R/GA first began working with MasterCard back in 2009, when it replaced MRM//McCann in the U.S. In recent months, Rajamannar has joined many other clients in predicting that his company’s investment in digital marketing would soon “ significantly outpace” its traditional spend, making the win all the more significant for the McCann network. ![]() Tipsters tell us that the agency/client relationship between Bulchandani, Joyce and MasterCard CMO Raja Rajamannar helped facilitate this round of consolidation. Bulchandani, who was formerly EVP of global strategy at McCann, also holds the title of managing director of its New York office. At the time of the launch, the McCann organization brought former chief creative officer Joyce King Thomas back to serve as president, and she was later promoted to chairman in July 2014 as Devika Bulchandani succeeded her in that role. The larger McCann organization launched XBC or “ExtraBoldCondensed” in 2012 to collaborate with other IPG agencies on the MasterCard business. McCann representatives deferred to the client. The client did not address whether it held a formal review, and our sources did not mention one. This means that the client will no longer work with R/GA or VaynerMedia, which previously handled its digital and social work, respectively. ![]() have been consolidated under the integrated McCann XBC team.” We are optimistic that together we can start to drive the change needed to help everyone reach their potential,” Froman said.MasterCard has further solidified its relationship with McCann Worldgroup by consolidating the digital and social media portions of its marketing business with the dedicated IPG shop McCann XBC.Ī client spokesperson writes, “MasterCard regularly reviews and assesses industry resources, as part of responsible vendor and agency management,” adding, “At this time, we can confirm that our digital and social marketing activities in the U.S. “By investing resources and capital directly in Black and minority-led companies like MoCaFi, we can build the capacity of those with a direct connection to underserved communities and help them to scale. Partnerships are critical to achieving that goal and we’re continuing to expand our support for and collaboration with Black entrepreneurs,” said Michael Froman, vice chairman and president of strategic growth at Mastercard. “Mastercard is leveraging our company resources – everything from our products, services, technology and financial support – to help close the racial wealth and opportunity gap. The digital Mastercard Money Connect Solutions will help reduce dependence on payday lending, allow people to send money to relatives affordably enable simple real-time bill payment and check deposits by phone. The lack of access to basic financial services means that Black individuals are spending 50 to 100% more per month for banking services, which over a lifetime add up to $40,000 in fees. Mastercard’s investment into MoCaFi gives us the basis to scale our operations and create the impact that we seek to deliver – providing us another hand to serve communities.” “Social justice without economic justice is like one hand clapping. ![]() “As a neo bank focused on closing the racial wealth gap, MoCaFi sees a great opportunity to create market-based solutions that address the structural economic inequality that exists in this country,” said MoCaFi CEO and Founder Wole Coaxum in a prepared statement. The team has already launched initiatives in Honolulu to enable critical financial assistance and are supporting universal basic income pilots in Newark, San Francisco, and Columbia, S.C. The investment is part of Mastercard’s $500 million pledge to close the racial wealth and opportunity gap in the U.S., launched in September and with it, the financial companies will scale their collaboration in cities across the country to expand access to vital programs such as financial aid and social benefit programs. MoCaFi, which focuses on providing tailored digital tools and payment cards to low-wealth minority and Black communities, has been working with Mastercard via the Mastercard StartPath program, a springboard to help later-stage startups maximize their opportunity for success. 26 to expand its card programs and solutions to help address the inequities in the financial system for the underserved and underbanked. Newark fintech Mobility Capital Finance, or MoCaFi, garnered an investment from Mastercard Feb.
0 Comments
Leave a Reply. |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |