Five open banking startups from around the world join new
Start Path Open Banking program to access resources, expertise and tools to
grow
During the three-month program, startups will have an
opportunity to leverage Mastercard’s open banking expertise and market insights
and learn more about the company’s open banking platforms through wholly-owned
subsidiaries Finicity and Aiia. As an early advocate of open banking across the
globe, Mastercard has bolstered its open banking capabilities by blending its
proprietary technology and expertise with the complementary services of
Finicity and Aiia. Mastercard’s market-leading technology platforms, data
connectivity and infrastructure, combined with strong data privacy and security
principles, provide a global infrastructure that is catalyzing innovation and
creating solutions that meet customers where they are.
“Open banking is a natural progression of how Mastercard has
always embraced innovation and consumer trust with equal measure, and how we’ve
remained a trusted partner for our customers,” said Blake Rosenthal, executive
vice president, Fintech & Segment Solutions at Mastercard. “We are thrilled
to launch the Start Path Open Banking program and welcome five high-growth
startups from around the world to collaborate with us and accelerate open
banking innovation.”
From making financial services accessible for all, to
providing the tools businesses need to build next-generation financial
products, the following fast-growing open banking companies have been selected
to join the Start Path Open Banking program:
- Dapi (United Arab Emirates) is an open banking payment API that provides an experience for accepting account-to-account payments and tools for enterprise payments operations.
- Finantier (Indonesia) is an open finance platform powering the technical infrastructure for financial inclusion and enabling the next generation of digital and financial services across Southeast Asia.
- mmob (U.K.) seamlessly integrates third-party products into the financial ecosystem via its proprietary tool without coding.
- Mono (Nigeria) enables businesses in Africa to access financial data and process direct bank payments.
- Paywallet (U.S.) helps lenders and other financing providers improve payment certainty by enabling repayments directly from payroll deductions and powering underwriting decisions based on accurate identity, employment and payroll data.
These five companies will join the network of more than 300
startups that have participated in the award-winning Start Path startup
engagement program. They will have an opportunity to engage with Mastercard’s
ecosystem of banks, merchants, partners and digital players across the globe to
deliver and scale open banking solutions. Today, Start Path alumni are entering
the public markets, reaching unicorn status and pursuing extended commercial
engagements with Mastercard and its customers.
Start Path is a key program within the Mastercard Developers
portfolio, a single point of entry for fintech companies in open banking and
beyond to access the APIs, services and tools they need to iterate at each
stage of their journey, transform bold ideas and achieve scale at a fast pace
to bring more people into the digital economy.
Interested startups can apply for future Start Path Open Banking classes here.
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