Microsoft's recent cloud-centric partnerships include a five-year deal that was signed with PepsiCo yesterday, and a strategic alliance with U.S.-based finance firm MSCI last week, among others. Today, the tech giant has unveiled a collaboration with multinational financial services corporation Mastercard.
The partnership will focus on accelerating digital commerce, empowering fintech innovation, and improving upon financial inclusivity. From Mastercard's point of view, the firm will be gaining cloud and AI support through Azure to advance its research and development activities. More specifically, Mastercard Labs will be able to leverage Microsoft's services to explore further opportunities in the cloud and fintech ecosystem.
Ken Moore, Executive VP and Head of Mastercard Labs, commented on this development in the following manner:
"We are thrilled to deepen our longstanding relationship with Microsoft by advancing the research, development and scaling of new technologies and business models. This strategic collaboration will strengthen and extend our cloud services and capabilities for clients and fintech partners, sparking innovation and creativity for the ecosystem. It will enable us to explore opportunities focused on new client segments, technologies and trends as we continue to drive financial inclusion and build the future of commerce."
The collaboration will also be building upon the success Mastercard achieved through its Start Path program, building new businesses and creating new cloud-first digital products.
Both firms have also highlighted their commitment to providing digital services to underserved communities. Through Azure, support will be provided to the Mastercard Community Pass platform, which focuses on efforts in this regard. Access to critical services and financial security for people in such communities will be prioritized.