WHY API SE IS IMPORTAN MORE THAN
SPECIALIST INSIGHT
Richard Bird , Chief Security Officer , Traceable
Traceable , a leading API security and observability company , is helping financial institutions across the US to meet the latest FFIEC cybersecurity compliance mandate . Richard Bird , Chief Security Officer , Traceable , tells us more .
In October 2022 , the Federal Financial Institutions Examination Council reinforced significant updates to meet cybersecurity mandates for financial institutions across the United States . This update explicitly called out APIs as a separate attack surface in regulatory guidelines that represented a significant shift in compliance trajectories and highlighted the increased threats that APIs pose .
The FFIEC specifically created these new guidelines prompting financial institutions to inventory APIs as part of their overall inventory of information systems and risk assessments . APIs , when not carefully identified and secured , can be compromised in seconds – putting businesses and their customers ’ sensitive data at significant risk .
In response , Traceable , a company focusing on security for APIs , is working with top financial institutions across the globe to enable businesses to secure the APIs and comply with the FFIEC ’ s new guidelines Here , Richard Bird , Chief Security Officer at Traceable , tells us about APIs and what these new regulations mean for financial institutions across America …
Can you tell us more about the FFIEC and its recent updates concerning cybersecurity and financial institutions ?
The FFIEC is an interagency body that prescribes updated principles and standards for financial institutions within the United States . It is sometimes referred to as if it ’ s a singular agency , but it ’ s the combination of multiple agencies with interests in the financial sector .
In the US , financial regulations are interesting and complex . So , the
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