The financial services industry, including banks, credit unions, and fintech, adopted APIs early to enable seamless user experiences across mobile apps and browsers while supporting third-party ecosystems. APIs offer speed and flexibility for developers, but they also introduce security risks. Cequence CQ Prime research revealed that in the second half of 2021, 14.4 billion—or 70%—of 21.1 billion application requests were API-based, and 80% of mitigated traffic involved APIs. This highlights the need for robust API security to prevent automated attacks, fraud, and data breaches in financial services.

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