Today you may have noticed our parent company Mastercard announce the availability of Cyber Secure – their first automated cyber risk assessment tool, and of course, driven by RiskRecon.
The Mastercard Cyber Secure offering takes our analytics and risk assessment technology, couples it with Mastercard’s card fraud and merchant breach systems to bring together a holistic view and management of risk across the payment and cyber arenas. The teams who manage merchant risk within Mastercard’s global issuing and acquiring banks now have access to fraud risk at a credit card and merchant level, breach reporting, and cyber data across the global merchant space – every online store, every merchant with a website, every place you might use a Mastercard.
For RiskRecon, it’s caused an explosion in the scale at which we operate. Yesterday, our customers were measured in hundreds, today it is in the thousands. The number of companies we rate measures in millions, and soon will be tens of millions, and our geographic coverage is as wide as you can find stores and companies who accept Mastercard. This is a challenge Mastercard helped us meet to ensure that even at this scale, our information is accurate and correctly prioritized and to ensure our systems are capable of operating at this massive scale.
We are now rating companies globally – from restaurants in Bahrain to street vendors in Boston, helping the smallest to the largest understand their cybersecurity risk and the practical steps they can take to improve their resilience.
For our RiskRecon customers, you will start to see some positive benefits to this scale over the next few months, including performance enhancements, further increases in the speed of adding new companies, and the new scoring model released this past week.
I could not be prouder of the RiskRecon team who have risen to this challenge and delivered on Mastercard’s goal of making actionable cybersecurity risk available to every size company. We measure success in terms of the reduction in global cybersecurity risk, and of course, a reduction in the success and monetization of cybercrime – something the whole cybersecurity industry aspires to.
To paraphrase Mastercard’s own marketing – “Actionable, prioritized cyber risk information on a global scale? Priceless”
EVP Cyber Product Innovation, Mastercard/RiskRecon