Banking News

Amount Joins the Mastercard Engage Partner Network for Open Banking

Amount Joins the Mastercard Engage Partner Network for Open Banking

Amount, a banking technology provider powering end-to-end consumer and small business solutions for account opening, loan origination and financing, announced it is joining the Mastercard Engage partner network. As a technology integration partner, Amount will support Mastercard customers in quickly building and deploying financial services solutions using Mastercard’s open banking platform for new and improved payments and lending decisioning at scale.

“Through our inclusion in the Engage partner network, Amount’s consumer and SMB clients will benefit directly from access to Mastercard’s open banking tools and capabilities to unlock better data, faster decisioning, and greater efficiency.”

With the industry’s rapid adoption of integrative banking frameworks such as consumer-permissioned data access and digital tools, Amount has been selected by Mastercard to help spur innovation across lending, payments and financial management. Through the Engage partner network, Amount now offers new services to its SMB and consumer banking clients that use Mastercard’s open banking capabilities to verify information quickly, including identity, cashflow, checking or savings, and income verification.

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Amount’s inclusion in the Engage partner network also translates into:

  • Access to consumer-permissioned data solutions to empower better decisioning and improved funnel conversion rates
  • Streamlined customer experiences and faster, seamless automated processes
  • Increased efficiency and reduced operational costs by reducing the need for manual reviews by FIs
  • Enhanced accessibility to access Mastercard’s robust open banking capabilities

“We are proud to partner with Mastercard as part of our effort to progress the financial services landscape forward to a more comprehensive and inclusive open banking system,” says Adam Hughes, CEO of Amount. “Through our inclusion in the Engage partner network, Amount’s consumer and SMB clients will benefit directly from access to Mastercard’s open banking tools and capabilities to unlock better data, faster decisioning, and greater efficiency.”

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Mastercard brings a long-standing track record of working with premier technology and fintech partners to build the future of financial services and enable more choices for consumers.

Since 2018, more than 150 partners around the world have joined the Mastercard Engage program. In the last year alone, nearly 100 Engage partners have helped their customers deploy new, innovative solutions on more than 250 million accounts with Mastercard digital services, including all-digital consumer payments experiences, tokenization, digital wallets, mobile POS solutions and open banking.

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[To share your insights with us, please write to sghosh@martechseries.com]

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