Radware Protects Leading European Bank Against Emerging Threat Vectors
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Insights
The agreement between Radware and a major European financial institution represents a significant strategic move in the cybersecurity landscape. Financial institutions are high-value targets for cybercriminals and the decision to consolidate security solutions under Radware's suite indicates a growing trend towards integrated security platforms. This integration can streamline threat management processes, allowing for real-time adaptive responses to emerging threats. It's imperative to note that the financial sector's reliance on digital infrastructure makes it crucial to have robust defenses against DDoS attacks, API threats and bot management, which Radware's DefensePro® X and Alteon® suite claim to address effectively.
From a cybersecurity perspective, the adoption of machine learning and behavioral-based algorithms is a progressive step towards preemptive threat mitigation. These technologies enable the dynamic adjustment of security measures to counteract evolving cyber threats, potentially reducing the window of vulnerability during an attack. The inclusion of 24X7 Emergency Response Team (ERT) managed services also adds a layer of proactive support, ensuring that the bank's defenses are not only technologically advanced but also backed by expert intervention when necessary.
The partnership between Radware and the European bank underscores the financial services industry's heightened focus on cybersecurity investment. As financial institutions handle sensitive data and critical financial transactions, the integrity and availability of their networks are paramount. The bank's initiative to replace its existing vendor with Radware's comprehensive solutions could lead to increased operational efficiency and potentially reduce costs associated with managing multiple security vendors. Moreover, the move could enhance the bank's reputation for safety and reliability among its private, corporate and institutional clients, potentially impacting customer trust and retention positively.
Furthermore, the financial implications of such a deal could be substantial for Radware. Securing a contract with one of the top five banks in a European country could lead to increased revenue streams and possibly influence Radware's stock market performance. Investors and stakeholders will likely monitor the deployment's success and any subsequent impact on the bank's operational resilience to cyber threats. This could serve as a case study for Radware's effectiveness and influence further adoption of their security solutions in the financial sector.
Radware's recognition by industry analysts and the acquisition of awards for its network and application security solutions suggests a competitive edge in the cybersecurity market. The ability to provide a 360-degree security approach with machine learning and patented algorithms positions Radware favorably against competitors. The consolidation trend in cybersecurity services, as evidenced by this deal, may prompt other organizations to follow suit, seeking similar comprehensive solutions to simplify their security infrastructure.
Given the increasing sophistication of cyber attacks, Radware's emphasis on real-time, adaptive protection is likely to resonate with potential customers across various industries, beyond the financial sector. The scalability of Radware's solutions, particularly the Alteon Global Elastic License (GEL), offers flexibility in resource allocation across different cloud environments, which is an attractive proposition for enterprises with hybrid or multi-cloud architectures. This could lead to a broader market appeal and potential growth opportunities for Radware.
Delivers 360-degree application and network security to displace existing vendor
MAHWAH, N.J., Jan. 09, 2024 (GLOBE NEWSWIRE) -- Radware® (NASDAQ: RDWR), a leading provider of cyber security and application delivery solutions, announced it signed an agreement with a leading European financial institution. Ranking among its country’s five largest banks in terms of total assets, the organization purchased Radware’s complete suite of network and application security and application delivery solutions.
Today, the bank, which has offices in more than 50 countries and thousands of employees, delivers a comprehensive set of financial services to private, corporate, and institutional clients. The bank decided to replace its existing security solutions provider to strengthen its protection against emerging threat vectors and enhance data availability and accessibility. In addition, the bank wanted to consolidate its security services under one vendor umbrella, including a web application firewall, API and DDoS protection, and bot detection and management. The company turned to Radware for its integrated, end-to-end solution.
“We are proud to be awarded the business and trust of prominent banks from around the world. It is a testament to Radware’s technology, service superiority, and spirit of partnership,” said Yoav Gazelle, Radware’s chief business officer. “Regardless of geography, companies are experiencing an alarming escalation in the sophistication of cyber attacks, making them even more difficult to detect and mitigate. They rely on Radware for real-time, 360-degree protection that consistently and automatically adapts to threats as they evolve and emerge across environments and entry points.”
Radware’s integrated, end-to-end network and application security solutions harness machine learning and powerful patented behavioral-based algorithms to automatically identify and adapt to changes in the threat landscape, applications, and infrastructure. Its broad footprint makes it an ideal solution for organizations interested in consolidating security platforms to enhance visibility and make maintenance easier and more cost effective.
To uplevel the cyber defenses across its hybrid environment, the bank selected Radware’s DefensePro® X DDoS Protection platform and Cloud DDoS Protection Service, as well as its Alteon® integrated application protection suite, Alteon Global Elastic License (GEL), and 24X7 Emergency Response Team (ERT) managed services.
Radware’s Alteon suite offers comprehensive application protection via embedded web application firewall, bot management and API protection capabilities. It defends against a wide range of threats, including OWASP vulnerabilities, bad bots, zero-day and supply chain attacks, and API assaults. Accompanied by Radware’s GEL, companies can allocate their application security services across any private or public cloud environment at a moment’s notice without jeopardizing their initial investment.
Using advanced behavioral algorithms, Radware’s combined DDoS defense is designed to detect and block harmful traffic, ensure uninterrupted availability, and protect networks from today’s most damaging threats. This includes Burst, DNS, and network and application DDoS attacks along with ransom DDoS campaigns, IoT botnets, phantom floods, and other types of cyber threats.
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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Media Contact:
Gerri Dyrek
Radware
Gerri.Dyrek@radware.com
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