Mastercard today announced an expansion of its Engage partner network to include its open banking services, offering customers easy access to several technology partners that can quickly build and deploy open banking solutions for payments and lending decisioning at scale. According to Mastercard’s 2022 New Payment Index, 83% of consumers globally use digital tools for at least one financial task, and more than half use technology for five or more tasks. With the rapid adoption of open banking (i.e., consumer-permissioned data access) and digital tools across financial services experiences, Mastercard will work with technology partners to spur innovation through access to its open banking platform, from lending to payments to financial management.
“The partners joining Mastercard Engage are leading the deployment of open banking solutions that are designed with security at the center and will help to meet consumers’ financial needs and enable choice,” said Jess Turner, executive vice president, Global Open Banking and API at Mastercard. “Together we can enable innovation that will increase financial inclusion and expand access to digital services across the globe.”
Find out more about the initial partners and open banking solutions in the Engage program here.