MAHWAH, N.J., Dec. 19, 2024 (GLOBE NEWSWIRE) — Radware® (NASDAQ: RDWR), a global leader in application security and delivery solutions for multi-cloud environments, announced it expanded its agreement with one of Italy’s top 5 banks. Based on the agreement, the financial institution will use Radware’s end-to-end suite of network and application security and application delivery solutions. This includes Radware’s Cloud Application Protection and Cloud DDoS Protection Services as well as its Alteon® application delivery controller with its Global Elastic License (GEL).
Today, the multi-channel bank offers a number of banking products and services. These offerings span private and corporate banking, loans, e-banking, and investment services for individuals and business clients.
The bank’s decision to bolster its cyber defenses was motivated by the need to meet growing capacity requirements and protect its infrastructure and applications against a surge in Web DDoS Tsunami attacks, a new aggressive form of HTTPS Flood that targets web applications and APIs. According to Radware’s H1 2024 Global Threat Analysis Report, Web DDoS attacks surged globally 265% during the first six months of this year compared to the second half of 2023.
The expansion of security services was also driven by stricter and changing regulatory controls. This includes the enforcement of the European Union’s new Digital Operational Resilience Act (DORA). The new regulation requires financial institutions and the third-party service providers that support them to advance their cybersecurity and operational processes by January 17, 2025, when enforcement begins.
“With the race to comply with new regulations and rise in Web DDoS attacks, many financial institutions are under pressure to reassess their cybersecurity frameworks and shore up their security measures,” said Yoav Gazelle, Radware’s chief business officer. “Those who act early will be in the best position to manage these changes and protect their vital services. Radware’s AI-driven cloud security solutions are built to strengthen operational resilience and security postures by helping organizations automatically identify, mitigate, and adapt to evolving threats and disruptions.”
Radware’s Cloud Application Protection Services provide comprehensive, agnostic application protection through the company’s web application firewall (WAF), bot detection and management, API protection, client-side protection, and application-layer 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’s Alteon application delivery controller offers comprehensive application protection via embedded web application firewall, bot management and API protection capabilities. It is designed to defend 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.
Radware has received numerous awards and recognitions for its application and network security solutions from a number of industry analysts, including Aite-Novarica Group, Gartner, GigaOm, KuppingerCole, and QKS Group.
About Radware
Radware® (NASDAQ: RDWR) is a global leader in application security and delivery solutions for multi-cloud environments. The company’s cloud application, infrastructure, and API security solutions use AI-driven algorithms for precise, hands-free, real-time protection from the most sophisticated web, application, and DDoS attacks, API abuse, and bad bots. Enterprises and carriers worldwide rely on Radware’s solutions to address evolving cybersecurity challenges and protect their brands and business operations while reducing costs. For more information, please visit the Radware website.
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Radware
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