Incepta at Payments Canada Summit 2024
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Incepta at Payments Canada Summit 2024

Incepta’s API security solutions at The Payments Canada Summit 2024!

The Payments Canada Summit 2024, held from May 29th to 31st in Toronto, was a whirlwind of innovation and connection for the payments industry. With over 1,800 delegates and more than 300 speakers, the summit provided an unparalleled platform for engagement, learning, and innovation. Incepta Solutions was thrilled to be part of this influential gathering, showcasing our cutting-edge API security solutions

Our Presence at Payments Canada Summit 2024:

Financial institutions face a heightened risk from data breaches, with the average cost per incident reaching a substantial $5.9 million, exceeding the global average by 28%. These breaches can damage an institution’s reputation and erode customer trust, potentially leading to long-term repercussions. At the summit, Incepta Solutions, in collaboration with Traceable, demonstrated how our platform elevates Cloud and Open Banking security by targeting the main cybersecurity attack vector identified by Gartner – APIs. Our booth (#6) was a hub of activity as we showcased how our platform assists leading financial services companies in navigating compliance challenges with automated API discovery, continuous monitoring, and comprehensive security posture management.

Throughout the summit, we engaged with industry leaders and innovators, discussing how our solutions powered by Traceable can:

  • Secure against account takeover (ATO) fraud
  • Prevent new account fraud
  • Ensure robust data protection
  • Maintain compliance with evolving regulations like PCI-DSS 4.0, GDPR, CCPA/CPRA, and FFIEC guidelines

Attendees were particularly interested in our capabilities for real-time API protection and fraud prevention. We received positive feedback on how our solutions can help organizations stay ahead of the curve in an ever-changing digital landscape.

Learn how we can help your organization stay ahead in the ever-changing digital landscape

API Security and Open Banking

APIs are the backbone of open banking, enabling seamless connectivity and data exchange between financial institutions and third-party providers. The summit highlighted the critical role of APIs in driving the open banking initiative, which aims to provide consumers with more control over their financial data and foster innovation in the financial services sector. Incepta Solutions is at the forefront of securing these APIs, ensuring that open banking can thrive in a secure and compliant environment.

Our Engagement at Payments Canada Summit 2024 :

Our focus on API security resonated with attendees seeking effective solutions to combat evolving threats and ensure regulatory compliance. Our whitepaper, “API Security for Financial Services,” generated significant interest, offering valuable insights into this critical domain. Additionally, the timing of the summit coincided with the release of the Government of Canada’s Enterprise Cyber Security Strategy, which emphasized the importance of securing APIs.

At our booth, we demonstrated how our platform can:

  • Automate API discovery and inventory
  • Manage continuous API security posture
  • Detect and hunt advanced attacks
  • Provide real-time API protection and fraud prevention

These demonstrations helped attendees understand the critical importance of API security in protecting sensitive data and maintaining compliance with evolving regulations.

Key Takeaways from the Payments Canada Summit 2024:

Day 1 Highlights:

  • Inspiring words from Kristina Logue, Co-CEO (Interim) and Chief Financial Officer at Payments Canada, emphasizing the collective responsibility of shaping the future of payments.
  • A keynote by Laurent Duvernay-Tardif, Super Bowl Champion and Medical Resident, offering valuable insights on resilience, teamwork, and leadership.

Day 2 Highlights:

  • Engaging discussions and meaningful connections with industry professionals.
  • A panel discussion on financial stability and innovation featured Sarah Paquet, Leah Anderson, and Supriya Syal.
  • Daniela Aubry’s discussion on equity, access, and inclusion in transit payments.
  • Showcasing our solutions to protect against evolving threats and ensure compliance with industry regulations.

Day 3 Highlights:

  • Continued discussions on critical topics such as AI, cybersecurity, resilience, faster payments, and consumer-driven finance.
  • Strengthening connections with industry leaders and exploring collaboration opportunities.

Building Partnerships for a Secure Future :

Our participation in the Payments Canada Summit 2024 was a resounding success. The event provided us with a platform to demonstrate our innovative solutions, connect with industry leaders, and contribute to the ongoing discussions shaping the future of payments. We established ourselves as a trusted resource for API security in the financial services sector and forged valuable connections with industry leaders. As the payments industry continues to evolve, we remain committed to providing advanced security solutions that address emerging threats and regulatory challenges. We look forward to leveraging these relationships and continuing to play a vital role in securing the future of payments for Canada.

Strengthen Your Financial Institution with Advanced API Security

Are you a CISO, CIO, or business leader trying to secure your financial institution’s APIs and ensure compliance with evolving regulations? Discover how Incepta Solutions can help you stay ahead of the curve:

  • Protect Your Institution: Request a demo with our security experts to see how our platform can help safeguard your organization against API-related risks.

Partner with Incepta Solutions to secure your financial institution’s future and maintain customer trust in an ever-changing digital landscape.

About the Payments Canada Summit 2024 :

The Payments Canada Summit is Canada’s leading event dedicated to the payments industry. It offers an unparalleled opportunity for professionals to engage in conversations that shape the future of payments both in Canada and globally. Learn more at Home | The 2024 Payments Canada SUMMIT (thesummit.ca)

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