Mastercard and Citi Expand Partnership to Further Financial Inclusion and Sustainability Efforts
October 07 2021 - 6:00AM
Business Wire
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.
About Mastercard
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. www.mastercard.com
About Citi
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
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Alisdair Haythornthwaite
alisdair.haythornthwaite@mastercard.com
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