Marketers should seek to enhance user experiences and improve customer lifecycle forecasting through better use of structured data.
That was the advice from Mastercard’s global head of open finance, Jess Turner, who addressed delegates on the opening day of Money 20/20 USA in Las Vegas on Sunday (26 October).
Turner warned industry leaders that “very few companies are effectively using structured data” and said they were missing an opportunity by not doing so.
“At Mastercard, we clean and structure data to forecast the customer lifecycle, helping us enhance user experience and anticipate needs,” she said.
Turner, who has been a Mastercard loyalist for nearly two decades, was hosting a panel alongside fellow big hitters Ratinder Bedi, SVP and global chief credit officer at PayPal and Kate Crous, executive general manager at Commonwealth Bank.
Together, they explored how data, innovation, and consent are reshaping the customer experience.
“At PayPal, we hold a huge amount of data on small businesses and consumers,” Bedi said, adding that the company’s ability to digest correlations was actively steering how PayPal advanced solutions to customers.
“At the end of the day, it’s about how we use that data to deliver better experiences. If we don’t grow with the customer, we lose them to the competition.”
Crous meanwhile, noted that data quality is now directly linked to customer trust and experience.
“If you don’t have great data, you can’t offer great experiences,” she said. “Connectivity and consent are fundamental – you need both to have the opportunity to improve the customer journey.”
Crous gave an example from Commonwealth Bank’s partnership with telecoms companies in Australia, where the use of shared data insights has reduced fraud calls.
“When data is connected, understood, and acted on responsibly, that’s when it really drives impact,” Crous said.
For PayPal, however, credit is the most transformative use case.
“Traditionally, credit decisions relied on existing relationships or application data,” Bedi said.
“Now, open banking and new data sources are helping us manage risk more effectively and include people who were previously left behind by traditional credit models. Global data sharing helps us say yes to more customers.”
Across the discussion, three key themes emerged: data is driving personalisation, clear consent builds empowerment, and AI is set to redefine the consumer journey.
“In order for data to truly deliver, consumers need to understand its value,” Crous concluded.
“It’s an education piece, showing people how their data, used responsibly, can enhance their financial wellbeing. My advice to every institution is simple: invest in data like its critical infrastructure and stay curious.”
Find out more about Mastercard’s vision for open finance, security, and smarter payments at Money 20/20 USA at the following sessions:
- “Mr. Open Banking Podcast-LIVE! 2 Pick a Card”
Featuring Jess Turner, EVP, Global Head of Open Finance
Monday, October 27 | 3:45–4:25 p.m. | MoneyPot Podcast Booth 2, Money Hall - “Fraudwatch: Money2020 Special Edition”
Featuring Marie Aloisi, EVP, US Market Development, and Seckin Yilgoren, SVP, Security Solutions
Monday, October 27 | 1:15–1:55 p.m. | MoneyPot Podcast Booth 1, Money Hall - “Smarter Payments, Safer World: Threat Intelligence in Action”
Featuring Johan Gerber, Global Head of Security Solutions
Tuesday, October 28 | 2:10–2:40 p.m. | Exchange Stage, Venetian Ballroom, Level 2