One of the largest banks in the United States believed that cloud-based DDoS mitigation services can safeguard its network and data centers.
Overtime realisation dawned that the bank’s attack mitigation methods were ineffective, leading to increased network downtime. It resulted in lost business: The bank’s customers were blocked and financial transactions were stopped. It was then the bank decided to look for solutions to supplement their cloud-based DDoS.
The banking and financial services sector has always been the target of cybersecurity attacks. While adoption of new encryption technology bolsters security, it also adds latency and infrastructure-capacity issues.
In their rush to embrace digital transformation and deliver enhanced customer experience, banks and financial institutions have made themselves vulnerable to malware, breaches, and social engineering attacks. Attacks targeting application resources are rising with 40 percent of financial services organisations experiencing DDoS attacks over the past few months.
To ensure business continuity in the face of such threats, organisations require an integrated and automated security solution with capabilities to detect traffic anomalies and mitigate threats in real-time.
Today, it is a given for any banking or financial institution to provide cloud-based services and applications. However, ensuring automation, availability and disaster recovery in mixed environments poses myriad challenges. Radware understands the financial industry’s needs to ensure secured application delivery and business continuity. Its comprehensive suite of advanced security solutions protect digital assets both on-premise and in the cloud.
Radware helps the financial sector to safeguard banking applications and deliver a superior customer experience in the following ways:
- Maintaining business continuity and service availability: Banks expect their applications and information to be available 24×7. Radware’s security solutions make financial service institutions resilient to cyberattacks with hybrid protection that combines on-premise with cloud. This level of protection enables financial institutions to streamline operations, ensure SLAs, and drive scalability and automation across multiple environments.
- Uncomplicating cloud migration and exercising control over digital assets: Moving to the cloud results in multiple environments, which may limit the level control exercised over the network. Application delivery across heterogeneous environments must be automated and protected. Radware’s application delivery solutions takes care of financial institutions’ requirement for flexible deployment options that suit any customer use case and network topology.
- Protecting financial data from application-based cyberattacks: Traditional anti-malware defences are ill-equipped to protect mission-critical web applications from attacks. To protect institutional digital assets, security solutions should be integrated with enterprise gateways and endpoints. Radware’s WAF solutions deliver the much need security with machine-learning to provide protection against threats and attacks.
- Providing emergency assistance to secure data: Radware’s Emergency Response Team provides 24×7 security support for financial institutions. Financial institutions can leverage Radware’s patent-protected technology to create and maintain security policies in real time. For organisations that have limited resources, Radware’s Cloud WAF Service as well as a fully managed WAF solution ensures complete web protection.
Radware (NASDAQ: RDWR), is a global leader of application delivery and application security solutions for virtual, cloud and software defined data centers. Its award-winning solutions portfolio delivers service level assurance for business-critical applications, while maximising IT efficiency. Radware’s solutions empower more than 10,000 enterprise and carrier customers worldwide to adapt to market challenges quickly, maintain business continuity and achieve maximum productivity while keeping costs down. For more information, Please visit www.radware.com.
(Views expressed in this article are a personal opinion of Nikhil Taneja, Managing Director-India, SAARC & Middle East)