Cybersecurity Emerges as Key Focus Point from 2018 P20 Conference in Atlanta
As the world’s leaders in payments and financial technology came together for the 2018 P20 Conference in Atlanta, one point became clear from presentations and working groups. Cybersecurity, one of the four pillars of the P20’s mission, is an area where the organization has a chance to make a substantial and positive difference.
The P20 features a growing list of experts and leaders in the realm of cybersecurity, including Micah Zenko of the McChrystal Group, and Barry McCarthy, recently named CEO of Deluxe Corporation and previously the Executive Vice President of Network and Security Solutions at First Data.
“If you think you just need to set up networks, have software, have payment devices that just work, that’s insufficient,” said Zenko, author of Red Team: How To Succeed by Thinking Like the Enemy.
“You have to think as deviously as the most probable threat actors you face,” said Zenko. “You have to model attacks against yourself, to harm yourself, and be better prepared.”
Zenko was part of a collaboration on behalf of P20, with IBM, to stage a industry-wide “War Game” scenario at the IBM X-Force Command Cyber Range in Cambridge, Mass. In that exercise, representatives from payments and financial tech companies collaborated in trying to respond to a massive cyber-attack with wide-ranging implications.
The exercise is part of the P20’s ongoing efforts to develop an industry-wide plan for cyber-attacks, and to minimize long-term damage.
“What makes the P20 unique, is that it brings senior leaders together talk about the most critical issues of the day, cybersecurity chief among them,” said McCarthy. “The fact that a payment industry comes together to talk about it, and work at it at a strategic level through the P20, I think is an incredibly important opportunity.”
The P20 Cyber Working Group will continue periodic exercises leading up to the next P20 Conference in London, in October of 2019.