Mastercard launches agentic AI tools for SMBs

Mastercard aims to enhance small business operations with its new agentic AI solution. The solution, called Virtual C-Suite, connects with accounting systems, business software systems and banking applications, according to a March 10 Mastercard release. Once integrated, AI agents perform tasks including: Analyzing business performance; Identifying risks and opportunities; Predicting outcomes; and Recommending next steps and longer-term actions. The agents combine proprietary insights from billions of transactions that Mastercard processes each year with a business’ specific financial activity. With Virtual C-Suite, the company hopes to offer the data quality and strategic expertise that are typically available only to larger enterprises, according to the release. The first module within the C-Suite platform, Virtual CFO, is set to roll out this year. [caption id="attachment_57384005" align="aligncenter" width="800"] A POV of the Virtual CFO within the Virtual C-Suite platform (Courtesy/Mastercard)[/caption] Customization, safeguards key Customization is core to the Virtual C-Suite because “no two small businesses are the same,” Mark Barnett , global head of small and medium enterprises at Mastercard, told FinAi News . “Agents will be able to focus on the responsibilities that matter most to the business at that moment — whether that’s tightening cashflow forecasting, staying ahead of supplier payments or surfacing early signs of risk,” he said. “And because the experience is conversational, owners don’t need to learn a new workflow or language.” The agents respond to questions with explanations, charts or recommendations tailored to the needs of that business, he said. [caption id="attachment_57384006" align="aligncenter" width="800"] POV of the Virtual CFO (Courtesy/Mastercard)[/caption] While many dashboards and analytics tools used by SMBs are good at presenting numbers, they may struggle interpreting that data, Barnett said. Mastercard is working to bridge this gap with the C-Suite. “Instead of just visualizing a trend line, it tells you what’s driving it. Instead of simply flagging an anomaly, it explains why it matters and recommends what to do next." — Mark Barnett , global head of SME, Mastercard "It shifts the experience from reading a dashboard to having a dialogue with an agent who understands your business as well as your data," he said. To help ensure accurate and responsible recommendations, the agents are built with guardrails to avoid jumping to conclusions, “making clear when something is a signal versus a certainty.” “As AI becomes more embedded in daily operations, ensuring trust, safety and clarity is non-negotiable,” he said. FIs key to AI strategy The C-Suite, developed in-house, aligns with Mastercard’s broader agentic AI strategy to support the full lifecycle of money movement, Barnett said. Financial institutions are “key players in this vision,” he said. “They’re already one of the most trusted channels through which small businesses manage their operations, which makes embedding Virtual C‑Suite directly into those environments especially powerful,” he said. [caption id="attachment_57384007" align="aligncenter" width="800"] POV of the Virtual CFO (Courtesy/Mastercard)[/caption] Mastercard’s bank issuers include: $4.4 trillion JPMorgan ; $3.4 trillion Bank of America ; $3 trillion HSBC ; $1.5 trillion BMO ; $669 billion Capital One ; and $548 billion Truist . Mastercard will continue to roll out executive-function agentic AI tools from the C-Suite package in phases, addressing areas such as security, marketing and operations, according to the release. The company declined to disclose the cost to develop the C-Suite. Register for the upcoming FinAi Lending Summit, set for Oct. 7-8 in Las Vegas, here .

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Mastercard launches agentic AI tools for SMBs

FIs play key role in facilitating card issuer’s AI initiatives

UiPath’s agentic AI tools can provide 50% efficiency in lending processes

Finastra to launch agentic AI lending tool by yearend

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