API security leader highlighted among top companies in cybersecurity for financial services
Palo Alto, Calif. – May 11, 2023 – Salt Security, the leading API security company, announced today that it has been named in the CyberTech 100 list for 2023. The list highlights the most innovative CyberTech companies strengthening the cyber defenses of financial institutions worldwide. Sponsored by FinTech Global, the CyberTech 100, now in its fourth year, considered more than 1,000 firms for the list. A panel of analysts and industry experts selected the finalists from a list of more than 1,000 companies. Winning companies were chosen based on their ability to solve a significant industry problem or generate cost and efficiency improvements in security.
“Because application programming interfaces (APIs) transfer the critical and sensitive information enabling today’s innovative digital financial applications and services, they have become a prime target for cyber attacks,” said Roey Eliyahu, co-founder and CEO, Salt Security. “We thank FinTech Global for celebrating the unique approach Salt provides financial institutions to address API security. This recognition brings greater awareness to the financial industry about the significant risks of this growing attack surface.”
The Salt Security API Protection Platform leverages its API data lake and time-tested machine learning (ML) and artificial intelligence (AI) to provide the adaptive intelligence needed to detect and block API attacks. Financial institutions, including City National Bank, OneMain Financial, Finastra, and New American Funding, depend on the Salt API security platform to protect their APIs and continue to safely innovate digital initiatives. According to the Salt Labs State of API Security Report, Q1 2023, attackers have increased their activity with a 400% increase in unique attackers in the last six months.
“As challenges such as ransomware, phishing and data breaches still plague financial institutions, there has never been a more important time for businesses to use CyberTech solutions,” said FinTech Global director Richard Sachar. “With the average cost of data breaches being in the millions, it is critical firms look for the solutions that can guarantee their protection, particularly as the tough economic climate puts pressure on finances. This year’s CyberTech100 list arms companies with the necessary information to find the industry change-makers who are providing companies with the opportunity to be well protected against these threats.”
Full list of the CyberTech100 and detailed information about each company is available to download at www.CyberTech100.com.