Mastercard, on December 20, announced its acquisition of Recorded Future for $2.65 billion. Recorded Future is a leading cybersecurity firm specialising in AI-driven threat intelligence.
This strategic move is designed to enhance Mastercard’s security capabilities, aligning with the company’s commitment to improving safety and trust in the rapidly evolving digital payments landscape.
Staffan Truvé and Christopher Ahlberg founded Recorded Future, a predictive threat intelligence company that provides useful insights to reduce possible cyber threats. Their cutting-edge technology fits in well with Mastercard’s global experience in identity solutions, fraud prevention, and real-time fraud scoring.
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The incorporation of Recorded Future into Mastercard’s cybersecurity architecture is expected to improve safeguards for both businesses and consumers globally.
Significance of Mastercard’s acquisition of Recorded Future
Mastercard’s Executive Vice President of Security Solutions, Johan Gerber, underlined the significance of this purchase and its capacity to handle changing cyber threats and guarantee safe transactions.
“As the world becomes more digitized, there’s an increased focus on securing every interaction and transaction against evolving cyber threats,” said Johan Gerber, executive vice president, Security Solutions at Mastercard. “Adding Recorded Future’s AI-driven threat intelligence capabilities to our cybersecurity services, identity solutions and real-time fraud scoring will enable us to better support our customers in these efforts.”
Mastercard is dedicated to raising the bar for trust in the payment ecosystem and democratising cybersecurity to open up new business opportunities in the increasingly connected digital world.
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Safeguarding the digital ecosystem
Its package of cybersecurity services is centred on evaluating the exposure to cyber risk, offering AI and other technological advances to safeguard the digital ecosystem, and making ongoing improvements to establish confidence for individuals and companies globally.
In addition to expanding these capabilities, Recorded Future will enhance the efficacy of current goods and services, making AI models even more intelligent, and offer chances to provide various client sets with useful intelligence and actionable insights.
This acquisition highlights Mastercard’s position as a pioneer in safeguarding the future of digital payments as cyber threats increase in tandem with technological breakthroughs.