Launched in 2021, the all-digital bank ensures that its infrastructure offers maximum inventorying, visibility and end-to-end monitoring of all APIs used
As the first neobank in the Philippines reaches out in South-east Asia to clinch lending opportunities, it has had to take note of cybersecurity warnings by research firm Gartner that application programming interfaces (API) will be the top attack vector for web applications in 2022.
In order to ensure that its digital efforts incorporate robust measures that protect both the bank and its customers, Tonik has opted to use a Software-as-a-Service solution to validate the health of the APIs it uses in its dealings with various external parties.
The neobank, which operates in hubs across Manila, Singapore, Kyiv and Chennai, had dictated the acquisition of a complete, real-time inventory and monitoring solution for active APIs so that its IT personnel can discover and analyze legacy and dormant APIs. The system they had in mind also had to allow active testing of APIs before roll out.
According to the neobank’s Group Chief Technology Officer, Arivuvel Ramu: “We chose the Noname Security API Security Platform after a proof-of-value test and we are happy that it meets our (priority) to ensure that APIs deliver the performance and security required for compliance as well as a great digital experience for consumers.”
Ramu said the abovementioned platform was “also chosen for its ease of use, Software-as-a-Service (SaaS) licensing model, non-intrusiveness, and the ability to integrate with the bank’s back-end workflow solution.”
With automated and dynamic tests built into API development, enterprises such as Tonik can effectively resolve any security issues before they take root, according to ,” noted PK Lim, Vice President (Sales, Asia Pacific), Noname Security: “We are pleased that Tonik has placed its trust in our expertise and experience to help secure an important component of their digital business.”