Mastercard debuted new open banking-powered tools, including Connect Plus, a data-consent command center designed to give consumers control over how their financial data is shared. This secure digital web application allows individuals to manage third-party access to their bank accounts and revoke consent in real time.
A global survey by Mastercard revealed that 76% of consumers connect their financial accounts, with 93% emphasizing the importance of controlling their data usage. Connect Plus will pilot this year and is expected to be fully available in the U.S. in 2025.
To combat rising fraud, Mastercard is also enhancing its Account Owner Verification solution with new security features, including device intelligence. These AI-powered tools provide elevated insights to confirm ownership, verify identity, and validate devices, adding a crucial layer of security to the open banking ecosystem.
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