MasterCard has unveiled a suite of tools designed to help banks assess cyber risks across their ecosystem and prevent breaches.

As Bloomchain.ru reports, the artificial intelligence (AI)-powered cybersecurity solution dubbed Cyber Secure helps analyze data and identify possible problems.

Cyber Secure is based on the technology developed by RiskReacon, which MasterCard acquired last December.

The Cyber Secure suite’s AI combines multiple public and proprietary data sources and then evaluates this data against security and infrastructure criteria, with the impact and importance of each vulnerability analyzed to produce a cyber risk rating and issue priority navigator.

MasterCard believes that the new product can be used by banks to identify and prioritize threats. In addition, on the basis of Cyber Secure, credit organizations can offer services to their business clients.

“The world today faces a $5.2 trillion cyber breach problem. This is one of the biggest threats to consumer trust,” said Ajay Bhalla, President of Cyber and Intelligence at Mastercard.

In 2019, Mastercard saved stakeholders $20bn of fraud through its AI-enabled cyber systems.

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