MasterCard buys cloud data analytics firm Applied Predictive Technologies for $600m

MasterCard buys cloud-based data analytics company Applied Predictive Technologies (APT) for $600m to offer customers big data services

MasterCard has bought cloud-based analytics company Applied Predictive Technologies (APT) for $600m.

MasterCard will offer big data analytics services to its customers to help them make informed business decisions. APT will benefit from having more resources with MasterCard's global operation.

“In today’s competitive business climate, companies need analytics that are easy to use and drive action,” said Kevin Stanton, president of MasterCard Advisors. “APT’s world-class talent, technology and Test & Learn platform, matched with MasterCard’s analytics, will give our customers the advantage of enhanced and actionable decision making.”

APT customers include Fortune 100 companies across a number of industries. “MasterCard is uniquely positioned, with its corporate footprint and analytics expertise, to help us expand our business, working with even more clients around the globe and evolving our product capabilities,” said APT CEO Anthony Bruce.

Read more about finance IT

MasterCard expands technology reach

MasterCard is not just investing in big data technology. In February 2015 MasterCard said it will launch a biometric authentication and verification pilot as part of a $20m spending boost to improve its cyber security technology.

As financial services' operations become increasingly digitised, companies in the sector are investing in and buying technology companies. For example, following its $15m investment in financial analytics startup Kensho late last year, investment bank Goldman Sachs invested $20m in high-frequency trading firm Perseus.

At the same time technology companies such as Google and Apple are encroaching on the financial services sector. These technology platforms are agile enough to try things out to see if they work, and have enough money to make acquisitions.

Read more on IT for financial services

Start the conversation

Send me notifications when other members comment.

Please create a username to comment.

-ADS BY GOOGLE

SearchCIO

SearchSecurity

SearchNetworking

SearchDataCenter

SearchDataManagement

Close