Mar 22, 2023
More protection for your wallet
Mastercard just announced it has acquired Swedish cloud-based cybersecurity firm Baffin Bay Networks, aiming to enhance its multi-layered cybersecurity approach and better assist businesses in addressing the growing challenge of cyber-attacks.
This is Katy Craig in San Diego, California.
This move will also expand Mastercard's range of services beyond payment transactions. As the digital world evolves, convenience and opportunities have increased for individuals, businesses, and governments, while simultaneously highlighting the need for stronger protection against cyber criminals. Distributed denial of service attacks, for instance, surged by 22% in 2022.
To deal with these threats, Mastercard wants to combine its solutions into a single cyber service that its customers all over the world can use. By integrating existing RiskRecon data analytics with Baffin Bay's automated Threat Protection service, customers will be able to better identify vulnerabilities and prevent cyberattacks.
Ajay Bhalla, President of Cyber and Intelligence at Mastercard, talked about how trust is important for keeping the digital world safe. He also said he was confident that Baffin Bay's AI technology would improve Mastercard's cyber defenses. Baffin Bay Networks, known for its effective cloud-based Threat Protection service, shares Mastercard's vision of providing security and trust to customers, and is excited to join forces to expand their global impact.
This is Katy Craig. Stay safe out there.