Visa taps Expel for cyber security needs

Visa has formed a partnership with Expel, a security operations provider headquartered in Virginia, to enhance its clients’ ability to anticipate and protect against cyber threats. The collaboration aims to address the growing concern of cybercrime, with the cost of global cyber threats projected to reach $10.5 trillion annually by 2025.

Visa plans to utilise Expel’s managed detection and response (MDR) solution, which boasts the capability to reduce alert-to-response times to just “minutes.” This technology will empower Visa’s clients to detect potential cyber risks while aligning with their specific key assets and metrics.

The MDR solution leverages insights from external intelligence, current threat techniques, and trends to identify vulnerabilities in businesses. It is adaptable to various attack surfaces, including cloud environments, on-premises systems, Software-as-a-Service (SaaS) applications, and Kubernetes.

James Mirfin, the global head of Visa’s risk and identity solutions, emphasises that cybercrime can result in significant financial losses, citing IBM’s findings that businesses lose over $4 million annually due to cybercrime. These losses not only affect financial stability but also hinder innovation and market agility.

Mirfin believes that Visa’s partnership with Expel will enable them to offer a more comprehensive security solution to both existing and new clients within their network. He acknowledges the increasing demand from customers for holistic risk management solutions, including cyber risk mitigation.

Dan Webb, VP of global channel sales and alliances at Expel, promises that the integration of their MDR solution will provide Visa customers with actionable insights and reduce the time spent on investigating threats.

Initially, Visa will offer this solution to its clients in the United States and Canada. They have confirmed plans to eventually roll out the service globally, although specific timelines for the global expansion have not been disclosed.