Fintech & Ecommerce

Mastercard Acquires Baffin Bay to Strengthen Cybersecurity

Mastercard acquired the cloud-based cybersecurity company Baffin Bay Networks to improve its resiliency against cyber-attacks with new AI ‘Cyber Shield’

Mastercard Acquires Baffin Bay to Strengthen Cybersecurity

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Mastercard has acquired Baffin Bay Networks – a cloud-based cybersecurity company – to enhance multi-layered protection against cyber risks.

Sweden-based Baffin Bay would further strengthen Mastercard’s service offerings and value, mitigating exposure to risk across the ecosystem. While Mastercard’s existing RiskRecon data analytics already enables organizations to identify vulnerabilities in advance, Baffin Bay’s automated Threat Protection service will help prevent attacks against cyber systems.

The new integration uses instantaneous, predictive and cloud-based  AI technology to provide “faster, smarter and more effective protection from cyber risk.” Baffin Bay’s solution automatically filters and counteracts malicious internet traffic, preventing costly and potentially catastrophic breach cyber events.

For instance, it stops DDoS attacks, providing businesses with data and statistics to help companies make proactive decisions about their security policies. The threat data is collected from a global sensor network, while technology continuously refines itself and acts proactively against any Internet threat. All Threat Protection services can be monitored in real-time via the dedicated portal.

Both the existing and newly-added cybersecurity features will be united in a single cyber service available to all Mastercard customers across the globe.

Last month, Mastercard also partnered with Nigerian digital payment startup NowNow to improve the cybersecurity options available to Nigerian SMEs who typically do not have the resources to defend themselves from massive cyber attacks.

Nina Bobro

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Nina is passionate about financial technologies and environmental issues, reporting on the industry news and the most exciting projects that build their offerings around the intersection of fintech and sustainability.