Mastercard Bids for Startup RiskRecon.

Yesterday Mastercard announced that is negotiating to acquire RiskRecon, a startup in the city of Salt Lake that employs public domain information to assess security requirements for businesses and other organizations. The final purchase price, if the deal goes through, has not yet been released. The imminent purchase highlights how important helping customers of financial companies like Mastercard learn how to better use cybersecurity apps and tools to protect their private and sensitive data. RiskRecon was founded on the principle that consumers need a reliable and objective scoring of financial companies and their riskiness or stability in real time.

The supervisor for cyber intelligence for Mastercard, Ajay Bhalla, told reporters that RiskRecon would offer an excellent chance to build on their current technology and strategies to keep cyberspace secure for users in the upcoming years, when cyber crime is likely to become much more aggressive and sophisticated, as the increase in ransomware indicates.

Kelly White, the CEO and founder of RiskRecon, told reporters last year that his company accesses public records only to analyze risk factors for financial companies so that consumers can feel easy in their minds about whether or not their patronage and/or investments will be safe and fully protected from cyber criminals.