Visa has launched a threat intelligence platform to help financial institutions detect cyber risks before they turn into fraud.
The Visa Threat Intelligence Platform brings together cyber and payments intelligence to help banks and other financial institutions identify threats linked to data compromise, credential theft and system exploitation.
“Fraud is often the result of cyber incidents that go undetected until it is too late.
With the Visa Threat Intelligence Platform, we are helping financial institutions identify risks earlier and respond with greater precision before they may lead to fraud or financial loss.”
said Mandy Lamb, Head of Value-Added Services, Visa Europe.
The platform was developed by Visa’s defence operations team and tested internally across its global payments network before being offered to clients.
Visa says it blocks about 90 million cyberattacks and 11 million phishing emails each month across more than 200 countries.
The Visa Threat Intelligence Platform is designed for security, fraud and risk teams in the financial sector.
It helps monitor malware indicators, vulnerabilities, brand impersonation, digital identity risks and compromised payment credentials found on the dark web.
The platform also uses VisaNet insights to help fraud and risk teams assess which threats may have a direct payments impact.
Visa has invested more than US$13 billion in technology over the past five years, including efforts to reduce fraud and strengthen network security.
Featured image: Edited by Fintech News Singapore, based on image by yrfrfr78 via Magnific