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Mastercard (MA), MAS Partner for Cyber Resilience in Singapore
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Mastercard Incorporated (MA - Free Report) and The Monetary Authority of Singapore (MAS) have joined forces through a Memorandum of Understanding (MoU) to bolster cooperation in cybersecurity. The primary objective of this alliance is to fortify cyber resilience within Singapore's financial services sector.
Through this strategic partnership, MAS and Mastercard aim to engage in bilateral information sharing, joint analysis of cyber threats, and competency-building activities. These initiatives intend to elevate cyber situational awareness, generate actionable insights and enhance the capability of financial institutions to combat cyber threats effectively.
Collaborative Initiatives for Cyber Defense
Under the MoU, MAS and Mastercard will collaborate closely on various fronts. These include sharing cyber threat intelligence to bolster understanding and response capabilities within the financial services sector. Additionally, a joint analysis of emerging cyber threats will facilitate the development of effective countermeasures. Furthermore, competency-building activities such as cybersecurity exercises, staff training and study visits will contribute to enhancing the overall cyber resilience of the financial ecosystem in Singapore. Through these collaborative efforts, MAS and Mastercard aim to establish a robust defense against evolving cyber threats.
Commitment to Cybersecurity and Partnership
Vincent Loy, assistant managing director (Technology) at MAS, emphasized the importance of public-private partnerships in fostering cyber resilience within the financial ecosystem. He highlighted the significance of the MoU in advancing cybersecurity capacity building. Ari Sarker, president Asia Pacific, Mastercard, echoed this sentiment and stressed the need for cybersecurity in today's interconnected economy. He expressed confidence in the partnership's ability to strengthen the entire ecosystem's security. Together, MAS and Mastercard are committed to securing the financial landscape in Singapore and beyond, leveraging their collective resources and expertise to address evolving cyber threats effectively.
Price Performance and Zacks Rank
Shares of Mastercard have gained 10.2% in the past year compared with the industry’s 7.4% growth. MA currently carries a Zacks Rank #3 (Hold).
International Money Express beat earnings estimates in two of the last four quarters while missing in the other two. The stock has gained 0.1% year to date. The Zacks Consensus Estimate for IMXI’s 2024 earnings implies a 13.9% increase from the year-ago actuals.
PagSeguro delivered a trailing four-quarter average earnings surprise of 10.1%. The stock has gained 6.7% year to date. The Zacks Consensus Estimate for PAG’s 2024 and 2025 earnings suggests growth of 17.4% and 10.7%, respectively, from a year ago.
The Zacks Consensus Estimate for Expensify’s 2024 and 2025 earnings indicates a gain of 2300% and 45.5% from the prior-year levels, respectively. The stock has lost 37.7% year to date. The consensus estimate for 2024 and 2025 has moved 83.3% and 45.5% north, respectively, in the past 60 days.
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Mastercard (MA), MAS Partner for Cyber Resilience in Singapore
Mastercard Incorporated (MA - Free Report) and The Monetary Authority of Singapore (MAS) have joined forces through a Memorandum of Understanding (MoU) to bolster cooperation in cybersecurity. The primary objective of this alliance is to fortify cyber resilience within Singapore's financial services sector.
Through this strategic partnership, MAS and Mastercard aim to engage in bilateral information sharing, joint analysis of cyber threats, and competency-building activities. These initiatives intend to elevate cyber situational awareness, generate actionable insights and enhance the capability of financial institutions to combat cyber threats effectively.
Collaborative Initiatives for Cyber Defense
Under the MoU, MAS and Mastercard will collaborate closely on various fronts. These include sharing cyber threat intelligence to bolster understanding and response capabilities within the financial services sector. Additionally, a joint analysis of emerging cyber threats will facilitate the development of effective countermeasures. Furthermore, competency-building activities such as cybersecurity exercises, staff training and study visits will contribute to enhancing the overall cyber resilience of the financial ecosystem in Singapore. Through these collaborative efforts, MAS and Mastercard aim to establish a robust defense against evolving cyber threats.
Commitment to Cybersecurity and Partnership
Vincent Loy, assistant managing director (Technology) at MAS, emphasized the importance of public-private partnerships in fostering cyber resilience within the financial ecosystem. He highlighted the significance of the MoU in advancing cybersecurity capacity building. Ari Sarker, president Asia Pacific, Mastercard, echoed this sentiment and stressed the need for cybersecurity in today's interconnected economy. He expressed confidence in the partnership's ability to strengthen the entire ecosystem's security. Together, MAS and Mastercard are committed to securing the financial landscape in Singapore and beyond, leveraging their collective resources and expertise to address evolving cyber threats effectively.
Price Performance and Zacks Rank
Shares of Mastercard have gained 10.2% in the past year compared with the industry’s 7.4% growth. MA currently carries a Zacks Rank #3 (Hold).
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked stocks from the same space are International Money Express (IMXI - Free Report) , PagSeguro Digital (PAGS - Free Report) and Expensify (EXFY - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
International Money Express beat earnings estimates in two of the last four quarters while missing in the other two. The stock has gained 0.1% year to date. The Zacks Consensus Estimate for IMXI’s 2024 earnings implies a 13.9% increase from the year-ago actuals.
PagSeguro delivered a trailing four-quarter average earnings surprise of 10.1%. The stock has gained 6.7% year to date. The Zacks Consensus Estimate for PAG’s 2024 and 2025 earnings suggests growth of 17.4% and 10.7%, respectively, from a year ago.
The Zacks Consensus Estimate for Expensify’s 2024 and 2025 earnings indicates a gain of 2300% and 45.5% from the prior-year levels, respectively. The stock has lost 37.7% year to date. The consensus estimate for 2024 and 2025 has moved 83.3% and 45.5% north, respectively, in the past 60 days.