Government bodies are clamping down heavily on institutions and organizations that handle sensitive customer data. For APIs, tokens are used to authenticate users. We live in an era dominated by cloud-native and cloud-first solutions that rely on these services to provide dynamic data storage capabilities and overall computing capabilities for more accurate and actionable insights. Whether it’s to ingest data across your Snowflake Snowpipe or share data with dozens of microservices within your organization, reliance on APIs has skyrocketed in the last decade. Companies with 10,000+ employees have stated that they have at least 250 APIs actively deployed. In a recent McKinsey report it was forecasted that the number of APIs in open banking is set to increase 100% by the end of 2027. As a result, it has become critical that these APIs are secure and impervious to attacks. The proliferation of APIs has increased the threat landscape which has painted a metaphorical bullseye for potential cyberattacks. Many Fortune 500 companies have experienced API breaches of varying degrees in the last two years. Telecom provider T-Mobile has faced eight such breaches since 2018. Their latest breach occurred in January 2023, when personal data (names, DOB, email address,billing, personal details, etc.) of over 37 million customers were exposed. While the company ensured sensitive data wasn’t leaked, personal data alone could be advantageous for hackers planning credential-stuffing…Read More