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July 2023, New Delhi: Mastercard today announced a collaboration with three new partners – Inspira Enterprise, iValue Solutions, and CyberAssure to bring Mastercard’s RiskRecon, a solution for managing third-party cyber risks, to customers at a pan-India level.
Indian Computer Emergency Response Team (CERT-In) tracked 12.67 lakh cyberattack incidents in 2022. With cyberattacks rapidly increasing in the country, there is a need to tackle the rising number with an urgency. RiskRecon, by Mastercard, is a cybersecurity product that enables organizations to assess and manage cybersecurity threats which occur across supply chains and third-party vendors. Its self-scan tool helps monitor the cybersecurity performance of organizations by employing non-invasive techniques to scan organizations’ public systems and analyze the cybersecurity risk posture of those systems.
As part of this collaboration, Inspira Enterprise, iValue Solutions, and CyberAssure will introduce RiskRecon to its diverse customer base across sectors, assisting them in enhancing cybersecurity measures in the country and empowering businesses to protect their assets from the growing menace of cyber threats.
Commenting on the collaboration Joy Sekhri, Vice President, Cyber & Intelligence Solutions, South Asia, Mastercard said, “This collaboration is in line with Mastercard’s commitment to enable businesses to thrive in a secure digital ecosystem and reinforces Mastercard’s position as a trusted partner in building cyber resilience. Collaborating with Inspira Enterprise, iValue Solutions, and CyberAssure allows Mastercard to expand footprint and deliver RiskRecon offerings to a wider range of businesses in India. By combining Mastercard expertise with the comprehensive solutions offered by channel partners, the solution addresses both cybersecurity risks and financial vulnerabilities.”
Munish Gupta – President, Cybersecurity Consulting & Advisory Practice, Inspira Enterprise Pvt Ltd, said, “We are thrilled to collaborate with Mastercard and introduce RiskRecon as part of our comprehensive Third-Party Risk Management (TPRM) Framework. Our solution empowers organizations to assess and profile their partners and vendors, developing contextualized risk models and effective strategies for mitigating risks. Through this partnership, our customers in India will gain enhanced cyber protection, enabling proactive management of cyber risks, addressing vulnerabilities, and ensuring the security of their critical assets. Together, we equip businesses to swiftly tackle third-party cybersecurity risks with confidence.”
At Mastercard, safety and security of payments is a topmost priority and we are carefully crafting solutions for customers and end users across the spectrum. The company leverages Artificial intelligence (AI) and machine learning (ML) that are playing an increasing role in cybersecurity, with security tools analyzing data from millions of cyber incidents and using it to identify potential threats or a new variant of malware.
About Mastercard (NYSE: MA), www.mastercard.com
Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.