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MasterCard’s Priceless Engine Wins Financial Insights Innovation Award

MasterCard’s Priceless Engine was conferred the ‘Asia’s Leader in Customer Engagement’ award at the 11th annual Financial Insights Innovation Awards (FIIA) held at the Asian Financial Services (AFS) Congress organized by IDC Financial Insights in Singapore. Read the full press release here.

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Launched across Asia Pacific in September 2014, the Priceless Engine is a data and analytics driven platform that allows MasterCard to provide bank partners with the deep insights that help them deliver timely and relevant content to their customers.

“As MasterCard research shows, having the right offers, the right data, the right assets and the right content at the right time will change consumers’ behaviour,” said Sam Ahmed, Senior Vice President and Group Head, Marketing, Asia Pacific, MasterCard. The Priceless Engine has the ability to do just that, driving brand differentiation and significant revenue growth for partners.

This is especially significant as Asia is fast exceeding the rest of the world in social media usage, with one out of every two social media users globally residing in the region. At the same time, e-commerce growth in Asia is at a staggering 30%.

“Innovation is crucial to staying relevant in this swiftly evolving digital age, and MasterCard’s Priceless Engine will be the cornerstone in the payments ecosystem, connecting issuers, merchants and consumers,” he added.

Using the Engine across the region, recent campaigns have resulted in 12 million engagements with a reach of 50 million over social media, 3.8 million video views and 3 million clicks to merchants.

“With the Priceless Engine built in six countries across the region, it’s our very talented people who have the ability to utilize big data analytics in real time that has been the key success factor,” he added.

Related content:

  • Watch Sam Ahmed explain the “Priceless Engine”.