Visa has partnered with Expel, a leading security operations provider, to expand its Managed Detection and Response (MDR) services and assist clients in cybersecurity risk management. This collaboration aims to simplify the process for clients worldwide to prepare for and defend against cybersecurity threats.
According to a press release, Visa highlighted the challenges that companies face in dealing with cybersecurity issues, including the ever-expanding threat landscape, a constant stream of cybersecurity alerts and events, and difficulties in hiring and retaining cybersecurity talent.
The partnership, announced on October 2, 2023, allows clients to shift from reactive to proactive security centered on risk-based decision-making. It enhances their capabilities for detecting and responding to cybersecurity threats by leveraging MDR services backed by external intelligence and insights into emerging threat tactics. Additionally, clients gain improved visibility across diverse attack surfaces, from cloud environments and on-premises systems to SaaS applications and Kubernetes.
The collaboration between Visa and Expel streamlines security operations management, enabling resources to be redirected toward high-priority initiatives. It also provides round-the-clock security monitoring and response services. With Expel's solution, Visa's clients can quickly identify and address threats, minimize alert-to-response time, halt threats automatically, and gain valuable security metrics.
Dan Webb, VP Global Channel Sales & Alliances at Expel, expressed excitement about complementing Visa's efforts to prevent cybercrime with Expel's MDR capabilities. Webb stated, "We’re honored that Visa entrusts us as a customer and recommends Expel as the MDR provider that will help their customers get more actionable insights from their security investments, reduce the amount of time they’re spending investigating threats, and ultimately sleep better at night knowing they have us monitoring and responding in their environments."
Initially, Visa will introduce Expel's solution to its clients in the United States and Canada, with plans for global expansion. This strategic partnership comes as global cybercrime costs continue to rise, projected to reach $10.5 trillion USD annually by 2025.
Visa's collaboration with Expel demonstrates its commitment to assisting clients in effectively managing cybersecurity risks and staying ahead of evolving threats. By leveraging Expel's MDR services, Visa aims to provide its clients with enhanced security measures and actionable insights to mitigate cyber risks.