Mastercard Foundry, the innovation hub for product development at the card giant, is creating a new technology-focused position, as it continues its tech investment. 

The company’s operating expenses in 2023 increased 11% year over year to $11.1 billion, according to Mastercard’s Jan. 31 earnings presentation.  

Director of innovation

The $42 billion card giant’s ideal candidate for the role of director of innovation management has experience navigating Fortune 500 companies, project management skills and experience streamlining automation, a Mastercard spokesperson told Bank Automation News. 

The new Dublin-based director will be responsible for “managing key components of the Mastercard Product Lifecycle Framework, known internally as ‘Studio,’” the spokesperson said. “This role will build new structures and processes that encourage collaboration.”

The new hire will report to Mastercard Foundry Chief of Staff Franziska Petersen, according to LinkedIn.  

Qualified applicants must have an undergraduate or master’s degree, experience in start-up and corporate environments and data expertise, according to the job posting.  

Innovation management specialist

As Foundry expands, Mastercard is also hiring an innovation management specialist for the team who will report to the new director, the spokesperson told BAN. This entry-level position represents “a testament to Mastercard Foundry’s investment in the space, as well as how they’re continuing to integrate innovation management into our operating systems.”  

The role will be focused on managing KPIs, administrative tasks and helping improve Foundry’s reporting processes, the spokesperson said. 

The candidate must have an undergraduate or master’s degree, experience in a start-up or corporate environment and exposure to payments or retail banking, according to the job posting.  

Foundry insights

Mastercard Foundry produces insights on industry themes including how to approach generative AI, quantum computing, powering digital transformation and other areas of tech transformation, according to Mastercard’s website. 

According to a December Mastercard Foundry report, financial institutions looking to invest in generative AI can implement the technology in the following ways: 

• Software development; 
• Updating legacy systems; and 
• Review and debug code. 

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