Mastercard and Citi expand partnership to further financial inclusion and sustainability effortsOctober 7, 2021 | New York City, NY
Citi joins Mastercard’s City Possible™ network to transform the dialogue around government services and enable local governments to engage their residents more simply, inclusively, and cost effectively
Mastercard and Citi today announced a new partnership to support local residents and small businesses through greater public-private sector collaboration. Through City Possible, Mastercard’s partnership and co-creation framework for cities, the two global leaders will bring their collective resources, expertise, and integrated urban development frameworks to the City Possible network.
The partnership will initially grant City Possible network members access to “Citi Start Saving” and “City Builder by Citi” through the Mastercard City Insights Digital Marketplace. The Citi Start Saving program allows U.S. municipal and nonprofit organizations to expand access to financial services and advance economic progress in underserved and low-income communities. City Builder by Citi is a free, data-driven platform that aggregates information about community investment opportunities and includes information on 16,000+ U.S. cities, 73,000 census tracts, 485 community development projects, and 180 funds and community development entities. The new tools will provide City Possible members the ability to assess the impact of a climate or economic event to support policy and program development. The partnership will also explore ways to help city leaders develop more efficient procurement processes as well as identify avenues to support an inclusive recovery through joint disbursement solutions.
Since its inception, City Possible has facilitated a framework where members can draw on the collective expertise and resources of all stakeholders in order to replicate innovative solutions that address urban challenges. City Possible works to foster collaboration and co-creation, drive inclusive economic development, and build more resilient communities.
“Cities need to think about how to adapt to a digital world in a way that leverages technology to bring more people into the digital economy,” commented Miguel Gamino, Executive Vice President, Enterprise Partnerships and Head of Global Cities and City Possible at Mastercard. “Partners like Citi allow us to continue to expand the range of solutions we can provide to the City Possible network, which has already played an important role in helping to build more inclusive communities.”
“Technology is interconnecting cities like never before, and Citi has been focused on solutions to enhance the urban experience for citizens, government and corporations alike,” noted Andy Taylor, Managing Director, North America Public Sector Group, Citi. “Partnering with Mastercard will accelerate these endeavors and generate new thought leadership across the City Possible network.”
Today’s announcement builds on Mastercard and Citi’s longstanding partnership to provide innovative solutions to multinational corporations, financial institutions and public sector organizations across the globe. Last year, Citi also joined the Priceless Planet Coalition as a founding partner. Created by Mastercard, the coalition unite the efforts of consumers, financial institutions, merchants and cities to fight climate change through the restoration of 100 million trees over five years – together with climate science and forest restoration experts Conservation International (CI) and World Resources Institute (WRI).
For more information about City Possible, visit www.citypossible.com.
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Additional information may be found at www.citigroup.com | Twitter: @Citi | YouTube: www.youtube.com/citi | Blog: http://blog.citigroup.com | Facebook: www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi
About Mastercard (NYSE: MA)
Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.