U.S. Bank Partners with Plug and Play to Increase Innovation in Cybersecurity

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Apr 06, 2018, 09:00 ET

SUNNYVALE, Calif., April 6, 2018 /PRNewswire/ -- Plug and Play announced today that U.S. Bank (USB) has joined Plug and Play's Cybersecurity Innovation Platform as it prepares to kick off its first cohort. Through this expanded partnership, U.S. Bank will engage with leading entrepreneurs in the Cybersecurity and Fintech sectors to further accelerate its innovation efforts.

"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."

U.S. Bank 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.

"We are honored to have the opportunity to engage with U.S. Bank and its cybersecurity team in facilitating startup solutions enabling enterprise grade security," said Scott Robinson, VP and Founder of the Cybersecurity Program at Plug and Play.

This partnership comes at a time where information security is top of mind for corporations around the world. In 2017, some of the largest and most advanced cyber attacks in history occurred. The WannaCry ransomware attacks and breaches to public organizations such as the NSA and Equifax were especially devastating.

"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."

For more information, visit www.plugandplaytechcenter.com/security

About U.S. Bank
U.S. Bancorp, with 74,000 employees and $462 billion in assets as of Dec. 30, 2017, is the parent company of U.S. Bank, the fifth-largest bank in the United States. The Minneapolis-based bank blends its branch and ATM network with mobile and online tools that allow customers to bank how, when and where they prefer. U.S. Bank is committed to serving its millions of retail, small business, wealth management, payment, wholesale and securities services customers across the country and around the world as a trusted financial partner, a commitment recognized by the Ethisphere Institute naming the bank a 2018 World's Most Ethical Company. Visit U.S. Bank online or follow on social media to stay up to date with company news.

About Plug and Play
Plug and Play is a global innovation platform. Headquartered in Silicon Valley, we have built accelerator programs, corporate innovation services, and an in-house VC to make technological advancement progress faster than ever before. Since inception in 2006, our programs have expanded worldwide to include a presence in 21 locations globally giving startups the necessary resources to succeed in Silicon Valley and beyond. With over 6,000 startups and 220 official corporate partners, we have created the ultimate startup ecosystem in many industries. We provide active investments with 200 leading Silicon Valley VCs, and host more than 700 networking events per year. Companies in our community have raised over $7 billion in funding, with successful portfolio exits including Danger, Dropbox, LendingClub, PayPal, SoundHound, and Zoosk. For more information, visit www.plugandplaytechcenter.com.

Contact:
Nate Hinman
[email protected]

SOURCE Plug and Play