03 July 2015

MasterCard buys stake in data analytics firm Mu Sigma

07 February 2013  |  6232 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

 
Your browser is unable to support Flash files.

Top topics

Most viewed Most shared
Barclays takes on Apple with wearable paym...
8610 views comments | 38 tweets | 34 linkedin
Singapore pledges S$225m to fintech
7203 views comments | 30 tweets | 20 linkedin
Wells Fargo to usher in voice and facial b...
6500 views comments | 20 tweets | 26 linkedin
US banks pump $16.6bn into digital transfo...
6082 views comments | 35 tweets | 23 linkedin
Greeks flock to Bitcoin
5497 views comments | 30 tweets | 18 linkedin

Featured job

to $120K base, double OTE, benefits
New York City, NY or Boston, MA (USA)

Find your next job