Mastercard Expands Global Partnership with TransferWise

Business Wire | August 21, 2020

Mastercard (MA) and TransferWise, today announced an expanded partnership to enable the issuance of cards in any market around the world where Mastercard is accepted and TransferWise is licensed. Mastercard has built a strong partnership with TransferWise, working with the global technology company since its issuance of its first debit card in Europe in 2018. Since then TransferWise has issued over 1 million Mastercard’s globally. TransferWise currently partners with Mastercard across the EEA, US, Singapore, Australia and New Zealand, with Japan due to launch later this year. This expansion of the relationship will allow a route to market in nearly all countries around the world.

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CORE BANKING

Mascoma Bank Selects Alkami as its Digital Banking Platform Partner

Alkami | April 13, 2022

Alkami Technology, Inc. (Nasdaq: ALKT) ("Alkami"), a leading cloud-based digital banking solutions provider for banks and credit unions in the U.S., today announced that Mascoma Bank ("Mascoma") has selected Alkami's digital banking platform as part of a full technology stack overhaul with core banking technology firm Thought Machine. This will not only drive future growth for Mascoma, but also serve as a model for other community banks to build upon. We are building an innovative ecosystem that will allow us to better serve our existing customer base, attract new customers and grow strategically into the future, Our Chief Technology Officer, Raphael Reznek, challenged us to rethink how we use technology and the importance of building an embedded finance system. As a result, instead of replacing our existing core, we set out to completely revamp our tech stack to incorporate the most advanced systems. We chose to partner with Alkami because they offer the best balance of deep extensibility with robust 'out of the box' capabilities and configurations." Clay Adams, president and chief executive officer of Mascoma Bank. The Alkami platform will be integrated with Thought Machine's core banking platform, Vault, to provide a complete cloud-based banking platform that is capable of being easily configured and scaled. Mascoma will be able to get to market quickly and have the ability to customize based on the bank's unique needs using a modern API architecture and real-time data. Mascoma is a community bank to watch. They are undergoing a true digital transformation, and we are thrilled to be a part of it, Their digital-first mindset is helping them build a foundation that will allow them to innovate and adapt—fueling the future of community banking as a whole." Alkami's chief executive officer, Alex Shootman. Raphael Reznek along with our leadership team has a vision to build a digital platform that will put us in control of our destiny and serve as a roadmap for other community banks to follow. The new tech stack more than answers that call, I am particularly excited for Alkami's data insights, which will allow us to provide tailored experiences to further empower our customers on their financial journeys." Samantha Pause, chief marketing and product officer at Mascoma. About Mascoma Bank Headquartered in Lebanon, New Hampshire, Mascoma Bank is a $2.6 billion mutual bank and Certified B-Corporation® with 28 branches and 2 loan offices throughout Northern New England. Mascoma Bank was founded in 1899 by community members seeking ways to establish a healthy local economy. For over 122 years, Mascoma Bank's foundation of mutuality has continued to be a force for positive change supporting communities to reach thriving sustainability. Mascoma Bank has made a strong commitment of utilizing technology to help support its mission and values of putting the customer at the center of its work. About Alkami Alkami Technology, Inc. is a leading cloud-based digital banking solutions provider for financial institutions in the United States that enables clients to grow confidently, adapt quickly and build thriving digital communities. Alkami helps clients transform through retail and business banking, digital account opening, loan origination, and multi-payment fraud prevention solutions.

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FUNDING

Mastercard to Add to Services Momentum with Acquisition of Dynamic Yield, McDonald’s Cutting-Edge Personalization Platform

Mastercard | December 23, 2021

Mastercard and McDonald’s today announced an agreement for Mastercard to acquire McDonald’s state-of-the-art personalization platform and decision engine company, Dynamic Yield. Dynamic Yield’s technology is a natural addition to Mastercard’s existing suite of services that help brands deliver more effective and trusted customer experiences across channels. Sitting across online and offline channels to personalize a consumer’s experience with a brand, Dynamic Yield delivers individualized product recommendations, offers and content based on a range of factors, including past purchases, page views, time of day, current store traffic and trending products. The software-as-a-service (SaaS) platform uses advanced AI and other technologies to support 400+ brands across the retail, financial services, travel and restaurant industries, among others. The notion of going into a store or opening a webpage to find an experience perfectly tailored to you is no longer farfetched. It’s a reality that more brands are deploying and more consumers expect. With Dynamic Yield’s expertise and our scale and relationships, we’ll be able to bring the connections between the end consumer and our customers to new heights.” Raj Seshadri, President of Data & Services, Mastercard. Mastercard plays a central role in enabling trusted digital commerce experiences, connecting billions of consumers with millions of merchants and banks around the world safely and securely. With Dynamic Yield’s technology, Mastercard will be able to help its customers and partners meet consumers’ growing demand for a more personalized experience, no matter where they shop or do business. The creation of a unified consumer engagement and loyalty hub will further extend the value of Mastercard’s network to deliver digital services for payments and beyond. This builds on the company’s long track record of providing data-driven loyalty, analytics and marketing services, rooted in focused data responsibility principles. This includes the SessionM merchant loyalty platform and Test & Learn (APT) experimentation software. McDonald’s purchased Dynamic Yield in 2019, becoming one of the first brands to integrate decision technology into its restaurants. Under McDonald’s ownership, Dynamic Yield doubled its revenue and expanded its customer base across verticals. To date, Dynamic Yield’s technology has been deployed to McDonald’s drive-thrus and ordering kiosks in several markets around the world. The deployment and enhancement of this technology has been an important component of McDonald’s Accelerating the Arches growth strategy under which the brand has also prioritized improving ordering experiences, introduced a global loyalty program and expanded its delivery footprint. The acquisition by Mastercard will strengthen unique, existing synergies across McDonald’s digital engagement experiences currently powered by SessionM and Test & Learn. In addition, McDonald’s plans to further scale and integrate Dynamic Yield’s capabilities globally and across ordering channels. “We’re delighted to continue working with McDonald’s, a longstanding client and proven innovator in this space,” Seshadri continued. In addition to McDonald’s, a number of merchant and financial services brands already use both Dynamic Yield and existing Mastercard services. Synchrony has worked with both companies on digital customer engagement. “Synchrony works hard every day to deliver simple, tailored and relevant interactions to enhance the consumer experience,” said Jeff Brousseau, Senior Vice President, Performance Marketing, Synchrony. “With Dynamic Yield, we’ve been able to deliver contextual, personalized experiences across the consumer journey. Combining this with the power of Mastercard’s other digital services unlocks additional capabilities to further enrich consumer engagement.” The transaction is anticipated to close in the first half of 2022, with the strength and talent of the extended Dynamic Yield team ensuring consistency for its customers throughout the process. Upon close, current chief technology officer Ori Bauer will take the helm as CEO. Liad Agmon, current CEO, will stay on in an advisory capacity. The transaction is subject to customary closing conditions. Terms of the agreement were not disclosed. About Mastercard Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart, and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments, and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all. About McDonald’s McDonald’s is the world’s leading global foodservice retailer with nearly 40,000 locations in over 100 countries. 93% of McDonald’s restaurants worldwide are owned and operated by independent local business owners. About Dynamic Yield Dynamic Yield helps enterprise brands quickly deliver and test personalized, optimized, and synchronized digital customer interactions. Marketing, Product, Development, and eCommerce teams from more than 400 global brands are using Dynamic Yield’s Experience Optimization platform as the technology layer that works alongside existing CMS, Commerce, or ESP solutions to iterate faster and algorithmically match content, products, and offers to each individual for the acceleration of long-term business value.

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PAYMENTS

Payveris Introduces Loan Payments® for Financial Institutions to Offer Customers Integrated Real-Time Payment Methods & Channels

Payveris | June 18, 2022

Modern money movement leader Payveris, a division of Paymentus, today launched Loan Payments®, a cutting-edge loan and debt repayment service with the widest array of real-time payment methods and channels available on the market. Loan Payments® is designed to help financial institutions meet rising consumer demand for payment methods and channels that are speedy, convenient and secure — all while reducing operational overhead, fostering better customer engagement and loyalty. An Aite-Novarica Group survey from 2021 found that 89% of consumers want more real-time payment options from their digital banking experience. As consumers enjoy more payment choices, speed and convenience in just about every other aspect of their financial lives, they expect the same from their loan payment servicers — and aren't satisfied by the status quo from financial institutions. In fact, a recent J.D Power study found that non-bank loan servicers saw a 17% increase in customer satisfaction, while banks only saw a 4% increase. When financial institutions make it complicated to accept and receive payments through coupon books or legacy loan payment systems, borrowers are less likely to consider them for their next loan, Providing choice, speed and autonomy is no longer a bonus, but a baseline expectation for consumers. Financial institutions must seriously rethink their loan payment experience and meet customers where they are, and Loan Payments® can help them get there. Whether that's an auto loan, a personal loan, or a mortgage, the days of consumers using a coupon book have passed." Payveris Chief Innovation Officer Marcell King. With Loan Payments®, financial institutions can deliver a true omni-channel experience that matches what consumers have come to expect from shopping or paying bills. Payment methods supported by Loan Payments® include cash, debit card and e-check/ACH. Loan Payments® also empowers consumers to choose their preferred payment channel, whether it's online, mobile, text, PayPal app, Amazon Alexa, Walmart, or directly at their bank or credit union. In addition to more convenience and flexibility, Loan Payments® gives financial institutions' customers more control over how they automate and schedule payments, and the ability to spread their payments across multiple methods at once. WSECU, a Payveris customer since 2020, is one of the first financial institutions with plans to roll out Loan Payments®. "Our first priority is to improve the loan payment experience for members, making it easier and providing them more options, Payveris is helping us do that, and that alone is a big win. But there is also more we gain, including the operational efficiencies that come from no longer managing disparate processes. Now, everything is centralized into one payment processing system, regardless of which option best meets the needs of an individual member." Melissa Wolff, Vice President, Operations Support and Payment Services at WSECU. Financial institutions also stand to gain another avenue in which they can drive customer engagement and loyalty. Loan Payments® was first developed by Payveris' parent company Paymentus, recognized by Aite-Novarica as the "Best in Class" industry leader for Biller Direct EPPP solutions. The solution is powered by the Instant Payment Network®, the only integrated ecosystem of real-time digital bill presentment, payment, and money movement capabilities in the market. The Instant Payment Network® is currently trusted by numerous Fortune 500 companies, with more than 10 million consumers relying on it to make payments. About Payveris Payveris, a division of Paymentus, is the creator of the MoveMoney℠ Platform, an Open API, cloud-based platform that enables more than 265+ financial institutions to control, simplify, and extend more engaging intelligent digital payment and money movement capabilities to their users through any application or device while significantly reducing operating costs and future-proofing their IT investment.

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INVESTMENT MANAGEMENT

Mastercard Unveils Next-Generation Virtual Card Solution for Instant B2B Payments

Mastercard | January 24, 2022

Mastercard today announced the launch of Mastercard TrackTM Instant Pay, a next-generation virtual card solution that uses machine learning and straight-through processing to enable instant payment of supplier invoices. Integrated with Mastercard Track Business Payment Service, Mastercard’s open-loop B2B network, the new, first-of-its-kind virtual card solution delivers greater choice, efficiency and automation for buyers and suppliers to help streamline and speed business payments. Slow and inefficient payment processes continue to create challenges for businesses. Lengthy payment terms and late invoice payments impact cash flow for suppliers, while manual invoice approval and check processing is costly and time consuming for buyers. Other payment methods, like ACH, require buyers to safeguard sensitive bank account information, adding another layer of complexity. Research shows a growing demand from businesses to automate supplier payments with virtual cards, but existing solutions aren’t meeting these needs, with 90% of virtual card transactions still being processed manually1. Mastercard Track Instant Pay is the first virtual card solution that can safely and intelligently authorize an immediate payment to a supplier once they submit an invoice. The solution uses sophisticated machine learning to analyze invoices and identify those likely to be rejected, enabling the rest to be authorized for payment on the same day they’re received. Using straight-through processing, digital payments are sent directly and securely to a supplier’s bank account via a Mastercard virtual card, with no manual intervention required. Delayed payments create significant challenges for businesses financially and operationally, especially in today’s environment. New Payment Flows, North America at Mastercard. “Track Instant Pay helps solve these pain points by enabling buyers and suppliers to automate their manual payment processes, unlocking valuable time, working capital and choice. This innovative new solution is the latest step in our ongoing commitment to support multiple payment rails and mission to modernize B2B payments.” Ron Shultz, executive vice president Mastercard Track Instant Pay combines machine learning capabilities from Previse, an artificial intelligence and data science company, with Mastercard’s core commercial solutions and global payment network to transform how businesses send and receive payments. The solution is part of Mastercard’s comprehensive suite of B2B products and services designed to reduce complexity and risk, cut costs, and automate processes for businesses around the world. About Mastercard Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart, and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments, and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.

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Spotlight

A capital market is a market that channels funds from net savers (such as retail investors and institutional investors) to net spenders like businesses, governments and individuals. In an open economy, nonresidents can also participate in this market as net savers or spenders.

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