Page 24 - Banking Finance July 2025

ARTICLE

Something you know (password or PIN) Steps Toward Implementation
Something you have (a mobile device or token) Establishing a Zero Trust Framework requires systematic and

Something you are (biometric data like fingerprint or thoughtful rollout, not a quick shift. The first step is to as-
facial recognition) sess the current security framework by identifying existing
vulnerabilities and access patterns. Institutions must define
MFA significantly reduces the risk of unauthorized access- their protected surface, which includes the most critical
even if credentials are stolen-by adding barriers that attack- data, applications, and systems that require maximum se-
ers must overcome. curity.

Three Elements of the Zero Trust Model Implementing strong identity and access management is
foundational-this includes deploying multi-factor authenti-
Verify Every User: We have to continuously verify ev- cation, single sign-on, and user behaviour analytics. Seg-
ery request that we get from an unknown or known
menting the network into smaller, policy-enforced zones
user within the network, businesses that rely solely on helps contain breaches and prevent unauthorized move-
one authentication technique, such as single sign-on, ment across systems. Continuous monitoring, backed by
frequently run into problems. To avoid this, Single Sign-
analytics and threat intelligence, ensures that anomalies are
On must be balanced with other technology, such as
detected in real time. Equally important is educating staff
multi-factor authentications (MFA).
on Zero Trust principles and ensuring that all third-party
Validate Every Device: To ensure real safety, devices partners align with the same security standards.
must also have adaptive MFA (Multi-Factor Authenti-
cation (MFA)) for multi-layered protection. Future Outlook
Intelligently Limit Access: Understanding who utilizes As cyber threats evolve, Zero Trust will play a pivotal role in
an organization's resources is the final component of shaping the future of secure banking. Emerging technolo-
Zero Trust i.e. Who is utilizing how many resources and gies like artificial intelligence and machine learning will fur-
on which device, this ensures that a user is functional, ther enhance Zero Trust by enabling predictive threat de-
has access to the accounts they require, and that de- tection and automated response mechanisms. With cloud
vices are configured with the correct clients from day adoption accelerating, cloud-native Zero Trust solutions will
one. If they switch their positions, then their login cre- become essential for managing access across hybrid and
dentials will be immediately withdrawn, and the ses- multi-cloud environments.
sion will be ended providing no further access to the
network. Beyond technology, the widespread adoption of Zero Trust
reflects a cultural transformation-where trust is earned and
Implementation Challenges verified, not assumed. For financial institutions seeking to
strengthen resilience, ensure compliance, and protect stake-
Despite its advantages, implementing Zero Test can pose
holder trust, Zero Trust is not just a best practice-it is a
significant challenges. Many banks still operate legacy sys-
tems that lack modern security capabilities or integration necessary evolution.
support. The cultural shift required to adopt a Zero Trust
approach can also face resistance, especially in organizations Conclusion
with deeply rooted hierarchical or siloed structures. Zero Trust Architecture marks a significant shift in how fi-
nancial institutions protect their data, infrastructure, and
Additionally, the complexity of implementing Zero Trust- customers in a hyper connected world. By eliminating im-
along with the associated costs of new technologies, infra- plicit trust and enforcing continuous verification, banks can
structure upgrades, and staff training-can act as a barrier. build stronger defences against both internal and external
Striking a balance between robust security and a seamless threats. Although implementation may be complex, the
user experience is essential to ensure staff productivity long-term gains in security, compliance, and operational
and customer satisfaction remain unaffected during the integrity make Zero Trust a pivotal strategy for the future
transition. of banking.

22 | 2025 | JULY | BANKING FINANCE