API Security for Financial Services
In terms of API Security, APIs enable financial institutions to create new digital products, improve customer experience, and streamline internal processes, but they also introduce new security risks. Financial institutions must ensure that their APIs are secure to protect sensitive customer data, maintain compliance, and prevent fraud.
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Crippling
API Sprawl API sprawl is a common problem for finserv and fintech organizations. They are constantly contending with a loss of control in a distributed ecosystem.
This creates unknown exposure, an unknown attack surface, and additional risk. -
Regulatory Compliance
Finserv and Fintech must adhere to several compliance mandates, including PCI-DSS, FFIEC, and numerous data protection laws.
Being out of compliance with any one of them can result in hefty fines and other penalties. -
Highly Valuable Data
Sensitive data including personally identifiable information (PII), credit card numbers, SSN, and many other sensitive data types.
There are serious financial and reputational consequences in the event of a data breach.
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Reduce
Business RiskDiscover and catalog all APIs in your environment and know your security posture. -
Stop API Abuse and FraudStop API attacks that lead to sensitive data exfiltration, API abuse and API fraud. -
Maintain ComplianceAlign with the latest FFIEC guidelines and other requirements for data protection.
Get Control Over Your API Ecosystem
Financial Services organizations can have tens of thousands of APIs, and need to support billions of API calls.
And unfortunately, rapid development often leads to a huge number of APIs that the organization is unaware of.
Most simply don’t have visibility into how many APIs they have, where those APIs reside, and what those APIs are doing.
Download this whitepaper to learn:
1. The factors driving API Sprawl and how to start addressing the real problem
2. How the complexity of APIs contributes to further challenges and deeper API sprawl
3. The consequences of not getting a handle on API sprawl
4. How you can start to tackle API sprawl and benefit from a well-managed API ecosystem
the Next Massive Data Breach
Unfortunately, many large financial organizations simply do not know how many APIs they have in their environment, where those APIs reside, and what those APIs are doing.
Traceable automatically discovers all of your APIs in a data-rich catalog for a complete always up-to date inventory of your API ecosystem. This includes HTTP, RESTful, GraphQL, SOAP, XML-RPC, JSON-RPC, and gRPC.
This ultimately addresses API sprawl, also identifying any shadow and orphaned APIs, and notifies of any real-time API changes. Traceable maps your app topologies, any data accessed by any APIs, and data flows, including connectivity between edge APIs, internal services, and data stores.
Sophisticated machine learning and AI that thoroughly analyzes APIs in real time.
Traceable monitors how your API endpoints are communicating and how your application services are behaving.
We use our machine intelligence to send ONLY valid alerts – whether its highly anomalous user behavior or an anomalous flood of incoming API calls from a foreign IP address.
Extensive coverage for the OWASP API top 10, top CVEs, such as Java, Go, Node JS, AuthN, AuthZ, and many more, business logic vulnerabilities, and sensitive data exposure.
Uniform API testing is based on dynamic payloads for standard tests, and dynamic Traceable payloads for business logic vulnerabilities such as BOLA
Platform in action
Cloud Scale
Traceable delivers API security at massive scale. This is especially important for large financial organizations.
Traceable currently supports very large deployments consisting of thousands of API endpoints, and billion of API calls -- with flexible data collection and deployment options, including agentless or agents, depending on your needs:
1. fully out-of-band via network log analysis of AWS, GCP, and Azure Clouds,
2. Collection by instrumentation within your API gateway, proxies, or service mesh, and
3. in-app data collection through instrumentation by language-specific agents or socket filtering.
For highly regulated industries, we can also be deployed 100% on-premise in a fully air-gapped model, without sacrificing protection, speed or scalability.
Threat Intelligence and
Root Cause Analysis
It would be impossible to have effective API security without robust analytics and threat intelligence capabilities, that power root cause analysis, forensic research, and incident response.
1. API security data lake: you need to ability to collect and analyze the end-to-end path trace of all API calls and service behaviors. An API security data lake allows your SOC team, incident responders, threat hunters, as well as red teams and blue teams to conduct instant security analysis and root cause analysis.
2. Understand API traffic and user attribution: Understand API traffic history of user attributed transactions, sequences, and flows and perform post mortem reviews and analysis for any API security incidents.
3. Threat Hunting to reveal unknown API vulnerabilities: Perform threat hunting to reveal potentially unknown API vulnerabilities and visualize user behavior analytics to uncover fraud and abuse.
This level of security analytics enables SOC teams and threat hunters to optimize APIs and service behaviors to prevent the possibility of any data breach, ransomware, abuse, or data exfiltration.
Zero Trust API Access
Enable Zero Trust API Access to Improve Enterprise and Data Security.
Today’s cloud-based, API-driven, microservices-based applications all extensively operate using APIs to communicate between users/NPE’s (non-person entities) to applications, and between applications and application components.
API Security solutions are essential to aligning Zero Trust thinking with the realities of today’s application architectures and extending the Zero Trust security model to the full application stack.
However, to date, APIs have been largely neglected by Zero Trust models. In addition, digital transformation demands and DevSecOps processes at organizations have created new gaps and vulnerabilities attackers can exploit.
Traceable's API security supports your Zero Trust Security initiatives. We also map to the NIST Zero Trust framework, as it covers reference architecture, data security, as well as compliance measures for defense in depth security.
Platform in action