- FCA confirms greater access for SMEs to the Financial Ombudsman Service
- Nomura settles case of RMBS securitised by US Subsidiaries with US Department of Justice
- Number of first-time buyers reaches its highest level since June 2017
- Thriving SMEs to bolster growth of alternative finance
- UK Finance supports FCA plan to extend access to Ombudsman Service to smaller firms
- Monese launches business account in the UK, with Europe to follow soon
- ‘Rom-cons’ costing love-struck Brits thousands, says Barclays expired
- High-cost lenders should reassess their operational procedures, says Huntswood expired
- Mastercard is the first network to make signatures optional expired
- Federal Reserve study finds US payments fraud small but growing expired
- CEOs of big banks pull out of Saudi conference expired
- Study shows regional disparity in terms of where Angel investors are based and where they invest expired
15th May 2018
Mastercard collaborates with Microsoft for more connected cities
Mastercard has reaffirmed its commitment for more connected and inclusive cities, highlighting a new collaboration with Microsoft. The two global leaders for urban development will bring together their respective payment, data analytics and cloud technologies to create a global exchange, allowing cities to use economic insights in more integrated and efficient ways.
The insights derived from this new collaboration will help city agencies understand better the root causes of issues and more effectively tackle long-standing urban challenges such as traffic congestion or economic development. In addition, Microsoft intends to join City Possible, a global initiative pioneered by Mastercard to co-create and scale urban solutions through a united private sector.
“Today’s urban challenges are best solved through collaboration”, said Miguel Gamiño Jr., executive vice president for global cities at Mastercard. “From access to basic services such as transport and affordable housing to engaging arts and culture – locals and tourists expect that cities make good use of resources that already exist and harness emerging technologies. That’s why today we invite public and private sector leaders to join us in making tech truly work for people.”
Trudy Norris-Grey, managing director, Microsoft CityNext said: “Microsoft CityNext is helping cities implement solutions that address their most pressing needs and harness the next generation of innovation by leveraging cloud computing, AI, and other technologies. Our collaboration with Mastercard is an important step toward our goal of empowering cities to be more sustainable, prosperous, and inclusive.”
The two companies are currently engaged through Chicago-based City Tech in a two-city pilot to model the impact of planned and unplanned events and inform data driven policy interventions. Typical use cases include major cultural events and infrastructure investments as well as adverse weather and traffic incidents.