Mastercard expands consulting with practices dedicated to crypto, open banking and ESG

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Mastercard expands consulting with practices dedicated to crypto, open banking and ESG. Source: Mastercard

Mastercard has announced the expansion of its consulting service with new practices dedicated to Open Banking, Open Data, Crypto & Digital Currencies, and Environment, Social & Governance (ESG).

Mastercard’s Data & Services includes over 2,000 data scientists, engineers and consultants, serving customers in 70 countries worldwide. As part of growth plans, Data & Services is expanding its team at pace, including the addition of more than 500 college graduates and young professionals.

Payments are just the beginning. Over the past 20 years, we’ve worked with our customers across banking, fintech, retail, travel and other sectors, helping them understand and navigate every challenge and opportunity thrown their way. This evolution of consulting is in recognition of the changing world and of our changing business. It’s about helping customers navigate today’s challenges and anticipating what’s next
Raj Seshadri, president of Data & Services, Mastercard

The company’s consulting efforts with banks and merchants cover a range of digital currency capabilities, from early-stage education, risk assessments and bank-wide crypto and NFT strategy development to crypto cards and the design of crypto loyalty programs.

According to the press release, Mastercard has curated partnerships with leading crypto-focused firms, and has helped fintechs expand into new markets, working through go-to-market planning and commercialization strategies.

Along with that, consumers are more socially and environmentally conscious of the products and brands they interact with than ever before. Mastercard’s consultants are helping clients better understand what that means for their businesses, and then transform these insights into actionable strategies that bridge purpose and profit.

Finally, open banking puts businesses and consumers at the center of where and how their financial data is used and furthers access to services they want and need. To help businesses maximize open banking opportunities, consultants use data-driven insights, advisory and product development services, in alignment with Mastercard’s Data Responsibility Principles.

We’ve reported that Mastercard launched virtual card solution for instant B2B payments.

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