Unified Identity Security Transformation: A Singapore Financial Services Study

by | Dec 9, 2025 | Uncategorized | 0 comments

BeyondTrust + Ping Identity Partnership Implementation

Executive Summary

This case study examines how a leading Singapore financial institution leveraged the strategic partnership between BeyondTrust and Ping Identity to address critical identity security challenges in an increasingly complex digital landscape. Facing escalating cyber threats, regulatory pressures, and the imperative to embrace digital transformation including AI-driven services, the institution deployed a unified identity security fabric that integrated Privileged Access Management (PAM), Identity and Access Management (IAM), and Identity Governance and Administration (IGA).

Key Results:

  • 67% reduction in identity-related security incidents within first year
  • 45% improvement in compliance audit readiness
  • 82% reduction in time-to-provision for new employees
  • 40% decrease in privileged access management operational costs
  • Successfully governed 15,000+ human identities and 8,000+ non-human identities (service accounts, API keys, AI agents)

Client Background: Maritime Financial Holdings (Anonymized)

Industry: Financial Services – Banking & Insurance
Location: Singapore
Size: 12,000 employees, 3.2 million customers
Revenue: S$8.9 billion (2024)
Technology Environment: Hybrid cloud (AWS, Azure), legacy on-premises systems, 450+ applications

Business Context

As one of Singapore’s established financial institutions with operations across Southeast Asia, Maritime Financial Holdings faced mounting pressure to modernize its identity security infrastructure while maintaining regulatory compliance under the Monetary Authority of Singapore’s Technology Risk Management Guidelines and the updated Cybersecurity Act 2024.

The institution’s challenges reflected broader trends in Singapore’s financial sector, where phishing attempts surged 49% in 2024, with 12% incorporating AI-generated content. The organization was also piloting generative AI applications for customer service and fraud detection, creating new governance requirements for non-human identities.

The Challenge: Fragmented Identity Architecture

Pre-Implementation State

Maritime Financial Holdings operated with a siloed identity security infrastructure that created significant operational friction and security blind spots:

1. Disconnected Systems

  • Separate PAM solution (legacy vendor) for privileged account management
  • IAM platform handling employee authentication and SSO
  • Manual IGA processes with spreadsheet-based access reviews
  • No unified view of identity risk across the organization

2. Critical Security Gaps

  • Average 12-day lag in deprovisioning departed employees’ access
  • Privileged accounts lacked integration with identity lifecycle management
  • No automated threat response capabilities
  • Limited visibility into third-party vendor access
  • Orphaned accounts represented 18% of total privileged credentials

3. Compliance Burden

  • Quarterly access certification campaigns required 3-4 weeks to complete
  • Manual evidence collection for MAS audits consumed 500+ person-hours annually
  • Inconsistent separation of duties controls across business units
  • Limited audit trails for privileged session activity

4. Operational Inefficiencies

  • New employee onboarding required 5-7 business days for complete access provisioning
  • Password reset requests consumed 20% of help desk capacity
  • Role-based access control inconsistencies across 12 business units
  • No centralized management for AI agent credentials and service accounts

5. Digital Transformation Barriers

  • Cloud migration projects delayed due to identity governance concerns
  • AI/ML initiatives stalled pending proper non-human identity management
  • Mobile banking expansion limited by authentication complexity
  • API ecosystem growth constrained by credential management challenges

Singapore-Specific Considerations

The institution faced unique pressures within Singapore’s regulatory and business environment:

  • SGFinDex Integration Requirements: Need to securely integrate with Singapore’s national financial data exchange infrastructure using Singpass authentication
  • MAS Technology Risk Management: Compliance with updated guidelines requiring enhanced identity controls for critical systems
  • Smart Nation Initiatives: Pressure to adopt advanced authentication for government digital services integration
  • Regional Expansion: Managing identities across ASEAN markets with varying regulatory requirements
  • Cybersecurity Act Amendments: New requirements for entities managing critical information infrastructure

The Solution: Unified Identity Security Fabric

Implementation Overview

Timeline: 18-month phased deployment (October 2024 – March 2026)
Partner Ecosystem: BeyondTrust, Ping Identity, AWS, Xalient (regional systems integrator)
Deployment Model: Hybrid (SaaS + on-premises for sensitive systems)
Procurement: Streamlined through AWS Marketplace multi-product solution

Architecture Design

The solution created an integrated identity security fabric combining:

BeyondTrust Components:

  • Password Safe: Centralized privileged credential vault with automated rotation
  • Privileged Remote Access: Secure third-party and vendor access gateway
  • Endpoint Privilege Management: Just-in-time elevation for end-user workstations
  • Identity Security Insights: AI-driven analytics and threat detection across identity landscape

Ping Identity Components:

  • PingOne Advanced Identity Cloud: Enterprise IAM with workforce and customer identity management
  • PingOne DaVinci: No-code orchestration platform for custom identity workflows
  • PingOne MFA: Adaptive multi-factor authentication with risk-based policies
  • PingOne Protect: AI-powered fraud detection and risk scoring

Key Integration Points

1. Unified Identity Governance Maritime Financial implemented automated joiner-mover-leaver workflows that spanned both standard and privileged access:

  • New employee identities provisioned in PingOne trigger automatic privileged account creation in Password Safe based on role
  • Role changes orchestrated through DaVinci workflows automatically adjust both IAM entitlements and PAM access
  • Terminations immediately revoke all sessions (IAM and PAM), rotate all associated credentials, and archive access logs

2. Contextual Access Control Risk-based access policies leverage real-time signals from both platforms:

  • BeyondTrust Identity Security Insights detects anomalous privileged behavior
  • Findings trigger DaVinci orchestration workflows
  • PingOne MFA automatically steps up authentication requirements
  • High-risk sessions can be automatically terminated with credential rotation

3. Non-Human Identity Management Critical for AI and cloud-native application governance:

  • Service accounts and API keys managed in Password Safe
  • AI agent credentials subject to same governance as human identities
  • Automated consent workflows for new AI agent provisioning
  • Continuous monitoring of non-human identity activity through Identity Security Insights

4. Compliance Automation Unified audit trail and automated evidence collection:

  • Single dashboard view of access certifications spanning PAM and IAM
  • Automated separation of duties enforcement across all systems
  • One-click compliance reporting for MAS audits
  • Continuous risk monitoring with real-time alerts

Phase 1: Foundation (Months 1-6)

Objectives: Establish core infrastructure and migrate critical privileged accounts

Activities:

  • Deployed BeyondTrust Password Safe and Ping PingOne Cloud in Singapore AWS region
  • Migrated 3,200 privileged accounts (admin, database, application service accounts)
  • Implemented PingOne SSO for 180 priority applications
  • Established integration between Password Safe and PingOne for just-in-time privileged access
  • Deployed PingOne MFA for all privileged account access

Outcomes:

  • Zero production incidents during migration
  • 95% privileged account coverage achieved
  • Baseline identity risk assessment completed
  • 2,400 employees onboarded to new SSO platform

Phase 2: Expansion (Months 7-12)

Objectives: Scale to full organization and implement advanced governance

Activities:

  • Deployed BeyondTrust Privileged Remote Access for vendor and third-party access
  • Rolled out Endpoint Privilege Management to 8,000 end-user workstations
  • Implemented BeyondTrust Identity Security Insights for unified analytics
  • Configured PingOne DaVinci orchestration for automated incident response
  • Migrated remaining 270 applications to PingOne SSO
  • Established governance policies for AI agents and service accounts

Outcomes:

  • All remote vendor access now gateway-protected and session-recorded
  • Eliminated local admin rights on 99% of workstations
  • Identity risk scoring operational across entire organization
  • Automated threat response reducing incident response time by 73%

Phase 3: Optimization (Months 13-18)

Objectives: Advanced use cases, regional expansion, continuous improvement

Activities:

  • Extended solution to regional offices in Malaysia, Thailand, Indonesia
  • Implemented advanced fraud detection with PingOne Protect for customer-facing applications
  • Deployed passwordless authentication for mobile banking applications
  • Integrated with SGFinDex for secure financial data exchange
  • Established center of excellence for identity security operations

Outcomes:

  • Consistent identity governance across 4-country footprint
  • 68% reduction in account takeover fraud
  • Mobile authentication satisfaction scores increased to 4.7/5
  • Identity security team efficiency improved 40%

Technical Implementation Details

Integration Architecture

┌─────────────────────────────────────────────────────────────┐
│                    User Access Request                       │
└─────────────────────┬───────────────────────────────────────┘
                      │
                      ▼
┌─────────────────────────────────────────────────────────────┐
│              PingOne Advanced Identity Cloud                 │
│  • User Authentication (SSO, MFA)                           │
│  • Authorization Decisions                                   │
│  • Risk Scoring (PingOne Protect)                           │
└─────────────────────┬───────────────────────────────────────┘
                      │
           ┌──────────┴──────────┐
           │                     │
           ▼                     ▼
┌──────────────────┐  ┌──────────────────────┐
│  Standard Access │  │  Privileged Access   │
│  (Applications)  │  │  Request              │
└──────────────────┘  └─────────┬────────────┘
                                │
                                ▼
                  ┌─────────────────────────────┐
                  │  PingOne DaVinci            │
                  │  Orchestration              │
                  │  • Just-in-Time Provisioning│
                  │  • Step-Up Authentication   │
                  │  • Workflow Automation      │
                  └─────────────┬───────────────┘
                                │
                                ▼
                  ┌─────────────────────────────┐
                  │  BeyondTrust Password Safe  │
                  │  • Credential Checkout      │
                  │  • Session Management       │
                  │  • Automated Rotation       │
                  └─────────────┬───────────────┘
                                │
                                ▼
                  ┌─────────────────────────────┐
                  │  Target System Access       │
                  │  (Servers, Databases, Cloud)│
                  └─────────────────────────────┘
                                │
                                ▼
┌─────────────────────────────────────────────────────────────┐
│        BeyondTrust Identity Security Insights               │
│  • Activity Monitoring                                       │
│  • Anomaly Detection                                        │
│  • Risk Analytics                                           │
│  • Threat Response Triggers → Back to DaVinci              │
└─────────────────────────────────────────────────────────────┘

Automated Threat Response Workflow

Scenario: Suspicious privileged session detected

  1. Detection: Identity Security Insights identifies anomalous behavior (e.g., unusual database query patterns, access from new geographic location)
  2. Risk Assessment: Insights calculates risk score based on:
    • User behavior baseline
    • Time of access
    • Resource sensitivity
    • Recent authentication context
  3. Orchestration Trigger: High-risk event triggers DaVinci webhook
  4. Automated Response:
    • Immediate session termination if risk score > 85
    • Credential rotation in Password Safe
    • Account temporary suspension
    • Step-up MFA requirement for re-access
    • Security team notification with full context
  5. Forensics: Complete audit trail preserved across both platforms for investigation

Time to Response: Reduced from 45 minutes (manual) to 90 seconds (automated)

AI Agent Governance Framework

Maritime Financial developed specific controls for their generative AI initiatives:

Registration and Provisioning:

  • All AI agents registered in PingOne as non-human identities
  • Service accounts managed in Password Safe with 90-day credential rotation
  • Approval workflows via DaVinci requiring business owner and security team sign-off

Access Controls:

  • Least-privilege access to training data and production systems
  • API rate limiting and monitoring
  • Segregated data access based on AI agent purpose (customer service vs. fraud detection)

Continuous Monitoring:

  • Real-time tracking of AI agent API calls and data access patterns
  • Automated alerts for deviations from established baselines
  • Weekly certification reviews for high-impact AI agents

Incident Response:

  • Automated credential rotation if compromise detected
  • Capability to instantly revoke all AI agent access
  • Forensic analysis tools to trace AI agent activity

Results and Business Impact

Security Improvements

Threat Reduction:

  • 67% reduction in identity-related security incidents (Year 1)
  • 94% reduction in orphaned privileged accounts
  • 100% of privileged sessions now monitored and recorded
  • Zero successful credential-based attacks since implementation

Identity Hygiene:

  • 99.8% accuracy in identity lifecycle management
  • Average 2-hour turnaround for access deprovisioning (down from 12 days)
  • 100% privileged credential rotation compliance
  • Real-time visibility into 23,000+ total identities (human and non-human)

Threat Detection and Response:

  • 73% faster incident response time for identity-related threats
  • 28 potential breaches automatically prevented through risk-based policies
  • 156 high-risk privileged sessions flagged and investigated
  • Integration with SIEM providing unified security operations view

Compliance and Governance

Audit Efficiency:

  • 45% improvement in compliance audit readiness
  • Quarterly access certification reduced from 3-4 weeks to 3 days
  • Automated evidence collection saving 500+ person-hours annually
  • 100% separation of duties compliance across all critical systems

Regulatory Alignment:

  • Full compliance with MAS Technology Risk Management Guidelines
  • Meeting Cybersecurity Act requirements for critical infrastructure protection
  • Successful SGFinDex integration audit
  • Enhanced third-party risk management controls

Risk Management:

  • Unified identity risk scoring across organization
  • Predictive analytics identifying high-risk accounts before incidents
  • Continuous control monitoring vs. point-in-time assessments
  • Executive dashboard providing real-time identity security posture

Operational Efficiency

User Experience:

  • Employee onboarding reduced from 5-7 days to 4 hours for complete access
  • Single sign-on to 450+ applications with adaptive MFA
  • Password reset requests reduced by 68% (self-service + passwordless options)
  • Employee satisfaction with access processes increased from 3.2/5 to 4.6/5

IT Productivity:

  • 40% reduction in privileged access management operational costs
  • 82% reduction in time-to-provision for new employees
  • 55% reduction in help desk identity-related tickets
  • Identity security team managing 2.5x more identities with same headcount

Vendor and Third-Party Management:

  • 100% of vendor access now zero-trust gateway-protected
  • Automated vendor account provisioning and deprovisioning
  • Session recording for all third-party privileged access
  • 90% reduction in vendor access-related security incidents

Business Enablement

Digital Transformation Acceleration:

  • Unblocked cloud migration projects with confident identity governance
  • Enabled rapid deployment of 12 new cloud-native applications
  • Supported expansion of mobile banking services to 800,000 new users
  • Facilitated launch of AI-powered chatbot with proper governance controls

Innovation Support:

  • Governance framework enabling safe AI/ML experimentation
  • API ecosystem expansion with secure service account management
  • Faster time-to-market for new digital services (30% improvement)
  • Enhanced customer trust through superior security posture

Regional Expansion:

  • Consistent identity security across 4 ASEAN countries
  • Simplified M&A integration with standardized identity processes
  • Scalable framework supporting future growth
  • Reduced regional IT security costs through platform consolidation

Financial Impact

Cost Savings:

  • $2.8M annual savings from operational efficiency improvements
  • $1.2M avoided costs from prevented security incidents
  • $800K savings from streamlined vendor access management
  • $600K reduction in compliance and audit costs

Risk Mitigation:

  • Estimated $15M+ in potential breach cost avoidance
  • Reduced cyber insurance premiums by 18%
  • Minimized regulatory fine exposure
  • Protected brand reputation and customer trust

Return on Investment:

  • Total 3-year TCO: $4.9M (implementation + licensing + operations)
  • Total 3-year benefits: $13.2M (savings + risk avoidance)
  • ROI: 169%
  • Payback period: 16 months

Singapore Market Context and Outlook

Alignment with National Initiatives

Maritime Financial’s implementation aligns with Singapore’s broader cybersecurity and digital transformation priorities:

Smart Nation Integration:

  • SGFinDex connectivity supporting government financial wellness initiatives
  • Singpass integration for customer authentication
  • Readiness for future government digital service mandates
  • Participation in national cybersecurity information sharing programs

Regulatory Leadership:

  • Early adopter of Cybersecurity Act 2024 requirements
  • Exceeded MAS Technology Risk Management Guidelines
  • Model for industry peers on identity security transformation
  • Active participant in Association of Banks Singapore working groups

Singapore Financial Services Trends

The solution positions Maritime Financial to address emerging industry challenges:

Rising Cyber Threats:

  • Singapore experienced 49% surge in phishing (2024)
  • Financial services remains #1 spoofed industry
  • 21% increase in ransomware targeting financial institutions
  • Identity-based attacks comprise 70%+ of successful breaches

AI and Automation:

  • 52% of IT leaders concerned about GenAI security risks
  • Growing adoption of AI agents requiring governance
  • Agentic AI creating new non-human identity management challenges
  • Need for real-time risk-based access controls

Cloud and Hybrid Complexity:

  • 91% of Singapore organizations experienced breaches (2024)
  • 92% operating hybrid cloud environments
  • Average breakout time for attacks: 48 minutes
  • Identity as primary attack vector in cloud environments

Talent and Skills Gap:

  • Persistent cybersecurity talent shortage
  • Need for automation to augment limited security teams
  • Complexity requiring consolidated platforms vs. point solutions
  • Training and upskilling requirements for modern identity security

Future Roadmap

Maritime Financial continues to evolve their identity security capabilities:

Near-Term (6-12 months):

  • Expand passwordless authentication to all customer touchpoints
  • Implement biometric authentication for high-value transactions
  • Deploy machine learning models for enhanced anomaly detection
  • Integrate with quantum-safe cryptography preparation

Medium-Term (1-2 years):

  • Extend platform to acquired entities in Vietnam and Philippines
  • Implement blockchain-based identity verification for supply chain partners
  • Deploy decentralized identity framework for customer self-sovereign identity
  • Enhance AI governance with explainability and audit capabilities

Long-Term (2-3 years):

  • Participate in ASEAN cross-border identity federation initiatives
  • Lead industry standards development for AI agent governance
  • Establish identity security as competitive differentiator
  • Explore zero-knowledge proof technologies for privacy-preserving identity

Lessons Learned and Best Practices

Success Factors

1. Executive Sponsorship The Chief Information Security Officer served as executive sponsor with direct Board oversight. Identity security positioned as business enabler, not just IT initiative.

2. Phased Approach 18-month phased deployment allowed for learning, adjustment, and stakeholder confidence building. Quick wins in Phase 1 built momentum for broader transformation.

3. Change Management Comprehensive training program reached 100% of employees. Champions network in each business unit facilitated adoption. Clear communication about security and productivity benefits.

4. Partner Ecosystem Strong collaboration between BeyondTrust, Ping Identity, and regional integrator Xalient. AWS Marketplace procurement simplified vendor management. Dedicated technical account managers provided ongoing optimization.

5. Measurement and Accountability Established clear KPIs from outset. Regular steering committee reviews with metrics-driven progress reporting. Transparent communication of results built organizational support.

Challenges and Mitigation

Challenge: Legacy application compatibility Mitigation: Phased migration approach with parallel systems during transition. Development of custom connectors for 15 proprietary applications. Vendor engagement for application modernization roadmap.

Challenge: Regional regulatory variation Mitigation: Flexible policy framework accommodating country-specific requirements. Local security teams involved in deployment planning. Regular consultation with regional regulators.

Challenge: User adoption resistance Mitigation: Extensive communication campaign highlighting productivity benefits. Power user program creating internal advocates. Executive role modeling and consistent messaging.

Challenge: Skills gap in identity security Mitigation: Vendor-provided training and certification programs. Hired specialized identity security architect. Developed internal center of excellence for knowledge sharing.

Recommendations for Similar Implementations

For Financial Institutions:

  1. Start with privileged account security – highest risk, fastest ROI
  2. Involve business stakeholders early – identity governance is not just IT
  3. Prioritize user experience – security adoption requires ease of use
  4. Plan for AI and non-human identities from the start
  5. Leverage cloud-based deployment for scalability and updates

For Singapore Context:

  1. Engage MAS early on major identity security changes
  2. Plan for SGFinDex and Singpass integration requirements
  3. Consider regional ASEAN expansion in architecture design
  4. Participate in industry working groups for knowledge sharing
  5. Monitor Cybersecurity Act amendments and prepare proactively

For BeyondTrust + Ping Identity Deployments:

  1. Take advantage of pre-built integrations and workflows
  2. Use DaVinci orchestration for custom business processes
  3. Implement Identity Security Insights early for baseline establishment
  4. Leverage AWS Marketplace for simplified procurement
  5. Engage both vendors in joint architecture planning sessions

Conclusion

Maritime Financial Holdings’ implementation of the BeyondTrust + Ping Identity unified identity security fabric demonstrates the transformative potential of integrated PAM, IAM, and IGA in addressing the complex security challenges facing modern financial institutions.

By breaking down silos between privileged access management, identity governance, and authentication, the organization achieved substantial improvements in security posture, operational efficiency, and compliance readiness. The unified platform provided visibility and control across 23,000+ identities—both human and non-human—while enabling rapid response to emerging threats and seamless support for digital innovation.

The Singapore context adds particular significance to this case study. Operating within one of the world’s most digitally advanced financial markets, facing sophisticated cyber threats, and navigating stringent regulatory requirements, Maritime Financial’s success offers a blueprint for regional peers pursuing similar transformations.

As financial institutions across Singapore and ASEAN increasingly adopt AI, expand cloud operations, and face growing cyber threats, the unified identity security approach pioneered by BeyondTrust and Ping Identity represents not just a technical solution, but a strategic imperative. Identity has indeed become the new perimeter, and organizations that master identity security will be best positioned to thrive in an increasingly digital and threat-rich environment.

Maritime Financial’s journey from fragmented, siloed identity systems to a unified, automated, AI-driven security fabric demonstrates that with the right technology partnership, phased implementation approach, and organizational commitment, even large, complex financial institutions can achieve transformative results.

The future of financial services security lies in intelligent, integrated platforms that can govern every identity, automate risk-based decisions, and enable innovation without compromising security. This case study proves that future is achievable today.

About the Partnership

BeyondTrust is the global leader in privilege-centric identity security, protecting Paths to Privilege™. The company’s identity-centric approach goes beyond securing privileges and access, empowering organizations to manage the entire identity attack surface and neutralize threats from external attacks and insiders. BeyondTrust is trusted by 20,000 customers, including 75 of the Fortune 100.

Ping Identity is a leader in securing digital identities for the world’s largest enterprises. Ping’s orchestration and authentication capabilities combined with identity governance enable organizations to trust every digital moment—moments with customers, employees, partners, and non-human identities. The platform is built for scale, speed, and flexibility, working seamlessly with existing technology stacks across cloud, hybrid, and on-premises environments.

Partnership Benefits:

  • Unified identity security fabric eliminating silos between PAM, IAM, and IGA
  • Automated orchestration of identity decisions across human and non-human identities
  • Real-time threat detection and automated response
  • Simplified procurement through AWS Marketplace
  • Joint technical support and solution optimization
  • Continuous innovation aligned to emerging threats and technologies

This case study is based on a composite of actual deployments in Singapore’s financial services sector. Specific customer names, financial figures, and implementation details have been anonymized to protect confidentiality.

Publication Date: December 2025
Version: 1.0
Contact: For more information about BeyondTrust + Ping Identity unified identity security solutions, visit AWS Marketplace or contact your regional account