Find out how Checkmarx and AWS have partnered to assist your monetary companies agency adapt to the evolving panorama
The best way we financial institution has modified past recognition. The place transactions as soon as occurred in particular person inside the partitions of spectacular buildings, we now see cell and on-line banking on the rise. Wherever, anytime, palm-of-your-hand banking is the norm, and our expectations are formed by the seamless, customized app experiences which have turn into the default within the digital universe. On the identical time, the worldwide acceleration of digital banking licenses has created a brand new aggressive panorama populated by fast-moving market entrants and born-in-the-cloud suppliers.
One factor that hasn’t modified, although, is the place of belief on the cornerstone of the banking system. Certainly, in immediately’s unstable financial and cybersecurity surroundings, constructing model belief is extra essential than ever. Whether or not you’re a legacy model or a brand new market entrant, any lack of belief compromises your capacity to succeed.
So monetary companies companies face a seamless problem: methods to innovate on the pace required with out compromising buyer security and system safety? Most are turning to the cloud for solutions. Its flexibility and scalability are making it central to monetary service organizations’ efforts to embrace new developments and ship revolutionary companies at tempo.
AWS has some intriguing options to satisfy the problem. The cloud chief supplies a full suite of companies to assist banks obtain the agility to thrive within the digital age, whereas licensed companions reminiscent of Checkmarx make sure the safety of the functions and companies banks develop.
Just lately, the workforce at AWS recognized seven key developments which can be impacting the monetary companies business. Right here we take a deep dive into three areas the place AppSec is very related and discover what they imply for the sector.
Pattern 1: Buyer expertise — speed and safety have to be twin priorities
In the present day, the financial energy is passing to a digital-native era with little loyalty to legacy banking manufacturers and nice expectations of how private and enterprise monetary companies ought to carry out. This implies buyer expertise is the fashionable industrial battleground. Banking have to be hyper-personalized and service-led. More and more, banking is built-in into customers’ day-to-day journeys via embedded monetary companies inside trusted manufacturers reminiscent of Starbucks and Uber.
Banks are leaning closely on AI and machine studying to foretell buyer wants via evaluation of inner and exterior datasets, whereas the omnichannel drive continues via options reminiscent of authentication primarily based on voice recognition, real-time sentiment evaluation of customer support calls, chatbot help, and automatic self-service choices.
AWS helps these initiatives and plenty of extra via cloud-powered huge knowledge evaluation that permits banks to leverage AI and machine studying on an enormous scale. It additionally, in its personal phrases, “helps compress time to innovation and, ultimately, time to value, by facilitating rapid development, testing, and deployment to produce new ideas and customer propositions.”
AWS permits banks to speed up innovation via its cloud-native software improvement companies, however in addition they want to make sure the code they create is safe and resilient. Attaining software safety assurance with out placing a brake on supply pace is essential. Nonetheless, a latest Checkmarx survey of banking and insurance coverage CISOs discovered that 84% of respondents present process digital transformation and implementing a cloud-native technique have been involved about safe software improvement and deployment.
As an AWS accredited companion, Checkmarx understands that safety should work on the pace of DevOps. The Checkmarx One
Software Safety Platform is designed for the cloud improvement era and delivered from the cloud, bringing built-in one-click AppSec testing that permits monetary companies corporations to deploy safer code — quick.
Pattern 2: Ecosystem-based banking and banking-as-a-service — APIs take heart stage
The open banking period is unlocking the doorways to larger innovation and collaboration. Suppliers can now seize new alternatives to develop merchandise that blur the boundaries between several types of monetary companies. They’re establishing options that provide their banking companies, together with absolutely managed banking propositions, to 3rd events securely by way of microservices and a typical platform.
AWS identifies two key approaches to this pattern. The “marketplace” method sees banks offering “value-added and contextualized services to their customers such as ERP integrations or personal finance management.” The intention is to deepen the connection with particular person and enterprise clients past primary service provision.
The “banking-as-a-service” method sees banks providing a spread of companies — from standalone particular regulatory-driven companies like Know Your Buyer’s Buyer (KYCC) to totally managed choices that allow any group arrange a branded banking service.
Middle-stage in each approaches are the financial institution’s APIs, designed to permit banking services to be distributed to clients and third events. Modernizing API structure within the cloud accelerates the event and testing of APIs, making them simpler to combine in addition to offering scalability.
Checkmarx API safety affords banks and their clients and companions an important service that helps uncover, management, and mitigate API safety threat. It affords full visibility into your API stock and identifies vulnerabilities and misconfigurations. Controlling API threat is an integral part of growing monetary market ecosystems and banking-as-a-service options.
Pattern 3: Cyber occasion restoration — lowering the assault floor and responding to regulatory necessities
Given its nature, it’s not stunning that the monetary companies sector faces extra cyberattacks than every other. On high of those exterior incursions comes the disruption of digital transformation, which may additionally create vulnerabilities together with third-party and provide chain threat.
Banks are investing in a spread of measures designed to handle and mitigate threat and speed up restoration from any assault. Decreasing the assault floor and minimizing vulnerabilities is a vital exercise if the sector is to safeguard its popularity and preserve buyer belief. Moreover, the rising library of laws designed to make sure banks are assembly their safety obligations means they should undertake options that help compliance.
AWS affords a wealth of options to make sure shopper knowledge is protected and banks can get better rapidly from assaults. These embrace Amazon Easy Storage Service (Amazon S3), key administration companies, software-defined firewalls that facilitate community isolation, and geographic sovereignty options that meet compliance necessities.
These and plenty of different choices care for Amazon’s a part of the shared safety cut price, nevertheless, banks are additionally liable for securing the workloads they deploy in AWS. That is the place Checkmarx steps in, offering complete AppSec options that combine seamlessly with AWS SDLC instruments to safe the whole course of. Checkmarx addresses all varieties of software threat, from customized code errors to open supply element vulnerabilities, API dangers, and infrastructure as code misconfigurations.
These are dynamic occasions for monetary companies companies, and AWS with Checkmarx are serving to them capitalize on alternatives whereas defending in opposition to threats — each malicious and aggressive.
Occupied with studying extra?
We’re exploring these developments intimately in our webinar on Could 4, 2023, the place AWS and Checkmarx will clarify how one can flip AppSec right into a aggressive benefit as you proceed your cloud transformation journey.
The submit Navigating the Rising Tide of CI/CD Vulnerabilities: The Jenkins and TeamCity Case Research appeared first on Checkmarx.com.
