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Mastercard to realign organisational structure with three new divisions

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Global payments giant Mastercard has unveiled plans to realign its organisational structure, introducing three new divisions and their respective leaders.

The company will reorganise its teams into three interdependent units: Core Payments, Commercial and New Payment Flows, and Services.

CEO Michael Miebach says the move will help the company to “diversify our revenue streams and differentiate our products and solutions”.

The Core Payments unit, described by Mastercard as the “foundation of the company”, is to be led by the company’s chief digital officer Jorn Lambert, who moves to the position of chief product officer (CPO). The division will encompass core payments, associated products and platforms, and the enterprise’s full suite of real-time payments services.

Former BlackRock exec Raj Seshadri will head up Mastercard’s Commercial and New Payment Flows unit and has been promoted to the role of chief commercial payments officer. This department will prioritise the company’s solutions for remittances and disbursements, B2B accounts payables and receivables, commercial cards, and non-carded bill payments. Additionally, it will also encompass Mastercard’s offerings tailored to the healthcare sector.

Mastercard’s Services unit will be headed by Craig Vosburg as chief services officer. Vosburg has held the role of CPO at the company for the last three years. This division will combine Mastercard’s existing Cyber and Intelligence, Data and Services, and Open Banking teams, and will be tasked with overseeing fraud management, risk mitigation, and cybersecurity.

Furthermore, the company has established a new Data and AI team, which will also be overseen by Vosburg and led by Greg Ulrich as chief AI and data officer. The team will concentrate on leveraging AI and data for both internal and external applications, ultimately aiming to commercialise the tech.

In addition to the firm’s restructuring plans, which are set to come into play on 1 May, Mastercard has also revealed that Ajay Bhalla, its president of cyber and intelligence, will retire after more than 30 years with the company.

Source: fintechfutures.com

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AXA named as an Official Partner of UEFA Women’s EURO 2025

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AXA has proudly announced its support for the UEFA Women’s EURO 2025 as an Official Partner, furthering its sponsorship programme initiated in 2020. The prestigious event will take place in Switzerland from July 2 to 27, 2025.

Commitment to Women’s Football

This partnership underscores AXA’s dedication to promoting women’s football, building on its long-term support for the sport. Since 2020, AXA has been the main sponsor of the AXA Women’s Super League and the AXA Women’s Cup in Switzerland. By investing in women’s football, AXA aims to bolster women’s sports and promote its brand ethos, “Know You Can,” encouraging self-belief among its customers.

Statements from AXA Leaders

Fabrizio Petrillo, CEO of AXA Switzerland, expressed his enthusiasm, saying, “I’m so excited to support UEFA Women’s EURO 2025 together with other European AXA companies as a main sponsor. We are sending a strong signal and making a contribution to ensure that the players and fans can experience a great event and further strengthen women’s football. I’m looking forward to a fantastic summer of football in 2025!”

Volunteering Opportunities

The partnership includes more than just financial support. AXA employees will have the opportunity to volunteer during the tournament as part of the UEFA Women’s EURO 2025 Volunteer Programme, playing a crucial role in the event’s success.

Guy-Laurent Epstein, UEFA Marketing Director, commented, “AXA is a dedicated supporter of women’s football in Switzerland, so we are thrilled to partner with them for what will be an unforgettable UEFA Women’s EURO 2025. We look forward to working together to make this the can’t-miss event of next summer while also strengthening women’s football in the host country and throughout Europe.”

Enhancing Visibility for Female Players

Andreea Prange, Head of Customer Experience & Strategy at AXA Switzerland, added, “Promoting women’s football is a topic I hold dear to my heart. That’s why I’m delighted that AXA, as a partner of the UEFA Women’s EURO 2025, is also committed to increasing the visibility of female players at the international level.”

Tournament Details

Doris Keller, Tournament Director of UEFA Women’s EURO 2025, stated, “AXA, a long-time supporter and partner of women’s football in Switzerland and globally, is a perfect fit to become a global partner of UEFA Women’s EURO 2025. We look forward to collaborating with AXA on the UEFA Women’s EURO 2025 Volunteer Programme, as the 2,500 volunteers will play a highly essential and valuable role throughout the tournament welcoming everyone to the host country.”

The UEFA Women’s EURO 2025 will feature 16 teams competing in eight Swiss cities, attracting an estimated 500 million viewers worldwide and offering over 700,000 tickets for fans to attend the matches live.

Partnership Duration

The partnership between AXA and UEFA will continue until the end of August 2025. The financial terms of the sponsorship remain confidential.

Source: fintech.global

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Lucinity Wins the Microsoft Partner Awards for 2024 for Partner of the Year – Iceland and Sustainability and Social Impact

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REYKJAVÍK, Iceland, May 28, 2024 /PRNewswire/ — Lucinity, a leading AI company for financial crime prevention, won two awards at the Microsoft Partner Awards for 2024, including Partner of the Year – Iceland and Sustainability and Social Impact, highlighting Lucinity’s innovations and contribution to positive societal change. 

“Congratulations to Lucinity for being recognized as the Partner of the Year – Iceland 2024! Lucinity is leading digital transformation and delivering innovative products in their domain,” says Microsoft’s leadership.

For the past year, they have played a key role with their offerings, skilled resources, and their ability to drive change and innovative solutions both locally in Iceland and across the globe. Lucinity has had significant social impact and growth while supporting our joint customers in their AI-transformation journeys.”

In June 2023, Lucinity launched the world’s first copilot for FinCrime prevention powered by Microsoft Azure OpenAI called Luci. Luci stands out in the financial services industry with specialized skills for FinCrime prevention such as adverse media checks, case analysis, and SAR writing. 

Built on the robust and scalable Microsoft Azure platform, Lucinity offers customers a trusted SaaS product. Additionally, Lucinity’s presence on the Microsoft Azure Marketplace allows companies to leverage their Microsoft Azure credits to access the platform. 

The seamless integration with Microsoft’s Azure stack has enabled Lucinity to implement advanced AI capabilities, fostering rapid innovation and enabling banks and fintech companies to utilize AI securely and audibly. Furthermore, Luci significantly reduces investigation times from 2.5 hours to just 25 minutes, saving Tier 1 banks an estimated $25 million annually.

Guðmundur Kristjánsson (GK)Lucinity’s Founder and CEO comments, “These awards are a testament to the strength and reliability of our solutions, made possible by our strategic partnership with Microsoft. Utilizing Microsoft Azure, we have been able to drive rapid innovation and create a robust, scalable platform that meets the rigorous requirements of compliance teams.” 

On the Sustainability and Social Impact Partner Award, Microsoft says, “Lucinity, with their innovative AI solutions, has really tried to combat this huge global challenge. They use ‘Human AI’ to enhance financial crime prevention, combining AI with human expertise for efficient, user-friendly solutions. Additionally, Lucinity has developed a tool called Luci, an AI-powered copilot that helps transform financial crime prevention from a process that took hours to one that takes minutes.”

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2024 Hengqin Global Investment Promotion Conference Kicks Off

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HENGQIN, China, May 28, 2024 /PRNewswire/ — The Hengqin 2024 Global Investment Promotion Conference and sharing sessions opened on 26 May. Liu Xianfa, Commissioner of China’s Foreign Ministry in the Macao SAR; Lei Wai Nong, Director of the Executive Committee of the Guangdong-Macao In-Depth Cooperation Zone in Hengqin (hereinafter referred to as the “Cooperation Zone”); Huang Zhihao, Deputy Secretary of the CPC Zhuhai Municipal Committee and Mayor of Zhuhai; Nie Xinping, Fu Yongge, Su Kun, Deputy Directors of the Executive Committee of the Guangdong-Macao In-Depth Cooperation Zone in Hengqin attended the event. It also attracted more than 1,000 investors from Macao’s business associations and renowned enterprises at home and abroad. Guests attending the event came from 42 countries and regions, including Portugal, Brazil, Singapore and Malaysia, and the scale of participation was greatly enlarged compared with that of last year.

Lei Wai Nong said in his speech that Hengqin is currently entering into its “prime time” of trade and investment opportunities. He invited all entrepreneurs from home and abroad to invest in Hengqin and embrace the new development opportunities together.

Su Kun introduced the open investment environment of the Cooperation Zone and highlighted that the four new industries have seen significant progress and new development opportunities since the implementation of tier-specific management.

The event featured presentations on investment and development in Hengqin by representatives of Wisewave (Zhuhai) Technology Co., Ltd. and Airbus Helicopters China.

Nine research experts, scholars, and entrepreneurs from Macao and Hengqin have been invited to serve as “Ambassadors for Hengqin”. Together with six “Advocates for Hengqin” they are expected to promote Hengqin to the world. The video series “Ambassadors for Hengqin” will be rolled out in June.

Highlights of this year’s conference included an exhibition on the four new industries in the Cooperation Zone, showcasing the fruits of development in recent years. As of the end of the event on 26 May, more than 69,000 audience watched the online broadcasts.

On 27 May, a series of sharing sessions were held for in-depth discussions on integrated circuits, traditional Chinese medicine, branded industries, modern finance, cultural tourism, conventions and exhibitions, trade, and cross-border e-commerce, with the aim of building a bridge for dialogue and cooperation in these industries. 

Photo – https://mma.prnewswire.com/media/2423506/2024_Hengqin_Global_Investment_Promotion_Conference_Kicks_Off.jpg

Cision View original content:https://www.prnewswire.co.uk/news-releases/2024-hengqin-global-investment-promotion-conference-kicks-off-302156904.html

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