Bengaluru, India – April 24, 2024: Akamai Technologies, Inc. (NASDAQ: AKAM), the cloud company that powers and protects life online, today announced that its API Security product has achieved the latest (version 4.0) Payment Card Industry Data Security Standard (PCI DSS) compliance. As part of this process, specific requirements that pertain to APIs were added. PCI DSS is a set of security standards designed to ensure that organizations that store, process, or transmit credit card information have effective security measures in place. APIs play an essential role in PCI DSS compliance, as they can be used to handle sensitive cardholder data and facilitate payment processing. Because PCI DSS is a global standard, it sets a precedent for implementing similar practices.
In the Asia Pacific (APJ) region, one of the challenges when it comes to data privacy and protection is the lack of a common framework. The diversity in regulatory structures across countries makes it difficult to determine which framework for privacy is most important, leading to inconsistencies in protection standards and complicating compliance efforts for multinational businesses. In addition, the APJ region is one of the highest spenders on digital technology and services globally that is largely driven by e-commerce and finance. Hence, the need for PCI compliance is seen as a crucial addition to safeguarding the vast amount of sensitive payment data, that traverse APIs protected by Akamai’s API Security product in the region.
“PCI compliance is paramount in APJ, especially in safeguarding sensitive customer payment data during financial transactions. With the surge of digital payments across the region, ensuring robust security measures becomes non-negotiable. Protecting customer data isn’t just a requirement but it is a commitment to trust and reliability in an increasingly interconnected world powered by APIs, where the risks of cyberthreats remain at an all time high,” said Reuben Koh, Director of Security Technology & Strategy, APJ, Akamai Technologies.
Akamai also announced that it has seen great demand for its API Security offering since its acquisition of Neosec last year. Customer demand has risen over 200% since its launch in August 2023. This strong trajectory can be attributed to adding the native connector feature, which allows for production deployment in minutes and the ability for API Security to instantly block threats using App & API Protector, as well as offering integrations for deployment across leading WAAP and API gateway platforms. In addition, Akamai API Security works seamlessly with other tools, like Apiiro’s ASPM offering, to help organizations shift left.
The importance of API security was driven home by findings from Akamai’s latest State of the Internet report. It found that nearly one-third of web attacks target APIs.
Customers across various industries, from hospitality to retail, praise Akamai’s API Security for its effectiveness, intuitive use, and real-time monitoring capabilities, emphasizing its role in enhancing their operational security and user experience.
Clal Insurance and Finance is a leading insurance and savings company. Haim Inger, CTO of Clal, says that he relies on APIs to drive innovation, and chose Akamai API Security due to its performance and ease of use. “We didn’t need to do anything to understand the state of our API estate. After ingesting tokenized data about our APIs, the Akamai solution automatically delivered insights into what needed to be fixed and how to fix it.”
Additional customer comments from Gartner® Peer Insights™ include:
“Akamai offers real-time monitoring, providing instant visibility into potential security incidents and enabling rapid response. It has efficient control over API usage with rate limiting mechanisms to prevent abuse and ensure resource availability.” — Salesforce Administrator in IT services
“Akamai API Security Platform offers a robust and user-friendly solution for securing APIs in modern applications. With its comprehensive feature set and effective threat mitigation capabilities, it stands as a valuable investment for organizations prioritizing API security.” — Engineer in the retail sector
“Akamai API Security has excellent features with improved overall performance and security. It offers easy integration with existing systems and workflows. Akamai’s solutions are designed to scale, catering to the evolving needs of growing businesses without compromising security. It also maintains industry standards and regulations, ensuring a secure and compliant API environment.” – Senior Automation Test Analyst in IT services
“Based on customer inputs, it’s clear that the importance of API security continues to grow as organizations rely more and more on APIs to run their enterprise,” said Rupesh Chokshi, Senior Vice President and General Manager, Application Security at Akamai. “Akamai’s PCI DSS–compliant API Security gives organizations the ability to monitor API behavior in any platform or gateway to ensure that businesses are running smoothly and securely.”
To see use cases of how organizations are using API Security to enable full visibility into their entire API estate through continuous discovery and monitoring, please read our HiBob, EarnIn, and Dan Hotels customer stories.
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