Mastercard has rolled out Cyber Secure, a first-of-its-kind, AI-powered suite of tools that allows banks to assess cyber risk across their ecosystem and prevent potential breaches.
Cyber secure allows banks to identify and prioritize threats and vulnerabilities throughout their cyber environment. Additionally, acquiring banks can help merchants understand their own cyber risk, preventing hundreds of millions of dollars in potential fraud.
Ajay Bhalla, president, Cyber & Intelligence, Mastercard, said:
“The world today faces a $5.2 trillion cyber breach problem. This is one of the biggest threats to consumer trust. At Mastercard, we aim to stay ahead of fraudsters and to continually evolve and enhance our protection of cyber environments for our bank and merchant customers. With Cyber Secure, we have a suite of AI-powered cyber capabilities that allows us to do just that, ensuring trust across every experience, for businesses and consumers,”
Cyber Secure is a big step forward in the continuous quantifying and prioritizing of cyber vulnerabilities. By empowering banks with the ability to continuously monitor and track their cyber posture, it moves our industry to a more proactive state in managing and preventing data compromise, protecting the integrity of the payment ecosystem and consumer data.
In addition, it helps to reduce financial losses associated with attacks, saves time and resources, and provides a comprehensive view of cyber risk through one application.
