Achieve FFIEC Compliance

Learn how Traceable helps CISOs, CIOs, and Governance, Risk and Compliance (GRC) leaders in all FDIC-insured financial institutions, meet FFIEC compliance requirements.
What is FFIEC Compliance?
The FFIEC (Federal Financial Institutions Examination Council) is an interagency body of the U.S. government, made up of several financial regulatory agencies. It was originally created on March 10, 1979, and is responsible for creating uniform regulatory standards and reporting systems for all federally supervised financial institutions, as well as their holding companies and subsidiaries.

Any institution that is regulated by one of the FFIEC member agencies is effectively subject to FFIEC rules.

On October 3, 2022, the FFIEC announced a significant update to its 2018 Cybersecurity Resource Guide for Financial Institutions. The Guidance highlights risk management practices that support oversight of identification, authentication, and access solutions as part of an institution’s information security program.
The recent FFIEC compliance update explicitly calls out API Security as a separate attack surface, highlighting the increased threats that APIs pose to data, systems and people.

Financial institutions must address the following:
  • API Inventory API sprawl is a common problem for finserv and fintech organizations. They are constantly contending with a loss of control in a distributed ecosystem.
  • Risk Assessments Understand the threat landscape. FFIEC guidance includes the directive of conducting a risk assessment for digital banking and information systems.
  • Access and Authentication Authentication risks may arise from APIs, and financial institutions’ increased connectivity to third parties, such as cloud service providers.
How Traceable Helps with
FFIEC Compliance
  • Continuous
    API Inventory
    Discover and catalog all APIs in your environment - internal, external, 3rd-party, and partner.
  • Establish
    Security Posture
    Obtain a risk score of all APIs, and learn where you are most vulnerable.
  • API Security
    Risk Assessment
    Evaluate API risk, learn if you've been compromised, and inform security stakeholders.
Adhere to FFIEC Guidelines with Traceable
FFIEC Compliance: What it Means for API Security

The recent update explicitly calls out APIs as a separate attack surface in regulatory guidelines that represents a significant shift in compliance trajectories, and highlights the increased threats that APIs pose to data, systems and people.

Read the whitepaper to learn:

1. What is FFIEC compliance? What has changed with the new update?

2. The trajectory of FFIEC for financial institutions and the new addition of API security

3. The importance of discovery, inventory and risk assessment of APIs

4. How CISOs, CIOs, and governance risk and compliance leaders can align with the latest FFIEC guidelines with Traceable

How Financial Institutions Can Adhere to
FFIEC Compliance with Traceable
Complete API Inventory

Traceable automatically discovers all of your APIs in a data-rich catalog for a complete always up-to date inventory of your API ecosystem. This includes HTTP, RESTful, GraphQL, SOAP, XML-RPC, JSON-RPC, and gRPC.

This ultimately addresses API sprawl, also identifying any shadow and orphaned APIs, and notifies of any real-time API changes. Traceable maps your app topologies, any data accessed by any APIs, and data flows, including connectivity between edge APIs, internal services, and data stores.

Instantly Know Your
Risk Posture

The Traceable API security platform enables users to generate risk scores that proactively identify vulnerable APIs.

API risk scores evaluate the vulnerability of APIs used in your business logic.

1. Continuously updated endpoint risk scoring based on the likelihood and impact of a cyberattack.

2. Traceable uses risk scores to provide an always updated view of your most risky APIs, so you can prioritize mitigation.

API Security Risk Assessment

Traceable offers enterprises an API security risk assessment to better evaluate and understand the risks posed by APIs in their environment.

In the assessment, we instantly show you where you are vulnerable, evaluate risk, obtain actionable intelligence, and help your security teams build an enterprise-grade API security strategy.

Conformance Scanning and Analysis

Open API specs organized by services and domains are available to users to view, download and use for conformance analysis.

Perform conformance tests to detect shadow, orphan and zombie APIs, parameter mismatches in headers, cookies, request and response bodies, either on-demand or scheduled.

Visual Depictions of Sensitive Data Flows

An important aspect to API Discovery is being able to see exactly where sensitive data resides and where it traverses across multiple points.

API Catalog maps your app topologies and data flows, including connectivity between edge APIs, internal services, and data stores.

See How Traceable Helps
with FFIEC Compliance
Request a demo today.
Additional Capabilities
for a Complete API Inventory

Data Collection and Deployment
Built for Massive Scale

Traceable supports very large deployments consisting of thousands of API endpoints, and billions of API calls -- with flexible data collection and deployment options, including agentless or agents, depending on your needs.

1. fully out-of-band via network log analysis of AWS, GCP, and Azure Clouds,

2. Collection by instrumentation within your API gateway, proxies, or service mesh, and

3. in-app data collection through instrumentation by language-specific agents or socket filtering.

For highly regulated industries, Traceable can be deployed 100% on-premise in a fully air-gapped model, without sacrificing protection, speed or scalability.

Zero Trust API Access

Today’s cloud-based, API-driven, microservices-based applications all extensively operate using APIs to communicate between users/NPE’s (non-person entities) to applications, and between applications and application components.

API Security solutions are essential to aligning Zero Trust thinking with the realities of today’s application architectures and extending the Zero Trust security model to the full application stack.

However, to date, APIs have been largely neglected by Zero Trust models. In addition, digital transformation demands and DevSecOps processes at organizations have created new gaps and vulnerabilities attackers can exploit.

Traceable's API security platform builds on your Zero Trust Security strategy. We map to the NIST Zero Trust framework, as it covers reference architecture, data security, as well as compliance measures for defense in depth security.

API Threat Protection

APIs pose a direct threat to systems, data, and privacy, and are now the top attack vector when it comes to abuse, data loss, and fraud, across nearly every industry.

Traceable offers runtime exploit protection that automatically detects and stops known and unknown API attacks, business logic abuse attacks, as well as API abuse, fraud, and sensitive data exfiltration.

Additional Details:

1. Eliminate API Abuse and Fraud: you need real-time detection and protection against known and unknown API attacks and abuse.

2. Detect and Block API Attacks: Automatically detect and block both known and unknown API vulnerabilities, including the OWASP Web and API Top 10, business logic abuse attacks, and zero days.

3. Stop Sensitive Data Exfiltration: Immediately detect where hackers gain access to sensitive data by exploiting software bugs or CVEs. Understand the flow of transactions through your application, from edge to data store and back, to quickly respond and shut down the attempted theft.

Threat Intelligence and
Root Cause Analysis

Traceable provides robust analytics and threat intelligence capabilities that power root cause analysis, forensic research, and incident response.

1. API security data lake: collect and analyze the end-to-end path trace of all API calls and service behaviors. An API security data lake allows your SOC team, incident responders, threat hunters, as well as red teams and blue teams to conduct instant security analysis and root cause analysis.

2. Understand API traffic and user attribution: Understand API traffic history of user attributed transactions, sequences, and flows and perform post mortem reviews and analysis for any API security incidents.

3. Threat Hunting to reveal unknown API vulnerabilities: Perform threat hunting to reveal potentially unknown API vulnerabilities and visualize user behavior analytics to uncover fraud and abuse.

This level of security analytics enables SOC teams and threat hunters to optimize APIs and service behaviors to prevent the possibility of any data breach, ransomware, abuse, or data exfiltration.

See our API Security
Platform in action
Request a demo today.