Latest news with #CyberResilienceCenter
Fintech News ME
26-05-2025
- Business
- Fintech News ME
Mastercard Launches Cyber Resilience Centre in Riyadh
Mastercard has launched its Cyber Resilience Centre in Riyadh, an initiative aimed at fostering collaboration within the financial sector to strengthen the Kingdom's commerce and payment security framework. This marks Mastercard's first such initiative in the Middle East, extending its network of cyber resilience centres already established in Europe and the United States. Riyad Bank is the first institution to join as a partner and will work with Mastercard on various initiatives including training programmes, risk assessments, and the implementation of international cybersecurity standards. The establishment of the centre represents a key step in supporting Saudi Arabia's cybersecurity infrastructure and facilitating collaboration to safeguard its rapidly growing digital economy. As cyber threats become more advanced and persistent, the centre is intended to serve as a platform for organisations to access the tools, knowledge, and strategies necessary to address risks effectively and in real time. It also aims to contribute to the development of local cybersecurity expertise and promote ongoing learning and capacity building. The centre will focus on three primary areas. First, education and training, which involves working with financial institutions to introduce cybersecurity certifications in Arabic and organise knowledge-sharing sessions. Second, the adoption of standards and best practices to improve trust in the digital landscape, including the creation of benchmarks and measurable progress indicators. Lastly, risk assessment and readiness efforts will be supported through cyber defence simulations, scenario planning, and workshops designed to anticipate and respond to emerging threats. Commenting on the partnership, Ibrahim AlSulobi, Senior Vice President and Head of Cyber & Information Security at Riyad Bank, said: 'This partnership enables us to further strengthen our defence frameworks, accelerate the adoption of global best practices of global security, and fortify security in the Kingdom's financial sector. We remain committed to delivering a secure, seamless, and trusted banking experience for every customer.' Adam Jones, Executive Vice President and Division President for West Arabia at Mastercard, added: 'The launch of the Cyber Resilience Center in Riyadh reflects Mastercard's commitment to staying ahead of emerging risks and helping our partners do the same. We're proud to work with Riyad Bank to help advance a secure ecosystem in the Kingdom, and ensure that people, businesses, and institutions in Saudi Arabia are protected through world-class capabilities.' Mastercard stated that the Cyber Resilience Centre will help position Saudi Arabia as a regional leader in digital security, reinforcing the country's financial sector as a stable platform for innovation and sustainable economic growth. The company plans to continue expanding its cybersecurity offerings through innovation and strategic acquisitions.
Zawya
21-05-2025
- Business
- Zawya
Mastercard launches Cyber Resilience Center in Saudi Arabia
Riyad Bank joins as the first partner to support cybersecurity innovation and best practices in the Kingdom Riyadh, Saudi Arabia: Mastercard has launched its Cyber Resilience Center, an initiative that brings together key players from the financial sector to foster collaboration and support shared goals in building a secure commerce and payment ecosystem in the Kingdom. This is Mastercard's first initiative in Middle East, extending the company's global network of cyber resilience centers which includes locations in Europe and the United States. Riyad Bank has joined as the first partner and will collaborate with Mastercard on training programs, risk evaluations, and the adoption of global cybersecurity standards. The center marks a pivotal milestone in reinforcing the Kingdom's cybersecurity infrastructure, enabling stronger collaboration to protect its fast-evolving digital economy. With cyber threats becoming more sophisticated and persistent, the center will provide a platform to equip organizations with the tools, expertise, and strategies needed to detect, prevent, and respond to risks in real-time. It will also serve as a catalyst for expanding local cybersecurity talent and fostering a culture of continuous learning and improvement. At the heart of the initiative are three core pillars: Education & Training: Supporting the development of local cybersecurity talent by working with financial institutions to introduce certifications in Arabic and host knowledge-sharing sessions. Standards & Best Practices: Building trust in the digital ecosystem by setting measurable cybersecurity benchmarks and enabling institutions to track progress through clearly defined improvement targets. Risk Assessments & Readiness: Enhancing preparedness through cyber defense exercises, scenario planning, and threat-casting workshops to anticipate and mitigate evolving risks. Mastercard's Cyber Resilience Center aligns with the objectives of Saudi Vision 2030, contributing to the Kingdom's commitment to secure digital transformation, improved public services, and a robust environment for technology-led innovation. Mastercard has invested $10.7 billion in cybersecurity innovation over the last six years, assessing evolving threats, protecting customers and enhancing trust across the digital ecosystem. According to the 2025 Digital Trust Insights Survey, 55% of Middle East organizations plan to prioritize digital and technology risk mitigation over the next year, compared to 53% globally. 'At Riyad Bank, safeguarding customer trust is central to everything we do. In a rapidly evolving cyber threat landscape, our collaboration with Mastercard through the Cyber Resilience Center is a testament of our proactive approach to cybersecurity. This partnership enables us to further strengthen our defense frameworks, accelerate the adoption of global best practices of global security, and fortify security in the Kingdom's financial sector. "We remain committed to delivering a secure, seamless, and trusted banking experience for every customer,' said Mr. Ibrahim A Al-Sulobi SVP, Head of Cyber & Information Security Dept at Riyad Bank. 'We live in an ultra-connected world where cyber threats are becoming more targeted and complex, even as the need for trust and assurance increases. The launch of the Cyber Resilience Center in Riyadh reflects Mastercard's commitment to staying ahead of emerging risks and helping our partners do the same. We're proud to work with Riyad Bank to help advance a secure ecosystem in the Kingdom, and ensure that people, businesses, and institutions in Saudi Arabia are protected through world-class capabilities,' said Adam Jones, EVP, Division President, West Arabia, Mastercard. The Cyber Resilience Center will further position Saudi Arabia as a regional leader in digital security and strength, ensuring its financial sector remains a trusted foundation for innovation and long-term economic growth. Mastercard will continue to expand and enhance its cybersecurity capabilities through innovation and acquisitions. Last year, Mastercard acquired Recorded Future, the world's largest threat intelligence company. The acquisition aims to strengthen trust and enhance security within the digital payment ecosystem. About Mastercard Mastercard powers economies and empowers people in 200+ countries and territories worldwide. Together with our customers, we're building a sustainable economy where everyone can prosper. We support a wide range of digital payments choices, making transactions secure, simple, smart and accessible. Our technology and innovation, partnerships and networks combine to deliver a unique set of products and services that help people, businesses and governments realize their greatest potential.
