07 October 2015

MasterCard buys stake in data analytics firm Mu Sigma

07 February 2013  |  6369 views  |  0 Couple shopping

MasterCard is stepping up its interest in transactional big data, forming a partnership with, and acquiring a stake in, analytics firm Mu Sigma. Financial terms were not disclosed.

Mu Sigma employs around 2500 'decision science professionals' serving companies in industries such as financial services, insurance and healthcare.

The partnership will see MasterCard Advisors' aggregated and anonymous purchase behaviour insights combined with Mu Sigma's analytics to develop products that help firms acquire and keep customers.

Gary Kearns, EVP, information services, MasterCard Advisors, says: "The data analytics market is rapidly growing as customers seek real time insight allowing them to better connect with their consumers through highly relevant products, offers and services."

Companies are increasingly looking to mine the ever-growing mountain of consumer data available to them, a fact that new player ERN is also hoping to take advantage of with the imminent launch of its Looop platform.

However, there are dangers associated with handling customer information, as MasterCard discovered last Autumn when it faced a barrage of negative headlines about its plans to sell card transaction data to large retailers and corporations.

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board, sign up now.

Related blogs

Create a blog about this story (membership required)

Related stories

07 February, 2013
26 October, 2012
07 September, 2012

Related company news


Top topics

Most viewed Most shared
Shaping the Future of Banking: an event fo...
10418 views comments | 4 tweets | 2 linkedin
BNP Paribas to pilot cards with dynamic CV...
6798 views comments | 31 tweets | 37 linkedin
Worldpay trials facial recognition technol...
6573 views comments | 24 tweets | 39 linkedin
Payments firm Adyen scores funding at $2.3...
5092 views comments | 16 tweets | 14 linkedin
Faster Payments eases access for challenge...
4447 views comments | 20 tweets | 25 linkedin

Featured job

£100,000 basic, £180,000 OTE + Benefits

Find your next job