Banking Security Audit Across Digital Channels

Client:

A major financial institution serving over 500,000 clients

Industry:

Finance

Focus:

Protection of personal, financial, and corporate data across mobile applications, web portals, and internal infrastructure

Main challenge:

Assessing the resilience of digital services against attacks, safeguarding sensitive data, and ensuring compliance with international security standards

Market:

Georgia

Services provided:

Security Code Review, Black-box and Gray-box Pen Testing

Key Takeaways

Strengthened security of web, mobile, and APIs

Prevented potential DoS and found 106 issues

Pentest and Code Review were conducted for digital services

A detailed report and practical recommendations were provided to enhance security and ensure compliance with PCI DSS and ISO/IEC 27001 standards.

48 hours

from detection to remediation

critical vulnerabilities identified

DoS attack anticipated and blocked

Banking Security Audit Across Digital Channels

Jan 31, 2025

14 min

How resilient are banking services to modern cyberattacks? To find out, a major financial institution turned to Datami for a comprehensive penetration test and code review. The result: 106 vulnerabilities identified and a potential DoS attack on the call center successfully blocked.

A major financial institution in Georgia serves over 500,000 clients through mobile applications, web portals, and APIs. The company handles sensitive data and operates in a regulated industry governed by PCI DSS and ISO/IEC 27001 standards.

Information security is critical to preventing data leaks, financial fraud, and unauthorized access, while regular security assessments help strengthen cyber resilience.

Objectives and challenges

The banking institution initiated a scheduled security assessment to evaluate the resilience of its digital services against attacks and ensure compliance with regulatory standards, particularly PCI DSS and ISO/IEC 27001.

The project's goal was to identify vulnerabilities, assess cyber threat risks, and strengthen the protection of personal, financial, and corporate data.

Conducting black-box and gray-box penetration testing of client-facing web portals, mobile applications, APIs, a POS terminal, and part of the internal IT infrastructure.
Performing a code review of critical components to verify business logic, authentication mechanisms, and module interactions.
Assessing configurations, identifying vulnerabilities, determining risk levels, providing recommendations, and validating compliance with security standards.

Penetration Testing & Security Code Review

Web portals, mobile applications, APIs, POS terminal, and internal network

Risk Analysis

Risk assessment, logic flaws, and configuration weaknesses

Report & Recommendations

Vulnerability descriptions, risk levels, and remediation steps

Datami Methodology: Digital Security Assessment for a Financial Institution

Our approach

Before testing, we analyzed the client’s technical documentation to accurately model potential threats.

The team conducted black-box and gray-box penetration testing of the bank’s key digital services, along with Security Code Review of selected components. Datami tested web portals, mobile applications, APIs, internal infrastructure, and POS terminals.

We combined automated scanners with manual testing, applying OWASP Top 10, MITM analysis, fuzzing, and custom scripts. We assessed configurations, authorization mechanisms, and component interactions with partial access to the client’s infrastructure, simulating the most likely attack vectors in a real-world environment.

Black-box

External testing without access to internal information — simulated attacks by third parties or hackers with no access rights.

Gray-box

Partial access allowed us to examine internal system logic, identify vulnerabilities in APIs, mobile applications, and service configurations.

Main project stages and solutions

Throughout the process, Datami adapted the work plan to fit the specifics of the infrastructure, delays in access provisioning, and newly added testing targets that emerged after the project began.

The team rotated IP addresses during scanning to avoid being blocked. Temporary privilege escalation was approved, and tunnels were created through restricted zones to reach isolated systems.

Preparation:

Collection of technical information and documentation analysis, confirmation of testing targets, and development of a plan tailored to the specifics of a regulated industry.
Testing:

Penetration Testing (black-box and gray-box) of digital services — including mobile applications, APIs, web portals, POS terminals, and parts of the internal network. Security Code Review focused on logic, authorization, and inter-module interactions.
Analysis & reporting:

Risk assessment, issue prioritization, and creation of a detailed report with actionable recommendations for vulnerability remediation and security enhancement.

Fewer critical risks — more confidence

Results and recommendations

Before the project, the client had a fairly secure system, but testing revealed a number of critical and high-risk issues, including the absence of CAPTCHA and DoS protection, weak security event monitoring, and vulnerable access points via APIs.

The Datami team identified 106 vulnerabilities: 7 critical, 15 high, 44 medium, 36 low, and 4 informational. Among them, a potential DoS attack on the call center — through mass creation of callback requests — was discovered and blocked.

The client promptly implemented initial measures: part of the issues was resolved within 48 hours.

implement CAPTCHA and rate limiting on critical interface elements;
improve logging and security monitoring;
review access policies for APIs;
regularly update the protection system in accordance with PCI DSS and ISO/IEC 27001.

Due to the scale and complexity of the infrastructure, the project lasted 5 months, including additional targets that appeared during the course of work.

Key project outcomes

The project helped the banking institution timely identify critical vulnerabilities, prevent a DoS attack on the call center, and strengthen the protection of client-facing services.

The client received an in-depth security assessment and practical recommendations from Datami on how to eliminate vulnerabilities and enhance cybersecurity.

This case study confirms: even well-protected financial companies require regular penetration testing and security code review to reduce risks and stay compliant.

Direction

Before the project

After implementation

Security posture

Partial security coverage, no in-depth analysis

106 vulnerabilities identified, remediation plan created

Critical vulnerabilities

Potential DoS, risks via API, and feedback form

7 critical threats, some resolved within 48 hours

Account compromise

Risk of call center disruption, data leakage due to weak traffic limits

Rate limiting implemented, monitoring and logging recommendations provided

Security compliance

Partial compliance with PCI DSS and ISO/IEC 27001 standards

Technical report and action plan provided for full compliance

Timeline

Planned: 5 months

Tasks completed on schedule despite increased project scope

Preparation of the Platform for Regulatory Audit

The risk of KYC bypass was reduced from high to low.
A rate limit and an AI module for deepfake detection were implemented.

Services:

API, web, and mobile application pentest (Gray-Box)

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