Mastercard has selected Fuse, the AI-powered transaction analytics firm, for its global startup engagement programme Mastercard Start Path Open Banking.

Mastercard says the programme helps Open Banking startups on their path to scale, uncover unique opportunities to innovate and power experiences that enable consumer choice.

Fuse takes insights from Open Banking and transaction data to provide lenders with analytics allowing them to provide increased credit options to borrowers and make improved decisions around factors such as affordability.

Through the programme, Fuse will have the opportunity to access mentorship through Mastercard’s global network to accelerate and scale its solutions to meet long-term growth plans.

“Joining Mastercard’s Start Path programme is a vital milestone in our journey to transform finance and offer financial institutions the necessary tools to improve support for consumers,” said Fuse chief executive and co-founder Sho Sugihara. “Unlocking access to the world-class expertise, insight and tools available through Mastercard’s programme will allow us to scale at pace, expanding our reach and providing more banks and other financial institutions with an AI approach which enables a fairer financial system for millions.”

Mastercard recently launched a card recycling pilot with HSBC as an initial partner.

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