Case Study 8: Laying the Foundation of API Security for a Financial Platform
Challenge:
The financial platform was in dire need of enhanced API security to meet tough industry regulations and compliance requirements. Existing security framework was not so much robust in authentication and authorization which really left the system open to potential breaches, unauthorized access, and violation of compliance. They really needed something good as a security solution to protect sensitive financial data building trust on both regulators as well as users.
Solution:
Established several API security implementations. By OKRUTI in a multi-layered framework:
– OAuth 2.0 & JWT Authentication: Token security against unauthorized access.
– API Gateway Security: Limited rate, IP whitelisting, and request validation were implemented.
– Encryption and Secure Transmission: TLS encryption is strictly for finance-sensitive transactions.
– Threat Monitoring and Logging: Integrated with a real-time monitoring system to circumvent and mitigate suspicious activity.
This improvement went on to assure end-to-end security while achieving high performance and usability of the API.
Results achieved:
✔ APIs security and compliance fully in line with the financial regulations.
✔ Closed security loopholes with unauthorized access and data breaches.
✔ Enhanced trust with users, financial regulations, and stakeholders.
✔ Performance in terms of API was optimized and fast without compromising on security.
Feedback from a customer:
“Okruti made our APIs great in terms of security. They are secure, strong, and industry standards-compliant.”