Use Case
Use Case
Whenever enterprises entrust third parties with cryptographic material, they entrust those parties with the future of the enterprise. This trust is not always well placed. Nearly 80% of enterprise cyberattacks originate from compromised vendors.
The New York Department of Financial Services (NYDFS) recently issued guidance on third-party vendor risk management, to the financial institutions it covers. The NYDFS puts it plainly, financial institutions are now responsible for a multitude of third party risk factors: auditing, monitoring, drift detection, integration risk, control changes. What’s more, NYDFS expects validation by observable results instead of self-reported controls.
SplitSecure offers a new, dramatically simpler way for financial institutions to manage third-party cybersecurity risk. SplitSecure gives every financial institution, large or small, the same advanced access-control protections used by top-tier security teams, without requiring new headcount or complex integration.
SplitSecure is an access control platform, which can be deployed as a middle layer between the financial institution and their third-party vendors. With SplitSecure:
And unlike other vendors in this space, SplitSecure never has access to the information it’s protecting. Everything is controlled by the financial institution, so we never add to your third party risk. Our technology is based on a cryptographic technique called Shamir Secret Sharing, previously used by the NSA, Brex, and Google for protecting their most sensitive organizational secrets.
Inside your enterprise, you have secrets you protect with other secrets. You might have password managers protected by passwords, PAM platforms you need credentials to access, and so forth. No matter how many layers you add, there’s always a “last secret” protecting the entire system. That last secret is a liability to your organization, and it creates risk of theft or abuse.
SplitSecure solves this problem by offering a way to protect secrets without a persistent “last secret”. It is the foundation upon which your SSO, PAM, Vault, and PKI can securely rest.
SplitSecure solves the “last secret” problem by splitting secrets & credentials across a group of devices called a team. The team can use the protected secret normally, but the secret is never persisted on any device and never leaves the environment.
You can think of this like the classic requirement to launch a nuclear missile, where two users must turn their keys at the same time. Multiple SplitSecure devices collaborate to take an action with the secret, but none of them ever possess the secret.
This architecture is powerful because it offers defense in depth, cryptographic sovereignty, and infinite resolution.
Because no device in the SplitSecure team ever holds the protected secret, it is not possible for an attacker to extract the secret by compromising an employee device. Even if an attacker fully compromised the devices and user accounts of your SplitSecure IT admin, they cannot grant themselves access to protected resources.
Enterprises using SplitSecure retain full control over their secrets at all times. They never have to allow a vendor to hold their secrets – even SplitSecure Inc has no access.
In SplitSecure, the team “sees” how a secret is going to be used before deciding if it should grant an access request. This means CISOs can write policies not just for when secrets may be accessed, but specifically how they may be used.
If you’d like to know more about how SplitSecure can help your organization, or if you’d like to see our technical whitepaper to get a better idea of how it works, please contact our sales team.