attempts
MFA Adoption
The challenge
A regional investment firm with $8B in assets under management was running a legacy network architecture with a VPN-based perimeter. After a sophisticated phishing attack compromised an employee's credentials and led to lateral movement across their flat network, regulators mandated a comprehensive security architecture review. The firm needed to implement Zero Trust principles, but faced significant challenges: 120+ legacy applications incompatible with modern authentication, a distributed workforce across 8 offices, tight regulatory compliance requirements (SEC, FINRA), and concerns about disrupting trading operations. Previous attempts by their internal IT team had stalled due to complexity and lack of expertise.
Our approach
We deployed a 4-engineer FDE pod for a 16-week phased Zero Trust implementation: Phase 1 (Weeks 1-4): Foundation & Assessment - Mapped all network flows, applications, user personas, and data classifications - Identified critical assets and defined protection priorities (trading systems, client data, financial reporting) - Assessed 120 applications for identity/authentication compatibility - Established Zero Trust maturity baseline using NIST SP 800-207 framework - Designed tiered rollout plan to minimize business disruption Phase 2 (Weeks 5-10): Identity & Access Control - Implemented Okta as centralized identity provider with MFA for all users - Deployed SAML/OAuth for 80 compatible applications - Built custom authentication wrappers for 40 legacy applications that couldn't support modern protocols - Implemented privileged access management (PAM) for administrative access - Created role-based access control (RBAC) policies with just-in-time access for sensitive systems - Deployed device trust with Endpoint Detection and Response (EDR) integration Phase 3 (Weeks 11-14): Microsegmentation & Monitoring - Implemented network microsegmentation using Illumio to isolate trading systems, client data environments, and corporate networks - Deployed Software-Defined Perimeter (SDP) to replace legacy VPN - Built continuous monitoring with real-time risk scoring based on user behavior, device posture, and access patterns - Integrated security controls with SIEM for unified visibility - Created automated response playbooks for anomalous access attempts Phase 4 (Weeks 15-16): Validation & Handoff - Conducted penetration testing to validate segmentation and access controls - Ran tabletop exercises simulating credential compromise and lateral movement attempts - Trained internal teams on Zero Trust operations and policy management - Documented architecture, runbooks, and escalation procedures
The outcome
The firm achieved a mature Zero Trust architecture without disrupting business operations: - Eliminated lateral movement risk through microsegmentation - subsequent phishing tests showed attackers couldn't move beyond the initial compromised endpoint - Reduced privileged access standing permissions by 94% with just-in-time access - Improved authentication security: 100% MFA adoption, conditional access policies based on risk - Decreased unauthorized access attempts by 78% due to enhanced visibility and automated blocks - Cut VPN-related help desk tickets by 85% with seamless SDP access - Passed regulatory audit with zero findings - examiners praised the security architecture Six months post-implementation, the firm successfully defended against a targeted attack. The attacker gained initial access via a compromised vendor, but microsegmentation and access policies prevented any lateral movement. The security team detected and contained the incident within 18 minutes. The CEO stated: 'Zero Trust was a regulatory checkbox that became our competitive advantage. Our clients sleep better knowing their data is protected.'
Implementing Zero Trust felt impossible with our legacy systems and regulatory constraints. Covenda's team didn't just understand the technology - they understood our business. They made Zero Trust work for us without disrupting trading operations for a single minute.
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