RiskRecon

The RiskRecon company is founded in 2015 in Salt Lake City (the State of Utah, the USA). It develops the service using artificial intelligence for assessment of cyber security of business.

History

2019: MasterCard purchased RiskRecon

At the end of December, 2019 Mastercard announced acquisition of RiskRecon company and its service for identification of indirect threats of cyber security in a business ecosystem of the companies. Mastercard will connect banks to this service.

The AI service allows the companies to estimate cyber security of the business partners, for example, in the field of deliveries. Mastercard can use RiskRecon for check of partner banks — the service will allow to learn whether the companies take proper measures for data protection of clients.

Mastercard announced acquisition of RiskRecon company and its service for identification of indirect threats of cyber security in a business ecosystem of the companies

The RiskRecon AI service estimates cyber security of the companies, collecting data on the public systems. RiskRecon considers such factors as setup of the website according to recommendations and existence of the internal applications available through open network. In general algorithms of service estimate about 40 different parameters.

It is simple to guess why the technology interested in MasterCard: systems working with credit cards are the favourite purpose of hackers, and the service of detection of risks RiskRecon ideally will allow Mastercard to prevent the majority of cyber attacks. Besides, Mastercard can use service not only for internal protection, but also offer RiskRecon to banks, online stores and other partners for risk reduction.

The company already uses a number of services for ensuring cyber security. The system of early detection of threats Mastercard warns banks if accounts of clients are compromised as a result of cyber attacks, and the Cybersecurity tool kit which is released in 2019 allows partners of bank to protect confidential information.

Before the transaction with Mastercard the RiskRecon company attracted in total $40 million from investors among whom the Accel company acted.^[1]

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