Written exclusively for the Fintech Times by SHREYANS MEHTA, CTO and Co-founder Stealth Security
Automated bot traffic now accounts for nearly half of all Internet traffic. The majority of this bot traffic is malicious, initiated by fraudsters with the intent of committing various types of attacks against organisations that rely on web, mobile, and API applications within their business model. Stealth Security has developed a distributed software platform with applied AI technology that protects organisations against these bot attacks.
This is accomplished by first discovering all application assets across the organisation, then deploying lightweight software sensors that collect specific data targeting these applications. The Stealth Security AI engine consolidates and analyses this traffic in real time to accurately identify malicious bot activity. The platform automatically blocks these attacks to ensure that confidential data within the customer organisation remains secure.
Educating customers is an ongoing challenge as these attacks continue to grow. It’s important to understand the limitations of traditional network security tools, as well as early bot defence technology. Advanced bot attacks require advanced technology to detect and mitigate attacks before they achieve their objective. Our challenge will be to continue this market education.
Most financial services organisations rely on a secure, private connection with their customers so that both sides can safely conduct confidential financial transactions. It is the perfect environment for targeted bot attacks to disrupt the process by leveraging stolen credentials to gain access to financial data. We can help minimise this threat.
These growing bot attacks raise concern among everyone that doing business or connecting socially on the Internet may no longer be safe. Over time, changes in consumer behaviour as a result could disrupt the way we communicate, share information, and conduct business worldwide. We are trying to prevent that from happening.