In 2023, banks in Europe, Middle East, and Africa (EMEA) experienced significant profitability, driven in part by APIs, which account for 31% of all web traffic and facilitate services like banking transactions and third-party integrations. However, the rise of APIs has also expanded the cyberthreat landscape, leading financial institutions to increase cybersecurity investments. Akamai highlights the importance of robust API security strategies to combat vulnerabilities and cyberattacks while supporting innovation and compliance with evolving regulations in the digital banking ecosystem.

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