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Mastercard Expands Investment in Cyber ​​Innovation at Vancouver Center of Excellence

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Two years after announcing Global Intelligence and the Cyber ​​Center of Excellence at the Vancouver Tech Hub, Mastercard is preparing to showcase some of the world’s most impressive innovations in the field of cybersecurity.

The city is characterized by being one of MasterCard’s eight global technology hubs, alongside Dublin, Sydney and New York. These strategically deployed hubs allow the company to grow its footprint closer to its customers and industry-leading talent. The designation was established in 2020 and Mastercard has invested $ 510 million in collaboration with the Government of Canada. The Vancouver Tech Hub is also the only hub with a cybersecurity center of excellence.

Today, the company is preparing to open its doors and provide the public with the opportunity to discover the latest cybersecurity advances.

Prior to the establishment of the Center of Excellence, according to Sasha Krstic, President of Mastercard Canadas, much of Mastercards Canada’s business was concentrated in Toronto. Everything changed in 2017 when the company acquired Vancouver-based NuData, a world leader in fraud management, biometrics and digital security products.

We knew that Vancouver was already very popular and the capital of technology talent was increasing, so it makes sense to leverage Canada’s expertise and innovation throughout the global MasterCard network. .. West Coast of Canada. Since designating the Center of Excellence in 2020, Mastercard has created more than 230 technical positions in the Vancouver area, and Krstic says the company is considering hiring.

She says she was excited to bring together the best engineers to establish Canada as a world leader in cyber innovation.

Anchoring in a city like Vancouver will help build partnerships across the country and support Canada as a whole in terms of the global cybersecurity and digital payment ecosystem.

For example, Mastercard recently partnered with the University of Toronto Metropolitan to invest $ 1.25 million to establish two training programs focused on promoting diversity and inclusion in the cybersecurity sector. In April, Mastercard established a partnership with the University of New Brunswick and provided a $ 1.75 million investment to enhance school research and learning at the Canadian Cybersecurity Institute.

We know that cybersecurity is an increasingly big challenge. That’s not just for legacy companies that are moving to the digital space because of a pandemic, Krstic says. Small and medium-sized enterprises and large enterprises that follow the future growth trajectory must play an increasingly active role in the global digital economy.

She adds that the pandemic has forced more businesses to digitize, and as the virtual world expands, so does the threat situation. As a result, maintaining confidence in the security and reliability of the global digital financial ecosystem is complex and essential in the face of this increasingly sophisticated threat environment.

Chris Reed, Executive Vice President of Identity Solutions at MasterCard, our mission is to build trust in the digital economy and our job is to make digital interactions as safe, simple and secure as possible. Focuses on. The raw materials are data and insights, and the recipes for many solutions are AI features. That’s why Vancouver’s Intelligence and Cyber ​​Center of Excellence has an important AI presence.

Artificial intelligence and biometrics are at the heart of many cybersecurity and payment solutions today, but Reed says the Center of Excellence is also focusing on developing new technologies such as cloud storage, quantum computing, and virtual reality. I’m adding.

Two years after its inception, Mastercards Global Intelligence and the Cyber ​​Center of Excellence are preparing to showcase some of these innovations at the new Experience Center on May 25th.

Innovative cybersecurity products and solutions being developed through the Center of Excellence at the Vancouver Tech Hub are already transforming the future of global digital payments, Reed said. The new Experience Center offers the opportunity to discover these up-and-coming solutions directly through exciting demos, creating a space for community collaboration and learning.

Krstic explains that as our world becomes more dependent on digital technology, the security and reliability of our digital financial infrastructure has become a major concern for both businesses and governments around the world. increase. Vancouver, and more broadly Canada, now secures a place at the forefront of this important and growing industry.

It reduces the cost of cyberattacks, enables connected devices to become tomorrow’s secure payment devices, and addresses the growing vulnerabilities associated with the Internet of Things. Krstic says he created this Center of Excellence to address some of these very important challenges.

As the Center of Excellence develops new innovations across various emerging technology sectors, Krstic says he believes Vancouver will be a city and Mastercard will be a company.

As a tech company in the payments space, she says she’s always been looking for ways to innovate beyond cards. The Global Intelligence and Cyber ​​Center of Excellence in Vancouver is a phenomenal expansion of Canada’s presence, leveraging world-class Canadian talent to benefit consumers, businesses and governments in Canada and around the world. Helps build cyber security solutions.

Advertising capabilities created by Globe Content Studio using MasterCard. The Globes editorial department was not involved.

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