Mastercard has launched its Cyber Resilience Centre in Riyadh, an initiative aimed at fostering collaboration within the financial sector to strengthen the Kingdom’s commerce and payment security framework.
This marks Mastercard’s first such initiative in the Middle East, extending its network of cyber resilience centres already established in Europe and the United States.
Riyad Bank is the first institution to join as a partner and will work with Mastercard on various initiatives including training programmes, risk assessments, and the implementation of international cybersecurity standards.
The establishment of the centre represents a key step in supporting Saudi Arabia’s cybersecurity infrastructure and facilitating collaboration to safeguard its rapidly growing digital economy.
As cyber threats become more advanced and persistent, the centre is intended to serve as a platform for organisations to access the tools, knowledge, and strategies necessary to address risks effectively and in real time.
It also aims to contribute to the development of local cybersecurity expertise and promote ongoing learning and capacity building.
The centre will focus on three primary areas.
First, education and training, which involves working with financial institutions to introduce cybersecurity certifications in Arabic and organise knowledge-sharing sessions.
Second, the adoption of standards and best practices to improve trust in the digital landscape, including the creation of benchmarks and measurable progress indicators.
Lastly, risk assessment and readiness efforts will be supported through cyber defence simulations, scenario planning, and workshops designed to anticipate and respond to emerging threats.
Commenting on the partnership, Ibrahim AlSulobi, Senior Vice President and Head of Cyber & Information Security at Riyad Bank, said:
“This partnership enables us to further strengthen our defence frameworks, accelerate the adoption of global best practices of global security, and fortify security in the Kingdom’s financial sector. We remain committed to delivering a secure, seamless, and trusted banking experience for every customer.”
Adam Jones, Executive Vice President and Division President for West Arabia at Mastercard, added:
“The launch of the Cyber Resilience Center in Riyadh reflects Mastercard’s commitment to staying ahead of emerging risks and helping our partners do the same. We’re proud to work with Riyad Bank to help advance a secure ecosystem in the Kingdom, and ensure that people, businesses, and institutions in Saudi Arabia are protected through world-class capabilities.”
Mastercard stated that the Cyber Resilience Centre will help position Saudi Arabia as a regional leader in digital security, reinforcing the country’s financial sector as a stable platform for innovation and sustainable economic growth.
The company plans to continue expanding its cybersecurity offerings through innovation and strategic acquisitions.
Featured image credit: Mastercard
