Mastercard and VikingCloud: A New Era of Cybersecurity Solutions for SMBs
In an increasingly digital world, small- to medium-sized businesses (SMBs) face a daunting challenge: protecting themselves from the ever-evolving landscape of cyber threats. Recognizing this urgent need, Mastercard, a global leader in payment technology, has partnered with VikingCloud, a prominent cybersecurity and PCI compliance company, to develop innovative cybersecurity solutions tailored specifically for SMBs. This collaboration aims to empower these businesses with the tools they need to evaluate their cyber defense posture, remediate vulnerabilities, and stay ahead of emerging threats.
The Need for Tailored Cybersecurity Solutions
SMBs often operate with limited budgets and technical resources, making them particularly vulnerable to cyberattacks. According to recent studies, a significant percentage of cyberattacks target smaller businesses, as they are perceived as easier targets compared to larger corporations. This partnership between Mastercard and VikingCloud seeks to bridge the cybersecurity gap for SMBs, providing them with accessible, high-value solutions that can significantly reduce their risk of disruption.
Co-Developed Solutions Set to Launch
The first suite of co-developed cybersecurity solutions is set to be available to VikingCloud’s customers in the second quarter of the year. These solutions will leverage Mastercard’s advanced risk scoring and evaluation capabilities alongside VikingCloud’s expertise in cybersecurity remediation. By combining their strengths, the two companies aim to create a robust framework that helps SMBs not only identify their vulnerabilities but also implement effective strategies to mitigate them.
Empowering SMBs Through Collaboration
VikingCloud’s CEO, Jim Burke, emphasized the importance of this collaboration, stating that the goal is to create “low-touch, high-value cybersecurity solutions.” This approach allows merchants to focus on running and growing their businesses with reduced risk of cyber disruptions. The partnership is designed to build trust with merchants, ensuring they have the necessary support to navigate the complexities of cybersecurity.
Mastercard’s Executive Vice President and Head of Security Solutions, Johan Gerber, echoed this sentiment, highlighting the commitment to bringing practical cybersecurity solutions to millions of SMBs. This initiative is not just about technology; it’s about enabling businesses to thrive in a secure environment.
A Multifaceted Approach to Cybersecurity
To bolster their cybersecurity posture, businesses are encouraged to adopt a multifaceted approach that encompasses advanced technology, continuous education, and rigorous exercises. Ron Green, a cybersecurity fellow and former Chief Security Officer at Mastercard, advocates for technologies that ensure employees perform their tasks securely and efficiently. This holistic approach is vital for creating a culture of security within organizations, empowering employees to recognize and respond to potential threats.
Expanding Cybersecurity Capabilities
Mastercard’s commitment to enhancing its cybersecurity capabilities is further evidenced by its recent acquisition of Recorded Future, a threat intelligence company. This acquisition aims to integrate threat intelligence and AI-powered analytics into Mastercard’s cybersecurity offerings, providing businesses with actionable insights to better defend against cyber threats.
Additionally, Mastercard has established the Europe Cyber Resilience Center, a hub designed to combat cybercrime in the region. This center serves as a focal point for thought leadership in cybersecurity, aiming to improve defenses against cyber threats and foster collaboration among businesses.
Conclusion
As cyber threats continue to evolve, the partnership between Mastercard and VikingCloud represents a significant step forward in providing SMBs with the necessary tools to protect themselves. By developing tailored cybersecurity solutions that address the unique challenges faced by smaller businesses, these companies are not only enhancing the security landscape but also empowering entrepreneurs to focus on what they do best—growing their businesses. With the launch of these solutions on the horizon, the future looks promising for SMBs seeking to fortify their defenses against cybercrime.