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How collaboration will put Europe at the forefront of enterprise resilience

It’s time for businesses, governments and industry bodies to work together to create a stronger cyber ecosystem that everyone can trust.

The way we interact and transact has evolved at speed, resulting in today’s digitally hyper-connected ecosystem. This evolution delivers significant opportunities for all of us when it comes to accessibility and convenience. However, there are also significant cyber and wider security risks that know no borders. Hackers know no limits. To put it in numbers, the cost of data breaches is set to increase to $2.1 trillion globally by 2019, according to the US Securities and Exchange Commission. Increasingly sophisticated and damaging threats can strike both the digital and physical world from every corner of the globe at any time.

In this environment, it has quickly become apparent that only through cross-organisational collaboration, which draws together a diverse pool of talent, will we be able to tackle these threats. And in doing so, deliver a safer, more resilient world.

Today I’m making a small contribution to a big cause as I have the pleasure of announcing the launch of Mastercard’s European Cyber Resilience Centre, a new, state-of-the-art cyber and security centre in Europe.

The European Cyber Resilience Centre will serve as a single cyber and security hub for the region. A centre that brings together cyber and physical security experts – threat and opportunity analysts, development and response researchers – from across Mastercard, our customers and regulatory partners. Through our collaborative approach, the centre will provide a platform through which private and public organisations will share intelligence and deliver coordinated responses to reduce critical cyber – but also fraud, geo-political, and physical– risks to Mastercard and the payment ecosystem.

Located at Mastercard’s European headquarters in Waterloo, Belgium, the centre will bring Mastercard even closer to key customers and partners. Mirroring the functionality of our U.S. Fusion Center, today’s announcement is a realisation of our ambition to support truly international resilience efforts. Our ultimate aim is to help secure our digital ecosystem, so that everyone – from the biggest organisations to individual people – can navigate it and reap its benefits with confidence and trust.

Read more about the launch of the European Cyber Resilience Centre here