Mastercard Expands Advisory with Dedicated Crypto, Open Banking and ESG Practices


The business world is facing an influx of innovations: changing consumer preferences, rapid digital transformation and geopolitical shifts. To help businesses scale and accelerate enterprise-wide growth, Mastercard today announced that it is expanding its preeminent payments-focused advisory service with new practices dedicated to Open Banking, open data, cryptography and digital currencies, and environment, social and governance (ESG).

For more than two decades, consulting has been a key part of Mastercard’s customer engagements, from designing multi-rail payment strategies to advising on data governance opportunities. Today, Mastercard’s data and services include more than 2,000 data scientists, engineers and consultants, serving customers in 70 countries around the world. As part of its growth plans, Data and Services, an enterprise-wide talent incubator, is rapidly expanding its team, including the addition of more than 500 college graduates and young professionals.

“Payments are just the beginning,” said Raj Seshadri, president of Data and Services, Mastercard. “Over the past 20 years, we have worked with our clients in banking, fintech, retail, travel and other industries, helping them understand and meet all the challenges and opportunities presented to them. This evolution of consulting is a recognition of the evolution of the world and the evolution of our business. It’s about helping customers meet today’s challenges and anticipate what’s to come.

With these new practice groups, Mastercard will continue to deliver an integrated approach that leverages world-class thinking, services, tools and assets, such as Cipher trail, finicity and Aia, Cyber ​​Quant and the Priceless Planet Coalition—to make smarter decisions with better results across a client’s business.

Mastercard Consulting Practices

Generating consumer and business value through open banking

Open banking puts businesses and consumers at the center of how and how their financial data is used and enables access to the services they want and need. To help companies maximize open banking opportunities, our consultants use data-driven insights, advisory services and product development, in line with Mastercard’s strategy. Data Responsibility Principles. We recently worked with a large Eastern European banking group seeking to offer new services to its consumers. Our team helped them prioritize and prototype a multi-bank application that allows users to easily manage their accounts from different banks. The application is now online.

Helping Banks Navigate Digital Currency Adoption

Mastercard’s advisory efforts with banks and merchants span a range of digital currency capabilities, from early education, risk assessments and bank-wide crypto and NFT strategy development to crypto cards and to the design of crypto loyalty programs. Mastercard has partnered with digital native companies that offer the best cryptocurrency solutions and has helped fintechs expand into new markets, working through go-to-market planning and marketing strategies. For example, one of the goals is to help central banks explore the design and deployment of a central bank digital currency (CBDC) using Mastercard’s test platform, allowing them to research various scenarios before deployment and draw on deep expertise in payment systems, policy and regulation, and governance.

Putting the goal into practice

Consumers are more socially and environmentally aware of the products and brands they interact with than ever before. Mastercard consultants help clients better understand what this means for their business, then turn that insight into actionable strategies that combine purpose and profit. For example, Mastercard and a major bank in Latin America have joined forces with cardholders to fight climate change. The collaborative approach designed by Mastercard has enabled consumers to have a positive impact on the planet by restoring forests through the Priceless Planet Coalition, while promoting the use of the card.


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