This financial services and insurance industry brief explains how APIs power digital banking, payments, claims processing, fraud detection, and open banking by enabling real-time data exchange and seamless customer experiences. Because APIs handle highly sensitive financial and personal data, they are prime targets for fraud, account takeovers, unauthorized transactions, and data exfiltration, with breaches carrying severe regulatory, financial, and reputational consequences. Open banking and third-party integrations further expand the attack surface and compliance burden under frameworks such as PCI DSS and GDPR. The brief emphasizes the need for continuous API discovery, strong posture governance to prevent misconfigurations, and real-time behavioral monitoring to detect sophisticated fr

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