MasterCard Enhances Customer Experience with Self-Service Data Preparation
Applicable Industries
- Consumer Goods
- Retail
Applicable Functions
- Quality Assurance
- Sales & Marketing
Use Cases
- Machine to Machine Payments
About The Customer
MasterCard is a leading technology company in the global payments industry and the second largest processor in the world. It operates the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments, and businesses in more than 210 countries and territories. MasterCard’s products and solutions make everyday commerce activities – such as shopping, traveling, running a business, and managing finances – easier, more secure, and more efficient for everyone. The company is continuously growing with rapidly expanding product offerings.
The Challenge
MasterCard, a global technology company in the payments industry, was facing a significant challenge in its business financial support team. The team of 13 was spending between 40 to 80 hours per week manually reconciling transactions and cash from reports that resided on the company’s mainframe. This process involved printing 20-30 individual, multi-page reports daily and hand-keying data into Excel for reconciliation. The task was not only time-consuming but also inefficient, especially considering the company's rapid growth and expanding product offerings. Derek Madison, Leader of Business Financial Support at MasterCard, was tasked with identifying new ways to increase efficiency and improve MasterCard processes.
The Solution
MasterCard adopted a data preparation solution from Monarch to address this challenge. Monarch extracts vital information locked in mainframe reports and delivers it to a team of analysts for immediate use. Madison and his team created reusable data prep models with Altair® Monarch®, which allowed them to convert the needed mainframe files into a tabular data file ready for analysis. Specific dates and times were recorded on mainframe reports, and a program was created to rename the output files and save them to a location that corresponded with the date. This automation eliminated the time-intensive manual hand keying, enabling the team to shift their resources to higher value and more strategic goals.
Operational Impact
Quantitative Benefit
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