Learn the best API security practices for C-suite executives. From authentication to encryption, this quick guide can mitigate the risk of security breaches.

APIs have become increasingly popular and necessary for businesses to remain competitive in the digital age. In fact, a recent study by Akamai found that API traffic accounts for 83% of web traffic, and that number is only expected to grow in the coming years.

However, with the rise of API usage comes an increased risk of security breaches. According to a report by Verizon, 40% of data breaches in 2020 involved web applications, which include APIs. The average data breach cost in 2020 was $3.86 million, making it imperative for businesses to take the necessary steps to protect their data.

This is where the C-Suite comes in. As leaders of their organizations, C-Suite executives are responsible for ensuring the security of their company’s APIs. By implementing the best API security practices, businesses can mitigate the risk of security breaches and protect their valuable data.

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So, what are some of the best API security practices that C-Suite executives should be aware of? Let’s take a look.

Establish a Comprehensive API Security Strategy

A comprehensive API security strategy is critical to ensuring the security of your APIs. This strategy should include guidelines for authentication and authorization, data encryption, and API monitoring. According to the 2021 State of the API Report by Postman, only 39% of API developers and architects surveyed stated that their organization has a formal API security policy in place. Therefore, it is essential for business leaders to establish a comprehensive API security strategy for their organization.

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