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More Kudos for Salt Leadership in Delivering API Security to Financial Services Firms!

Michelle McLean
May 11, 2023

The accolades continue for Salt Security! Hot on the heels of being named in Inc.’s Best Workplaces 2023, our platform has now been included in the CyberTech 100 list, which highlights the top companies in cybersecurity for financial services organizations. These company recognitions also follow a slew of recent awards for us, among them the Ally Technology Peace of Mind award presented by Ally Financial, the largest US digital-only bank and auto finance company.

Along with winning the Ally award, being included in FinTech Global’s CyberTech 100 provides double acknowledgement of the impact we’re having on protecting the APIs of today’s leading financial services organizations. With their crucial role in enabling modern financial applications, such as mobile payment systems like Apple Pay and open banking services, APIs have become fundamental to the running of the financial ecosystem. And the financial services sector has adopted APIs more rapidly than any other industry.

Of course, with great usage comes great targeting – bad actors have figured out that APIs are everywhere, they’re poorly defended, and they’re highways to a company’s crown jewels. 

The recognition of Salt in the CyberTech 100 testifies to both the unique value we provide and the urgent need for purpose-built API security. The financial services industry is realizing that traditional security tools, such as WAFs, API gateways and bot mitigation, don’t fully protect their APIs and the critical data they transport. 

These tools look at attacks in isolation, but API attacks occur over days and weeks, as attackers do the reconnaissance needed to find security gaps. Our API data lake and time-tested ML/AI algorithms let us analyze billions of API calls in near real-time, delivering the adaptive intelligence required to detect and block API attacks.

More than half our customer base are financial services companies, who rely on the Salt Security API Protection Platform to protect their digital initiatives. As one Salt financial services customer wrote in a Gartner Peer Insights online review:

“As a financial company providing banking services, our clients rely on us to protect and secure their digital financial transactions…Because breaches have a devastating impact for FinTech services, security is always our first priority. And as a born-in-cloud division of a massive global company, all our products and services (including real time payments) run on APIs … Salt has shown us potential risks where we previously had no insights…”

Finastra has publicly detailed how Salt blocks 100s of credential stuffing attacks every day. Our platform detects anomalies, quickly separates them into malicious vs. benign, and then identifies the most crucial steps in the sequence of attacker activities.  Giving customers the option to manually or automatically block these attackers, early in their reconnaissance phase, means Salt is taking action before these bad actors can steal data or otherwise put systems at risk. Our latest enhancements, which we showed off a couple weeks ago at the RSA Conference,  inform organizations about the severity of a potential threat. By prioritizing threats, Salt helps you focus on the most dangerous ones first. 

We’re very proud to have our technology honored with this award, but we are even more proud to help our customers realize their digitalization goals, enabling them to safely innovate and serve their customers. If your organization develops or uses APIs, and you would like to understand more about securing these vital assets, we invite you to contact Salt to speak with one of our experts or set up a customized demo. If you want to be informed about the latest API security trends, you can also subscribe to our blog.

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