As it revolutionizes the way money works in South East Asianeobanking reinforces an essential component of cybersecurity in an interconnected online world.
SINGAPORE, June 7, 2022 /PRNewswire/ — Nameless Securitythe complete proactive API security platform, was chosen by Tonik – The Philippines’ first neobank to help protect a critical component of its digital platform as it seeks to capture new retail lending opportunities in South East Asia.
Tonik 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 a research firm GartnerAPIs will be the primary attack vector for web applications in 2022.
To address this issue, 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 effectively monitor active APIs as well as discover and analyze legacy and dormant APIs. The platform also allows 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 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 are pleased that it met our expectations of a best-in-class API security solution,” said Arivuvel Ramu, Director of technology of the Tonik group. “It’s a priority for us to ensure APIs deliver the performance and security required for compliance as well as a great digital experience for consumers.”
“We are delighted 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 of Asia-Pacific Sales at Noname Security.
“With automated and dynamic testing built into API development, companies like Tonik can more effectively resolve any security issues before they take root,” he noted.
Tonic (www.tonikbank.com) is the first fully digital neobank in The Philippines, providing loan, deposit, payment and card products to consumers on a highly secure digital banking platform. The neobank operates on the basis of the first private digital banking license issued by the Bangko Sentral ng Pilipinas. Tonik is led by a team of retail finance veterans who have previously built and grown several retail banks and fintechs in global emerging markets. It is backed by the best international venture capital funds. Tonik operates from hubs in Singapore (headquarters), Manila, Chennaiand Kyiv.
About Nameless Security
Noname Security is the only company to take a comprehensive and proactive approach to API security. Noname works with 20% of the Fortune 500 and covers the entire API security perimeter on three pillars: posture management, runtime security, and API security testing. Noname Security is a private, remote-first company headquartered in Silicon Valley with offices in Tel Aviv and amsterdam.