Open Banking

Cybersecurity Solutions For Open Banking

Ensure the security and availability of your data, APIs, services and apps.

Safeguard The Digital Banking Experience

Open banking is revolutionizing the way customers access financial services. At its core, open banking is the ability to share customers' financial information through open application programming interfaces (APIs), enabling fintech service providers to build and offer innovative services.

The use of publicly available APIs, however, means a broader threat surface that needs to be protected against abuse and malice. To ensure customer loyalty and safeguard their brand, banks and fintech institutions must deliver digital banking solutions that provide a secure experience for today’s tech-savvy consumers.

 

Top Three Concerns For Open Banking Providers

API attacks have become the most frequent attack vector, causing data breaches for enterprise web applications. Gartner predicts that more than 30% of the increase in demand for APIs will come from AI and tools using large language models (LLMs) by 2026. The API security challenge requires threat coverage, easy integration and complete visibility for both documented and undocumented APIs.

An Increased Attack Surface

Radware research shows that 70% of organizations experience monthly DoS attacks against their APIs. New threat vectors include client-side attacks, AI-assisted attack tools and business logic attacks.

Bot Attacks on APIs

Bot attacks are automated programs scripted to break into user accounts, steal identities and commit payment fraud. They can scrape content, pricing, coupons or data, and they spread spam or propaganda, impacting business activities.

Prevent Service Disruption

Dependence on third-party APIs and components may lead to unintended disruptions if APIs are unavailable due to security, network and application configuration errors, API DOS attacks or application or authentication infrastructure outages.

Secure Open-Banking APIs with Radware

Radware’s application and infrastructure protection solution is designed to secure APIs from DDoS, application and bot attacks. It protects APIs against vulnerabilities, manipulations, excessive permissions, entitlements and malicious user activity. It also prevents service disruptions while addressing trust and security concerns of customers migrating to a multi-cloud or hybrid deployment.

Radware integrates with various enforcement points to apply security policies, signatures and rules in a uniform manner regardless of where the application resides.

Application and API Protection

Real-time Automated Protection for Open Banking APIs

Radware provides bot management, comprehensive API security and full support for the OWASP Top 10 for API and applications. It prevents client-side, DDoS and business logic attacks while providing scalability, availability and threat intelligence.

Continuously Adaptive Security

Radware application protection continuously detects changes to application and user behavior to ensure applications and APIs stay secure.

Adaptive Security
Deployment For Any Architecture

Flexible Deployment for Any Architecture and Platform

Radware lets you grow and scale your application security for all environments, from Kubernetes to self or managed deployments for on-premises and cloud environments.

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