Covid-19 Impact on Banks, And fixes. The Black Swan Opportunity

Download Now

The Black Swan Opportunity |Get your bank digital ready.

IBSI Special 5 Digital Report Package with Special Offer. Subscribe now

IBS Journal: The iconic monthly FinTech magazine

April 2020 issue out now! Subscribe now

India FinTech Report 2020

Insights into the historical and projected market size of key FinTech categories. Subscribe now

Mastercard establishes first European Cyber Resilience Centre in Belgium

Mastercard announced today that it will be establishing its first European Cyber Resilience Centre for fueling collaboration between public and private sector including regulatory bodies in a bid to support enterprise resilience in the European region. The new centre aims to address the threats faced by the European payments ecosystem including financial institutions and FinTechs.

“Financial services will always be at the top of the target list for attackers due to the vast pool of customer data and credentials under our responsibility,” said Javier Perez, President Europe at Mastercard. “Our European Cyber Resilience Centre improves collaboration amongst key organisations, helping to ensure businesses and individuals feel secure when sharing information online.”

The company states that the European Cyber Resilience Centre is expected to bring about prevention and mitigation practices against international cybercrime and wider security threats in collaboration with national cyber intelligence centres, industry groups, law enforcement agencies and central banks across Europe, Europol, FS-ISAC, INTERPOL, NBB, and the UK’s NCA and NCSC. The centre will improve response time and effectiveness during global events, natural disasters, service and security incidents and ensure compliance with privacy laws globally.

“The security and privacy of our customers’ data is paramount. Fraudsters and hackers know no borders or nationalities, so threats can strike from every corner of the world. Only a joint effort that involves all parties will be able to place Europe on the frontline of enterprise resilience,” said Perez. “This new centre will synchronize our global resources and partners to constantly seek and adopt the best practices for us and our customer network.”

Recently, Mastercard announced the receipt of the in-principle approval from the People’s Bank of China (PBOC) to begin formal preparations to set up a domestic bankcard clearing institution in China.

Related Posts