Mastercard Extends Open Banking Efforts with Close of Finicity Acquisition
Mastercard (NYSE: MA) has completed its acquisition of Finicity, a key player in North American financial data access. This acquisition is a strategic move to enhance Mastercard's open banking solutions. Craig Vosburg, president of North America for Mastercard, emphasized the importance of integrating both companies' teams and focusing on consumer-centric data practices. Finicity's connections within the banking and lending sectors are expected to enrich Mastercard's offerings through advanced open banking APIs, benefiting consumers and businesses alike.
- Acquisition of Finicity enhances Mastercard's open banking capabilities.
- Increased access to real-time financial data supports consumer-centric practices.
- Strengthens Mastercard's partnerships with banks, merchants, and fintechs.
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PURCHASE, N.Y.--(BUSINESS WIRE)--Mastercard (NYSE: MA) today announced it has completed its acquisition of Finicity, a leading North American provider of real-time access to financial data and insights.
“Today is a great milestone as we continue to build out the solutions that deliver on the potential of open banking,” said Craig Vosburg, president, North America, Mastercard. “We now turn our focus on bringing these two talented teams together. That starts with our shared commitment to consumer-centric data practices to create more value for consumers and businesses from the information in their account and give them more control in how that data is used.”
With a direct connection to the North American banking, lending and wealth management ecosystem, Finicity adds to Mastercard’s commitment to be a one-stop partner for banks, merchants, fintechs and governments. These connections are supported through next generation open banking APIs and consumer approvals.
About Mastercard Incorporated (NYSE: MA), www.mastercard.com
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.
