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 initial partners to join the Mastercard Engage program for open banking include Dwolla, FinTech Automation, i2c, Link Financial Technology, LoanPro, Nova Credit, Provenir, Synctera, Tern and Usio, Inc. Through this new program, these providers will partner with Mastercard open banking to offer services to their clients. Other benefits are fewer contracts, faster access to customers, data security and access, and overall flexibility to better leverage Mastercard’s robust open banking services.