Tuesday, March 5, 2024

Neobank Tonik taps Noname Security to boost API security

Noname Security, a vendor providing proactive API security platform, has been chosen by Tonik – the Philippines’ first neobank — to help safeguard a critical component of its digital platform as it seeks to address new retail lending opportunities in Southeast Asia.

Tonik group chief technology officer Arivuvel Ramu

Tonik has selected the Noname API Security Platform to ensure that its digital efforts, which have accelerated during the pandemic, incorporate robust cybersecurity measures that protect both the bank and its customers. According to a report by research firm Gartner, APIs will be the top attack vector for Web applications in 2022.

To address this, the Noname API Security Platform provides Tonik with the means to validate the health of the APIs it uses. The neobank can now have a complete, real-time inventory and monitor active APIs efficiently as well as discover and analyze legacy and dormant APIs. The platform also enables the bank to actively test APIs before production so that it can identify potential flaws in its software development lifecycle.

Noname Security 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.

“We chose the Noname API Security Platform after a proof-of-value test and we are happy that it meets our expectations of a top-notch API security solution,” said Arivuvel Ramu, group chief technology officer of Tonik. “It is a priority for us to ensure that APIs deliver the performance and security required for compliance as well as a great digital experience for consumers.”

“We are pleased that Tonik has placed its trust in our expertise and experience to help secure an important component of their digital business,” said PK Lim, vice president sales for Asia Pacific at Noname Security.

“With automated and dynamic tests built into API development, enterprises like Tonik can more effectively resolve any security issues before they take root,” he noted.

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