Stack Identity Unveils SEBI-Aligned Solutions for REs' Compliance Needs

Silicon Valley based startup Stack Identity with R&D operations in Pune, India has announced it has launched the first “Out-of-the-Box” solution to help regulated entities such as stock exchanges, clearing corporations, depositories, stockbrokers, asset management and KYC registration to be compliant to the Framework for Adoption of Cloud Services established by The Securities and Exchange Board of India (SEBI) for its (REs) in March 2023.

The recently released Shadow Access Impact Report at Black Hat, in early Aug 2023 shows that 96% of identities in cloud environments are non-human or machine identities. Ramanand Kambli, Global Business Head at Stack Identity said, “Over time, these identities and their entitlements have generated significant challenges for cloud operations and security teams as they create an accumulation of invisible, over-permissive, unmonitored, and ungoverned access to business applications and data. These are the types of Shadow Access in the cloud that attackers have been using to breach or ransom data. SEBI’s compliance guidelines help address these risks and are an important step to protect India’s growing influence in the global financial sector. Stack Identity has been working with multiple customers in this regulated market in India to identify and reveal risks.”

Dr. Prakash Shetty, Director - Worldwide Customer Success and Product Strategy of Cloud Security and Operations at Stack Identity stated, “We are the industry’s first Identity Security Data Lake which helps customers to continuously monitor and assess compliance and risks of identity and access controls across their cloud environments. Our solution can run both as a SAAS or in customer environments and generate automated evidence in 60 minutes for customers, independent service providers or auditors

Stack Identity’s Identity Security Data Lake has a patent pending intelligence algorithm built-in to further provide a prioritized list of access risks to customer's cloud data and help them govern it. The SEBI framework mentions SOC-2 compliance in its framework, which Stack Identity supports, in addition to other compliance standards such as CIS, PCI-DSS, HIPAA and FedRAMP.