Mastercard Partners With Interos to Detect and Eliminate Risk to Financial Institutions

Mastercard will be partnering with operational resilience firm Interos, which will expand Mastercard’s security strategy and add Interos’ multi-tier risk monitoring capabilities for financial institutions, according to a press release emailed to PYMNTS Tuesday (April 12).

That will include letting organizations detect and eliminate risk across multiple areas, including cyber, financial, environmental, social and governance (ESG), restrictions, geopolitical and operational, through new networks and relations.

Per the release, the prevalence of risk has increased due to more connected and complex supplier and merchant business relations, which have seen threats developing in new ways.

“The threat landscape is evolving rapidly and financial institutions are being exposed to potential disruption across multiple dimensions,” said Johan Gerber, executive vice president, cyber and security products at Mastercard.

The release noted that many companies don’t have the capacity to track and deal with the risks, with only 11% monitoring the third-party risk continually. However, Systemic Risk Assessment is a fully automated platform, making use of artificial intelligence (AI) and looking into mapping, monitoring and modeling the business relations making up the global trade.

“Systemic risk in our business ecosystems is a challenge that impacts every aspect of our global economy,” said Jennifer Bisceglie, CEO and founder of Interos. “This partnership with Mastercard is important in providing the ability to pre-solve issues before they become costly crises. Together, we’re excited to bring real-time, continuous insights and operational resilience to every market around the world.”

PYMNTS wrote that Mastercard has been looking into filing 15 non-fungible token (NFT) and metaverse trademark applications with the U.S. Patent and Trademark Office.

Read more: Mastercard Seeking Metaverse and NFT Trademarks

Mastercard is looking at establishing a digital community to allow interactions with digital assets, a digital marketplace, metaverse card processing and other such things.

One of the trademark filings was for the company’s “Priceless” slogan, coming with art, text, audio and video authenticated through NFTs. Another shows Mastercard’s logo in the metaverse and other virtual worlds, to be used for processing card transactions.