L7 Defense’s Ammune™ technology protects financial institutions from sophisticated API attacks, utilizing its state-of-the-art AI/ML-based Ammune technology and solution
L7 Defense, a leading provider of API security, announced today that it has joined the Financial Data Exchange (FDX), a nonprofit organization dedicated to unifying the financial industry around a common, interoperable, royalty-free standard for secure and convenient consumer and business access to their financial data.
APIs have become the primary interconnection mechanism to and from systems and applications enabling agility, flexibility, and interconnection. With the move to mobile platforms, the digital transformation, the Second Payment Services Directive (PSD2) and the Open Banking revolution, APIs have become more essential than ever for the financial sector.
However, the growing popularity and use of APIs make them a popular target for threat actors, posing a security challenge to financial organizations. The fast-growing number of major security breaches leaves organizations and users exposed to new API-related attack vectors that render traditional security solutions obsolete. It is obvious that AI-based API protection is the optimal answer for addressing these security threats.
“L7 Defense’s Ammune™ technology protects financial institutions and other traditional and cloud-based operations from sophisticated API attacks, utilizing its state-of-the-art AI/ML-based Ammune technology and solution”, explained Doron Chema, CEO at L7 Defense. “With L7 Defense Ammune, the financial industry gains an extremely accurate, real-time API protection solution that operates in a highly complex landscape of legitimate and malicious internet traffic with a very high accuracy and detection rate.”
"We are delighted to have L7 Defense join FDX!” stated Don Cardinal, Managing Director at FDX. "Every member of FDX brings valuable insights and innovation into our consortium which ensures that the FDX API-standard and associated use cases represent the best thinking and solutions in the financial industry. We are excited to welcome the company to the FDX ecosystem."
About L7 Defense
L7 Defense helps organizations protect their infrastructure, applications, customers, employees, and partners against the growing risk of API-borne attacks. APIs have become critical for data sharing and applications integration and have become an attractive path for malicious attacks that expose organizations to new, continuously evolving threats. With a team of experienced leaders and innovators, L7 Defense revolutionizes the way organizations protect their APIs from attacks and exposure using disruptive, AI-based technology.
AmmuneTM, L7 Defense’s core technology has recently received an award for its API Security solution by Frost & Sullivan, in recognition of its unique AI/ML approach to API security.
For more information about L7 Defense and its products, visit: www.L7Defense.com
About the Financial Data Exchange
Financial Data Exchange, LLC, is a nonprofit organization dedicated to unifying the ?nancial industry around a common, interoperable, royalty-free standard for secure and convenient consumer and business access to their financial data. FDX empowers consumers through its commitment to the development, growth, and industry-wide adoption of the FDX API, according to the principles of control, access, transparency, traceability, and security. Membership is open to financial institutions, fintech companies, consumer advocacy groups, and other industry participants. FDX is an independent subsidiary of FS-ISAC.
For more information and to join, visit www.financialdataexchange.org
