By joining Start Path, Fuse can access hands-on mentoring through Mastercard’s global network, which will help it accelerate and scale its solutions.
Founded in 2014, Mastercard’s Start Path Open Banking programme enables Open Banking startups to advance and expand their banking and payment solutions which, in turn, allow for greater consumer choice.
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The programme has engaged more than 360 startups from 49 countries. In 2020, and amid changing consumer behaviours due to Covid, Mastercard rapidly scaled up Start Path, adding 11 companies to the programme in August and further expanding the offer to ten others in November.
Fuse uses insights from Open Banking and transaction data to provide lenders with analytics. Its Pave app has so far analysed more than 150,000 lending decisions, 1.5 million consumer credit reports and over 400 million Open Banking transactions since its launch.
Its co-founder, Sho Sugihara, commented: “Joining Mastercard’s Start Path program is a vital milestone in our journey to transform finance and offer financial institutions the necessary tools to improve support for consumers.
“Unlocking access to the world-class expertise, insight and tools available through Mastercard’s programme will allow us to scale at pace, expanding our reach and providing more banks and other financial institutions with an AI approach which enables a fairer financial system for millions”, Sugihara added.
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