Mastercard hosted the first European edition of its multi-sector Cyber Defense Exercise (CDX) at its European Cyber Resilience Centre in Waterloo, Belgium. The hands-on event brought together banks, telecoms, and technology companies to train for a complex cyberattack.

Participants included Deutsche Bank, ING, Santander, BT Group, and Proximus. They were split into red teams (attackers) and blue teams (defenders), facing realistic scenarios such as supply-chain breaches, distributed denial-of-service attacks, and credential theft. Executives and technical teams worked together on response, communication, and governance.

The idea was simple but powerful: simulate a crisis, coordinate under pressure, and see where the weak points are. The exercise showed how cooperation between industries can improve resilience across Europe.

Cyber threats are rising, and small businesses are among the most vulnerable. Mastercard research shows that one in four European small business owners has been targeted by scammers, and many fear closure after an attack. At the same time, customers are growing more concerned about cyber risks, expecting companies to protect their data as a basic requirement.

The CDX approach brings together private and public players, including technology sponsors such as Dell, Intel, and Fortinet, to create repeatable collaboration models. As Mastercard’s Chief Security Officer Michael Lashlee said, cyber threats don’t respect borders or sectors, so the response shouldn’t either.

For fintech founders, this is a reminder that cybersecurity can’t be treated as a background issue. It’s part of your brand, your operations, and your credibility with investors and clients. Practicing readiness early helps prevent panic later.

Key takeaways for fintech startups

• Run your own drills. Mastercard’s CDX involved coordinated simulation between banks and telecoms. Even a small fintech team can run a tabletop exercise to test how they’d respond to an incident.
  
  
• Test more than tech. The CDX involved executives managing legal, PR, and customer communications. A real cyber crisis affects every part of the business.
  
  
• Build connections. Sharing information with peers, regulators, or industry groups strengthens defense for everyone.
  
  
• Train for collaboration. The event included exercises that tested team coordination under stress. Practicing communication can be as valuable as patching software.
  
  
• Make trust measurable. Customers consistently trust financial institutions more than governments to protect their data. Demonstrating resilience can strengthen that trust and attract users.
  
  
• Keep learning. Threats evolve fast. Make cybersecurity an ongoing topic in leadership meetings, not an annual checkbox.

Cyber resilience is now a shared responsibility. The fintechs that treat it as part of their growth strategy will be better prepared when—not if—a real attack comes.

If you’re building a fintech startup and want to strengthen your strategy, structure, or resilience, Your Fintech Story can help. Let’s build a growth path that’s secure, scalable, and ready for what’s next.