A CISO’s mission is to enable the company to advance key growth initiatives while reducing risk. To do this, they must continually assess and weigh the security ramifications of many strategic initiatives, considering the potential enterprise impact of speed-to-market, competitive advantage, and brand reputation.
More than ever, companies are developing and releasing APIs faster and in larger quantities. They enable companies to create and bring advanced services to market, opening up new avenues of business and revenue streams. Digitization has accelerated this trend, and Covid has accelerated its implementation. Companies had to quickly deploy remote services for workers and customers, building product integrations to support a multitude of devices – all of which required APIs. No wonder the Postman public API hub hit a record 20 million users earlier this year.
However, as APIs share highly sensitive data with customers, partners, and employees, they have also become very attractive targets for attackers. CISOs recognized the risk. According to a new study released by the AimPoint Group, W2 Communications, and CISOs Connect, The CISOs Report, Perspectives, Challenges and Plans for 2022 and Beyond, CISOs identified as their top IT components that need security improvement:
-> APIs – 42%
-> Cloud Applications (SaaS) – 41%
-> Cloud Infrastructure (IaaS) – 38%
Dedicated API Security – The Cost of Doing Business
The monetary growth opportunities promised by APIs are immense, but to take advantage of them, CISOs must ensure their APIs are protected. APIs support the interconnectivity of a company’s crown jewels – the essential and confidential data that companies need to deliver their digital goods and services.
Every company that is developing software has become an API-driven company. For these companies, securing these APIs is no longer an issue – it’s simply the cost of doing business in a digitally transformed landscape. Without dedicated API security to protect these crucial connectivity tools, companies are putting everything at risk – speed to market, competitive advantage, and branding.
Last but not least, CISOs must create a collaborative approach to API security. APIs touch all business areas. CISOs need to actively educate teams about their API security initiatives and their importance in reducing enterprise risk. CISOs must provide the answers and insights that empower others to help achieve security goals.
CISO after CISO will tell you that creating a strong, cross-functional culture of security awareness remains their number one priority. To engender this mindset, leaders must prioritize relationships, recognize everyone’s contribution to security, and continually communicate the vital importance of protection to achieving overall business objectives.
*The content of this article is the author’s responsibility and does not necessarily reflect the opinion of iMasters.
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