Mastercard and Citi have 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.
“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.”
