Radware Introduces a Real-Time, AI-Powered API Protection Engine to Combat Business Logic Attacks

Rhea-AI Summary

Radware (NASDAQ: RDWR) has introduced a new AI-powered API Protection engine designed to combat business logic attacks in real-time. The engine continuously learns an application's business logic to detect and block malicious API calls automatically. API attacks have become more sophisticated, increasing by 171% in 2023 compared to 2022, with retail (37%) and transportation (19%) being the most targeted industries. Radware's solution leverages continuous auto-learning, real-time context analysis, and precise bad actor identification to enhance API security, reducing risks and ensuring optimized protection.

Positive

• Introduction of an AI-powered API Protection engine that continuously learns and mitigates business logic attacks in real-time.
• API attacks increased by 171% in 2023, highlighting the growing relevance of the solution.
• Radware’s solution offers comprehensive coverage for OWASP API 2023, targeting sophisticated and hard-to-detect attacks.
• The enhanced API Protection includes real-time detection, context analysis, and precise identification of bad actors, surpassing simple IP blocking.
• Part of Radware’s broader Cloud Application Security Protection Service, which includes web application firewall, bot detection, and DDoS protection.

Negative

• None.

Cybersecurity Analyst

Radware's introduction of an AI-powered API protection engine is a significant step in the evolving field of cybersecurity, particularly in the context of business logic attacks which are becoming increasingly sophisticated. The real-time, continuous learning capabilities of this solution offer a proactive approach to security, moving away from traditional reactive measures that rely on past attack logs.

For retail investors, it's important to understand that business logic attacks are challenging to detect as they often mimic legitimate use patterns. Radware's solution promises to identify and block these attacks as they occur, which could reduce potential losses from such vulnerabilities. The 171% increase in malicious web application and API transactions in 2023 highlights the growing threat landscape, validating the need for advanced solutions like Radware’s.

Furthermore, the company's comprehensive coverage for the OWASP API 2023 and multi-layer approach, including continuous auto-learning and precise bad actor identification, positions it well against competitors. These features not only enhance security but also reduce false positives—a critical factor in maintaining operational efficiency and trust in automated systems.

Investors should note that while the technology is promising, its effectiveness in real-world application will be a key determinant of its success. Moreover, the industries most affected—retail and transportation—are sectors with high data sensitivity and regulatory requirements, potentially boosting demand for Radware’s solutions.

Financial Analyst

From a financial standpoint, Radware's enhanced API protection engine could positively impact revenue streams by attracting new clients and retaining existing ones who seek cutting-edge security solutions. The cybersecurity market is highly competitive, yet Radware's continuous innovation positions it strongly. The real-time, AI-driven protection offers a distinct value proposition compared to competitors who rely on historical data analysis.

The substantial increase in API attacks, with retail and transportation sectors being heavily targeted, implies a growing addressable market for Radware. This trend is likely to drive demand for advanced security solutions that can offer real-time protection and minimize operational disruptions.

The recognition from industry analysts and awards further strengthens Radware’s market position. These accolades can enhance investor confidence and may positively influence the company's stock performance. However, investors should remain cautious and monitor the company’s ability to scale these innovations effectively and maintain its competitive edge in a rapidly evolving market.

In terms of financial health, metrics such as revenue growth, profit margins and customer acquisition costs will be important indicators to watch in the upcoming quarters. If Radware can demonstrate that its new solution translates into tangible financial benefits, it could present a strong bullish case for investors.

Automatically and continuously learns business logic to block attacks as they occur

MAHWAH, N.J., June 27, 2024 (GLOBE NEWSWIRE) -- Radware® (NASDAQ: RDWR), a leading provider of cyber security and application delivery solutions, today announced it has enhanced its API Protection solution with a new AI-driven, auto-learning protection engine designed to immediately detect and mitigate business logic attacks. Working in real-time, the engine exposes bad actors’ identities and automatically detects and blocks malicious API calls by continuously learning the application’s business logic. The solution offers organizations comprehensive coverage for the OWASP API 2023. 

API attacks that leverage business logic vulnerabilities are becoming more sophisticated and harder to detect, often mimicking legitimate API usage. According to Radware’s latest Global Threat Intelligence Analysis Report, malicious web application and API transactions increased by 171% in 2023 compared to 2022. Retail (37%) and transportation (19%) were the most attacked industries, followed by software as a service (8%) and carriers (8%).

“Radware is helping organizations take the guesswork out of API protection,” said Gabi Malka, Radware’s chief operation officer. “Unlike competitive solutions that rely on past attack log analysis for detection and remediation recommendations rather than immediately blocking the attacks, Radware’s AI-powered protection works automatically, continuously, and in real-time. It not only learns the business logic, but also accurately reveals bad actors’ identities and blocks their attacks as they occur, resulting in frictionless, optimized protection and reduced risk.

Radware’s enhanced API Protection solution takes a multi-layer approach to real-time detection and mitigation of business logic attacks. It leverages:

• Continuous auto-learning of the application business logic to deliver real-time insights into the legitimate or malicious intent of API calls. 
• Real-time AI-driven context analysis of security policies to enhance the reliability of API attack detection and mitigation. 
• Precise identification of bad actors that surpasses simple IP blocking to accurately block malicious users and clients. 
  
  

Radware’s API Protection is part of the company’s comprehensive Cloud Application Security Protection Service. The service also includes the company’s industry-leading web application firewall (WAF), bot detection and management, and client-side and application-level (Layer 7) web DDoS protection. Combining end-to-end automation, behavioral-based detection, and 24/7 managed services, the solution is designed to offer organizations the highest level of application protection with the lowest level of false positives. 

Radware has received numerous awards for its application and network security solutions. Industry analysts such as Aite-Novarica Group, Forrester Research, Gartner, GigaOm, KuppingerCole, and Quadrant Knowledge Solutions continue to recognize Radware as a market leader in cyber security.

About Radware
Radware^® (NASDAQ: RDWR) is a global leader of cyber security and application delivery solutions for physical, cloud, and software defined data centers. Its award-winning solutions portfolio secures the digital experience by providing infrastructure, application, and corporate IT protection, and availability services to enterprises globally. Radware’s solutions empower enterprise and carrier customers worldwide to adapt to market challenges quickly, maintain business continuity, and achieve maximum productivity while keeping costs down. For more information, please visit the Radware website.

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Radware believes the information in this document is accurate in all material respects as of its publication date. However, the information is provided without any express, statutory, or implied warranties and is subject to change without notice.

The contents of any website or hyperlinks mentioned in this press release are for informational purposes and the contents thereof are not part of this press release.

Safe Harbor Statement
This press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements made herein that are not statements of historical fact, including statements about Radware’s plans, outlook, beliefs, or opinions, are forward-looking statements. Generally, forward-looking statements may be identified by words such as “believes,” “expects,” “anticipates,” “intends,” “estimates,” “plans,” and similar expressions or future or conditional verbs such as “will,” “should,” “would,” “may,” and “could.” For example, when we say in this press release that the AI-driven, auto-learning protection engine is designed to immediately detect and mitigate business logic attacks, we are using forward-looking statements. Because such statements deal with future events, they are subject to various risks and uncertainties, and actual results, expressed or implied by such forward-looking statements, could differ materially from Radware’s current forecasts and estimates. Factors that could cause or contribute to such differences include, but are not limited to: the impact of global economic conditions, including as a result of the state of war declared in Israel in October 2023 and instability in the Middle East, the war in Ukraine, and the tensions between China and Taiwan; our dependence on independent distributors to sell our products; our ability to manage our anticipated growth effectively; a shortage of components or manufacturing capacity could cause a delay in our ability to fulfill orders or increase our manufacturing costs; our business may be affected by sanctions, export controls, and similar measures, targeting Russia and other countries and territories, as well as other responses to Russia’s military conflict in Ukraine, including indefinite suspension of operations in Russia and dealings with Russian entities by many multi-national businesses across a variety of industries; the ability of vendors to provide our hardware platforms and components for the manufacture of our products; our ability to attract, train, and retain highly qualified personnel; intense competition in the market for cyber security and application delivery solutions and in our industry in general, and changes in the competitive landscape; our ability to develop new solutions and enhance existing solutions; the impact to our reputation and business in the event of real or perceived shortcomings, defects, or vulnerabilities in our solutions, if our end-users experience security breaches, if our information technology systems and data, or those of our service providers and other contractors, are compromised by cyber-attackers or other malicious actors or by a critical system failure; outages, interruptions, or delays in hosting services; the risks associated with our global operations, such as difficulties and costs of staffing and managing foreign operations, compliance costs arising from host country laws or regulations, partial or total expropriation, export duties and quotas, local tax exposure, economic or political instability, including as a result of insurrection, war, natural disasters, and major environmental, climate, or public health concerns, such as the COVID-19 pandemic; our net losses in the past two years and possibility we may incur losses in the future; a slowdown in the growth of the cyber security and application delivery solutions market or in the development of the market for our cloud-based solutions; long sales cycles for our solutions; risks and uncertainties relating to acquisitions or other investments; risks associated with doing business in countries with a history of corruption or with foreign governments; changes in foreign currency exchange rates; risks associated with undetected defects or errors in our products; our ability to protect our proprietary technology; intellectual property infringement claims made by third parties; laws, regulations, and industry standards affecting our business; compliance with open source and third-party licenses; and other factors and risks over which we may have little or no control. This list is intended to identify only certain of the principal factors that could cause actual results to differ. For a more detailed description of the risks and uncertainties affecting Radware, refer to Radware’s Annual Report on Form 20-F, filed with the Securities and Exchange Commission (SEC), and the other risk factors discussed from time to time by Radware in reports filed with, or furnished to, the SEC. Forward-looking statements speak only as of the date on which they are made and, except as required by applicable law, Radware undertakes no commitment to revise or update any forward-looking statement in order to reflect events or circumstances after the date any such statement is made. Radware’s public filings are available from the SEC’s website at www.sec.gov or may be obtained on Radware’s website at www.radware.com.

Media Contact:
Gerri Dyrek
Radware
Gerri.Dyrek@radware.com

FAQ

What is Radware's new AI-powered API Protection engine?

Radware's new AI-powered API Protection engine is designed to detect and mitigate business logic attacks in real-time by continuously learning the application’s business logic.

How has the frequency of API attacks changed according to Radware?

According to Radware's latest Global Threat Intelligence Analysis Report, API attacks increased by 171% in 2023 compared to 2022.

Which industries were the most targeted by API attacks in 2023?

The most targeted industries by API attacks in 2023 were retail (37%) and transportation (19%), followed by software as a service and carriers (both 8%).

What makes Radware's API Protection solution stand out?

Radware's API Protection solution stands out due to its real-time, AI-driven approach that continuously learns business logic, offers context analysis of security policies, and provides precise identification of bad actors.

What additional features are part of Radware's Cloud Application Security Protection Service?

Radware's Cloud Application Security Protection Service includes a web application firewall (WAF), bot detection and management, and application-level (Layer 7) web DDoS protection.