Mastercard has announced the acquisition of Recorded Future, a global threat intelligence company, for $2.65 billion as part of its efforts to enhance cybersecurity services. The purchase is aimed at bolstering fraud protections for customers, with Mastercard introducing a software update in May that integrated artificial intelligence into its fraud-prediction technology. By leveraging this new technology, Mastercard aims to identify patterns in stolen cards more efficiently, enabling quicker reactions from banks.

Collaboration between Recorded Future and Mastercard has already resulted in the development of an AI-supported service that provides faster and more accurate alerts to financial institutions in case of compromised cards. This joint service, launched earlier this year, has significantly increased the rate at which compromised cards are detected compared to the previous year.

Recorded Future boasts a vast clientele of over 1,900 organizations spanning 75 countries, including the governments of 45 countries. The company, previously owned by Insight Partners, brings its expertise in threat intelligence to Mastercard through this acquisition.

The transaction is anticipated to be completed by the first quarter of the next year, further solidifying Mastercard’s commitment to enhancing its cybersecurity capabilities for the benefit of its customers and partner institutions.