Account Owner Verification, a new solution that enables a frictionless experience and aims to instantly verify people are who they say they are, is the latest open banking innovation Mastercard is announcing today in Europe.
Mastercard is forming a new partnership with open banking credit decisioning specialist Algoan in France to further its ambitions in providing intelligent open banking data services. This partnership builds on Mastercard’s strengths in enabling smarter lending decisions through open banking in the U.S. and accelerates inclusion through improvements in credit decisioning.
These new developments support Mastercard’s dedication to embracing new networks and growing its open banking capabilities, which enable people to securely share their financial information to access cutting-edge payment experiences that increase choice, deliver secure and frictionless lending, and bring about a variety of other benefits.
