Within Element, subscribed customers will be able to reach new audiences using actionable, geographic spend insights based on aggregated and anonymised transaction data. — Photo courtesy of Mastercard
Dynamic Yield, a Mastercard company, unveiled Element, an exclusive suite of Mastercard applications and extensions integrated into Dynamic Yield’s Experience OS.
Element directly links select Mastercard services within Experience OS, the company’s operating system that organizes applications in an open, modular, and fully customisable core framework. This unified approach will allow customers to build their own mix of Dynamic Yield and Mastercard capabilities to meet their evolving personalization needs.
“Combining Mastercard’s exclusive consumer insights with Dynamic Yield’s flexible operating system is the next frontier in helping businesses drive more effective and trusted consumer engagement and loyalty services,” said Matthew Driver, Executive Vice President, Head of Services, Asia Pacific, Mastercard.
“This innovation activates new ways for our customers to leverage powerful insights – across industries and verticals – allowing them to meet changing and increasing consumer expectations with enhanced personalization on any digital channel. It’s an exciting step that advances Mastercard’s mission to help customers make smarter decisions with better outcomes,” Driver said.
Within Element, subscribed customers will be able to reach new audiences using actionable, geographic spend insights based on aggregated and anonymised transaction data. Apply Mastercard’s propensity modelling techniques to help issuers dynamically curate relevant offers, products, and content for existing cardholders within their personal banking platform. Identify relationships between products, locations, and product attributes with Market Basket Analyzer and use these insights to drive smarter personalisation decisions.
While consumer behaviour has been in a state of rapid change over the past few years, the desire for more tailored, meaningful interactions has never been stronger. According to McKinsey research, 71 per cent of consumers expect companies to deliver personalised interactions, and 76 per cent get frustrated when those demands aren’t met. And companies are noticing – 98 per cent of organizations believe in the benefits of personalization and plan to invest further.
Mastercard acquired Dynamic Yield in 2022 to strengthen its suite of consumer engagement and loyalty services, helping brands deliver more effective and trusted experiences across channels. The Element suite of Mastercard applications and extensions are available for subscribed customers in Experience OS; availability of each application may vary across regions. — VNS