Indosat Ooredoo Hutchison and Mastercard Announce Partnership for Cybersecurity Center of Excellence

With the aim to further protect and bolster trust in Indonesia’s digital economy

Indosat Ooredoo Hutchison (Indosat or IOH) and Mastercard today signed a Memorandum of Understanding (MoU) to collaborate towards safeguarding Indonesia's digital economy through the launch of the Indosat-Mastercard Cybersecurity Center of Excellence (CoE). The announcement was made at an event attended by Budi Arie Setiadi, Minister of Communications and Informatics, Republic of Indonesia, and Michael Miebach, CEO, Mastercard, among other senior executives from Indosat and Mastercard.

Cybersecurity is a rising challenge globally, with the cost of cybercrime projected to rise to US $14 trillion (approx.) by 2028^[1] from US $8 trillion in 2023. A recent global survey also revealed that 72 percent of cyberattacks in Asia stem from the shortage of skilled specialists in the field^[2]. The Indosat-Mastercard Cybersecurity Center of Excellence aims to address these gaps by focusing on three key pillars:

• Education to boost cybersecurity talent pipeline via access to cybersecurity education and training.
• Innovation via research in key areas of cybersecurity and digital trust, leveraging new technologies.
• Industry collaboration around scam detection and mitigation.

Vikram Sinha, President Director and Chief Executive Officer of Indosat Ooredoo Hutchison, expressed, "We're humbled to be taking pivotal role in navigating the cybersecurity challenge in Asia Pacific, particularly Indonesia. We believe what we have witnessed today will propel Indonesia's cyber talent forward. The commitment that has been made is driving us closer to achieving Indosat's larger purpose of empowering every Indonesian."

Safdar Khan, Division President, Southeast Asia, Mastercard said, "Mastercard is committed to bolstering trust in the digital economy, which extends beyond technological innovations to include capacity building and industry collaboration. Partnering with Indosat, we will establish Indonesia's first Center of Excellence in Cybersecurity & Digital Trust. This collaboration combines the best of innovation and collaboration, of local knowledge and global best practices, to cultivate the skills and expertise necessary to advance Indonesia's digital economy and prepare for future threats."

The Indosat-Mastercard Cybersecurity Center of Excellence marks a significant milestone in the two organizations' journey towards safeguarding Indonesia's digital future. In addition, with its focus on capacity and skills development, the partnership aligns closely with the Government's vision of "Golden Indonesia 2045", which seeks to position Indonesia as the fourth largest economy in the world by 2045 through upskilling and human capital development as one of the key pillars. By leveraging the collective global and local expertise and resources, the Indosat-Mastercard Cybersecurity CoE is poised to play a central role in enhancing Indonesia's cybersecurity ecosystem, elevating the nation's position as a digital frontrunner on the global stage.

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[1] Chart: Cybercrime Expected To Skyrocket in Coming Years | Statista

[2] Indonesia in need of better cybersecurity skills