Mastercard has partnered with Interos, a compliance solution provider to broaden its security policy and introduce Interos’ layered risk monitoring resources for financial organizations. This will help institutions to detect and eradicate the risk beforehand in various channels- such as financial, cyber, restrictions, ESG, operational and geopolitical– in the entire channel of the client-business association.
Systematic Risk Assessment is going to be the first of its kind, completely programmed platform with the help of artificial intelligence and machine learning to map, monitor, and develop the critical network of business associations that influence global trade. The platform also consists of a comprehensive operational resilience risk score that enables the businesses to assess organizations they have relations with for liabilities depending on various risk factors, offering real-time insights that help them to take any action before the damage.
Johan Gerber, Executive Vice President, Cyber and Security Products, Mastercard, said, “The threat landscape is evolving rapidly and financial institutions are being exposed to potential disruption across multiple dimensions. External risks are becoming more sophisticated and complex. Our partnership with Interos’ makes it simpler for financial institutions to continuously evaluate risk, helping advance security and trust in the digital ecosystem.”
In recent months, risk has gained renewed implications. Risks can emerge everywhere in an institution’s third-party corporate network, thanks to an increasing number of complicated and interrelated supplier and merchant business relationships. Many businesses lack the ability to identify and mitigate these risks: according to Interos’ data, just 11% of companies continuously monitor their third-party risk.
Jennifer Bisceglie, CEO, Founder, Interos, stated, “Systemic risk in our business ecosystems is a challenge that impacts every aspect of our global economy. 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.”