Visa has announced a strategic partnership with Expel, a leading security operations provider, as part of its expansion in the Managed Detection and Response (MDR) sector. This collaboration aims to simplify the process for clients worldwide to prepare for and defend against cybersecurity threats.
According to a press release, Visa stated, "Companies are dealing with a large quantity of issues related to cybersecurity, including an ever-expanding threat landscape, a constant stream of cybersecurity alerts and events, and challenges hiring and retaining cybersecurity talent."
This partnership, announced on October 2, 2023, enables clients to shift from reactive to proactive security centered on risk-based decision-making. It also enhances their capabilities for detecting and responding to cybersecurity threats, 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 partnership streamlines security operations management, allowing resources to be redirected toward high-priority initiatives, while also providing round-the-clock security monitoring and response services.
"Organizations across the globe trust Visa to help mitigate risk and facilitate safe and secure transactions, so we're thrilled to complement Visa's own best-in-class efforts to prevent cybercrime with our MDR capabilities," said Dan Webb, VP Global Channel Sales & Alliances at Expel, according to a press release. "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."
Visa will introduce Expel's solution to its clients in the United States and Canada initially, with a global expansion to follow. Expel® MDR, designed to enhance security, will enable Visa's clients to quickly identify and address threats, minimize alert-to-response time, halt threats automatically, and gain valuable security metrics. This move comes as global cybercrime costs continue to rise, projected to reach $10.5 trillion USD annually by 2025.