U.S. Bank (USB) has partnered with Plug and Play to increase its innovation in Cybersecurity efforts.
USB has joined Plug and Play’s Cybersecurity Innovation Platform as it prepares to kick off its first cohort. Through this expanded partnership, US Bank said ti will engage with leading entrepreneurs in the cybersecurity and FinTech sectors to further accelerate its innovation efforts.
It will engage with all 15 startups in the program to evaluate cutting-edge security solutions that it can use both internally and with its partners.
“The Security R&D Team at U.S. Bank looks to source security innovation in variety of ways, internally and externally,” said David Johnson, security innovation lead at U.S. Bank. “Our partnership with Plug and Play’s Cybersecurity Program provides us an opportunity to engage with startups and see how their innovations address current or foreseeable needs. Not only are we looking to address potential use cases within U.S. Bank, but this partnership also enables us to help influence innovation in the broader information security sector by encouraging the participating companies.”
Headquartered in Silicon Valley, Plug and Play built accelerator programs, corporate innovation services, and an in-house VC to make technological advancement ‘progress faster than ever before’.
Its cybersecurity accelerator is a 12-week program designed for early-to-growth stage startups. With a clear focus on business development opportunities, startups accepted into the program will potentially receive funding from Plug and Play Ventures, weekly mentor sessions with industry thought leaders and introductions to investors. Its cybersecurity partners also include Deloitte and RSM, in addition to UBS.
“Threats to corporations are constantly evolving. The attacks against your business today are completely different from the attacks that hit your business even a year ago,” said Nate Hinman, Plug and Play’s Cybersecurity Lead. “We’re launching this program to help our corporate partners mitigate their risk and make the world a safer, more accessible place.”
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