Mastercard Debuts New Open Banking-Powered Tools That Put Consumers in Control of Their Data, Safely and Securely

Open banking makes sharing financial data with third-parties seamless and secure, helping consumers access valuable financial experiences such as easier ways to pay recurring bills or more inclusive pathways to build credit and secure a loan. Shouldn’t there be a central place for consumers to manage where that financial data is going?

Introducing Mastercard Connect Plus, a data command center that will give consumers control of where, how and with whom their financial data is shared. Within one secure, easy-to-use digital web application, individuals will be able to search for and link their bank accounts, view which third-parties have consent to access that account’s data and grant and revoke consent in real time. And to ensure the consumer is kept in the loop at all times, Connect Plus will notify users when a third-party’s permission to access account data is expiring or needs additional attention.