Mastercard and FD Global Unveil Fintech Governance Initiative in Australia

<p>Mastercard, in collaboration with FD Global
Connections, has rolled out a new initiative in the Australian fintech sector.
This venture aims to assist Australian fintech firms in streamlining their
governance and risk management practices. It addresses the tightening conditions for capital
acquisition that has prompted innovators to reassess their priorities.</p><p>According to ITBrief, this program, dubbed FinTech
Pathway to Effective Governance, focuses on four areas essential for fintech companies. These include implementing governance and risk
management practices, recruiting and retaining experienced board members,
establishing global structures for effective governance, and aiding fintech
entities in expanding their network of non-executive directors.</p><p>Mastercard Targets Fintech Firms in Australia</p><p>Dan Martin, the Vice President and Head of Digital
Partnerships, Australia, at <a href="https://www.financemagnates.com/tag/mastercard/" target="_blank" rel="follow">Mastercard</a>, emphasized the program's role in bridging
the gap in providing support to <a href="https://www.financemagnates.com/terms/f/fintech/">fintech</a> partners. This is in light of the
current economic landscape and the evolving regulations.</p><p>Recently, nine fintech firms completed the program.
They received insights from industry leaders, regulatory figures, and
non-executive directors. The curriculum included a one-on-one mentoring session
in the final week. </p><p>Mastercard has set its sights on the fintech
landscape through its partnerships in Europe and North America. The company
manages digital partnership programs, such as Mastercard Fintech Express and
Mastercard Start Path. These programs aim to provide financial flexibility
and offer global licensing support to fintech firms.</p><p>AI Initiatives in the Payment Space</p><p>Additionally, <a href="https://www.financemagnates.com/trending/mastercards-masterstroke-leveraging-ai-to-reduce-payment-problems/">Mastercard is leveraging Artificial Intelligence</a> to tackle the challenges of cybercrime, expanding payment
ecosystem, and increasing regulations. According to a recent report by <a href="https://www.financemagnates.com/" target="_blank" rel="follow">Finance Magnates</a>, the company recently unveiled a suite of AI-powered solutions to
enhance its services.</p><p>Mastercard's machine-powered resiliency solutions
aim to ensure a seamless payment flow, alleviating concerns for both financial
institutions and regulators. The integration of AI marks a pivotal shift in the
battle against cybercrime, where data-processing capability is the frontline
defense against fraud, the company said.</p><p>In October, Mastercard <a href="https://www.financemagnates.com/trending/mastercards-allies-with-instacart-and-peacock/" target="_blank" rel="follow">partnered with Instacart</a> to
offer users on-demand online shopping and grocery delivery. Eligible World
Mastercard and World Elite Mastercard holders have exclusive access to
Instacart+ membership perks, including a two-month free trial and a $10 monthly
discount on eligible Instacart purchases.</p>

This article was written by Jared Kirui at www.financemagnates.com.