AmCham Digitalization Forum: Transition and Digital Trust

“We are not a payments company, we are a technology company.” So began Mastercard’s Country Director Inge M. Kjønnøy as member representatives gathered virtually for AmCham’s latest Digitalization Forum. Founded by a group of banks over 50 years ago, Mastercard’s technology and expertise now enable transactions in more than 210 countries and 150 currencies – connecting 2,7 billion customers worldwide. With Mastercard’s recent acquisition of Nets and others, the company’s Oslo and Nordic offices have expanded significantly.

Kjønnøy went on to provide insights on the company’s transition within processing, open banking, data analytics, cyber and intelligence, digital rewards, and its vast commitment to sustainability – including a 2021 $600B bond framework pledge. Well recognized for payment reliability and trust, Mastercard’s sonic brand identity further piqued cross-industry participants’ imaginations. An engaging discussion ensued, led by Next Step CEO Jennifer Vessels and AmCham’s Jason Turflinger.

Presenters

Inge M. Kjønnøy – Country Director

George Turk – Digital Trust Director

Jan Henrik Schou Straumsheim – Head of Cyber Threat Operations

We Can’t Predict the Future, But We Can Plan for It

PwC’s George Turk, Digital Trust Director, and Jan Henrik Schou Straumsheim, Head of Cyber Threat Operations, then jointly took the lead, outlining key findings from the company’s 2021 global Digital Trust Insights survey. Less of a presentation than a dynamic Forum discussion, all agreed that cyber security is a top enterprise risk for their respective organizations – ranking above pandemic and business regulation concerns for most CEO’s.

 

Independent assessment and proactive security testing are vital for building resilience strategies, according to Turk and Straumsheim. “Cyber threats have evolved from being a nuisance to being fundamentally catastrophic” across multiple industries today. Empowering Information Security Officers, backed by better risk management investment by informed company leadership, helps level the playing field with attackers. Employee training – a fundamental cyber security weakness for many companies – was a recurring discussion theme. With tech security talent in high demand across Norway and the US, long-term hiring perspectives are also imperative.

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Source: PwC

AmCham Digitalization Forum

AmCham’s long running Digitalization Forum was initiated to foster leaders’ digital transformation confidence and inspire cross-industry collaboration. If you are interested in attending a future Digitalization Forum, please email amcham@amcham.no.

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