BankTech

MasterCard Acquires Applied Predictive Technologies for Big Data Analytics

Cloud-based analytics and Big Data company, Applied Predictive Technologies (APT), has been acquired by MasterCard for $600 million.

This move can be seen as part of MasterCard’s plan to expand its technological reach. The recent acquisition will benefit both MasterCard and APT. MasterCard plans to utilize APT’s Test & LearnTM platform and other services in combination with its own analytics expertise to provide customers with enhanced decision making capabilities.

MasterCard had already begun taking steps towards its new technological goals. In February 2015 MasterCard announced $20 million in funds specifically allocated to boosting its cyber security technology. Plans to launch a biometric authentication and verification service are already in the works.

Previously in this space, Mastercard had acquired 5one Marketing Limited, a global consulting firm. 5one specializes in providing analysis and software services for retail management and business growth. MasterCard integrated 5one into its MasterCard Advisors service, which combines analytics and payments expertise to enable its customers to make informed insights and decisions.

An increasing cross-pollination trend is being seen across financial and technology companies, as they begin to branch into each others’ territories. Many finance-focused companies are beginning to invest or acquire technology start-ups. On the other hand, tech companies such as Apple and Microsoft are slowly moving into the payment realm, as seen with Apple Pay’s banking partnerships and Microsoft’s acquisition of a money transmitter license. As new technologies emerge, the gap between the two will become smaller, and an increasing amount of acquisitions will occur.

About APT

Applied Predictive Technologies is Software Company that specializes in native, cloud-based software tools that enable large, consumer-focused businesses to utilize Big Data analytics. APT has already partnered with 100 of the world’s largest corporations, and handles data for 20% of the US retail economy. APT’s Test & LearnTM software employs patented algorithms and workflow design to allow business to evaluate, target, and refine proposed programs.

Ocean

Ocean is studying Journalism, International Studies, and Japanese at the University of North Carolina at Charlotte. He is very interested in East Asian history and Pop-Cutlure, particularly concerning Korea, India, and Japan. Ocean has great interest in a vast range of technologies and enjoys reading up on cutting edge developments in his free time.

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