Driven by demands for tighter integration with their platforms, banking institutions are developing APIs which enable partners to directly integrate financial information back into their internal systems. One of the key concerns is ensuring the security of cardholder data to meet PCI compliance requirements. Many banks use in-house systems to manage API access and deliver foundational security—including managing API keys and providing granular access control services. However, these banks also require strong protection against cyberattacks which could compromise the API service and accessible PCI data.
Elastic Beam API Behavioral Security is deployed to monitor API transactions and report any suspicious activity, including attacks on the banking applications and data systems. A bank deploys Elastic Beam API Security Enforcers and API Behavioral Systems to provide an API security overlay on top of the API management platform already deployed. Using AI techniques to analyze API transactions, Elastic Beam automatically blocks malicious activity and provides security analysts deep insight into API activity, including the detailed information needed for PCI compliance reporting – at scale.