MasterCard April 2020

MASTERCARD

DIGITAL REPORT 2020

EVOLVING SUPPLY CHAIN

IN ASSOCIATION WITH

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EVOLVING SUPPLY CHAIN

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MASTERCARD

Mark Bromley, Director, Sourcing and Supplier Management, Mastercard, details the pivotal role of supply chain in driving the financial giant as a world leader

M

astercard is a name that is synonymous with the global financial services sector; a payment network that financially

unites countries on a global scale through its partnerships with merchants, consumers and government entities. With over 2.5 billion cards 04

embossed with Mastercard’s logo, it remains one of the most recognised brands today.

The secret to the provider’s success may be in part attributed to its market tenure, having been around for half a century, but in an ever-changing industry increasingly populated by disruptive startups, unicorns and innovators, the giant has also taken considerable steps to remain relevant. From the nurturing of startups through to its sustainable initiatives, Mastercard has proven time and again that it is ethically and practically invaluable to its customers, and every year, the cooperation receives numerous accolades. So far in 2020, it has already been awarded Fortune’s Blue Ribbon Companies 2020, it has been recognised as one of the World’s Most Admired Companies by

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MASTERCARD

“ I don’t like the thought of procurement just being seen as a process that uses rubber stamps to get something done” — Mark Bromley, Director, Sourcing and Supplier Management, Mastercard

Fortune and ranked in Bloomberg’s 2020 Gender Equality Index. As well as receiving a perfect score on the Human Rights Campaign’s 2020 Corporate Equality Index, Mastercard is listed

as one of America’s Most Responsible Companies

by Newsweek.

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Mark Bromley, Director, Sourcing and Supplier Management, Mastercard, provides an insight into the way in which the company is innovating its processes to be more accessible to startups. Bromley has worked with Mastercard for a little over four years, having previously worked with Barclays Investment Bank as a Global Sourcing Manager and Head of Transactional Sourcing, and as a Procurement Analyst for American Express previous to that.

As Director of Sourcing and Supplier Management, he is responsible for building sourcing strategies that align with the corporate vision, and Bromley and his team were recently awarded

Debit Mastercard – Everyday Priceless CLICK TO WATCH

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07 the Bias For Speed award from

process from several months down

Mastercard’s Head of Legal for the

to just two weeks.

implementation of a process that

The onboarding process took

allows the seamless onboarding of

Bromley and his teams six months

startups into the Mastercard ecosys-

to create, and was culminated from

tem, The Mastercard Start Path.

numerous workshops and meetings

“We see the value of startups and want

that gathered a number of departments

to be a partner to these companies,”

across the organisation, including

says Bromley, “and we wanted to

finance, supply chain, risk, business

create a process that did not control

and legal. “To get all these departments

design for startups, but more speed

together with one goal in a global com-

to market.” It is from this goal that

pany is quite an achievement, and

Bromley and his teams moved to

something I am personally proud of.”

create a process that allowed for a

The new on-boarding process

startup to complete the onboarding

platform added a great amount of w w w.ma ste rc a rd . co. u k

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MASTERCARD

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efficiency to a once timely process,

says Bromley. He enthuses that this

allowing for a faster cataloging and

is overcome by taking a more consul-

shortlisting of fintech and startup

tative role, where those in supply chain

applicants. Bromley shares that once

reach out across the company and

these companies apply through the

suggest processes based on their

aforementioned portal, they are

extensive knowledge of Mastercard’s

manually reviewed by Mastercard,

partners and processes. “So much of

and around six are taken into the

our work with fintechs, startups and

Mastercard ecosystem, giving them

SMEs is about revenue generation,

access to it’s diverse network, as well

and with that, speed to market prod-

as six months of mentoring. “I don’t like

ucts. As a result the supply chain

the thought of procurement just being

teams work closely with product

seen as a process that uses rubber

teams to ensure that each startup

stamps to get something done,”

entering our ecosystem is

receiving the best support and con-

received by stakeholders, without

nected with the best-matched

whom, the success of the new process

companies in the network.” Start Path

would not have been possible. “The

was recently named The Best

process is only as good as the support

Innovation Program in 2020 by

you receive for it. Our senior stakehold-

Tearsheet, a testament to Mastercard’s

ers understand that supply chains are

collaborative approach to innovation.

diversifying and as a result have been

One of Bromley’s favourite aspects of Mastercard is the culture. “It’s very

exceptionally supportive,” he says.

This work that Bromley has led is a part

inclusive,” he shares. “It’s great to be

of Mastercard Labs (R&D innovation

a part of a company that talks the talk

team), of which there are eight globally.

and walks the walk.” He commends

The labs specialise in VR, AI, AR and

the work of president and CEO, Ajay

blockchain, with an exploration into how

Banga, who works tirelessly to ensure

these technologies can drive company

diversity and inclusion. Bromley shares

value while also providing new innova-

that the new process was well

tions to the 20,000 banks and 60 million

E XE CU T I VE PRO FI LE

Mark Bromley Mark Bromley has global exposure and experience of sourcing in international locations mostly focused in EMEA, APAC and the US, and more than 14 years’ experience in the Procurement sector across multiple categories including Software, Hardware, IT Services, Marketing & Advertising, Payment Solutions and Data. With more than two and a half years of team management based in Singapore, a proven track record of delivering savings and implementing various contractual frameworks and procurement processes. , he also has international experience with four years based in Singapore. w w w.ma ste rc a rd . co. u k

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CUSTOMER CENTRICITY

•

INNOVATION

•

EXPERT EXECUTION

FACT BOX

Driving diversity through procurement “Our supply chain is diverse, and it is essential that we embrace it as a company, both in our own company and through our partnerships.” One partner of particular note is Gibbs Hybrid.

“Farida Gibbs is from a womenowned business, and a business woman whose approach I greatly respect,” shares Bromley. “After a number of meetings with Mastercard, we onboarded Gibbs Hybrid into our ecosystem, and they have been working with our New York labs team.” Bromley explains that Gibbs Hybrid understands Mastercard’s brand

and compliments the company well. He also shares that there are a number of initiatives that Mastercard champions, from the Women Leadership Workshop, through to its burgeoning LGBT+ group. “We want our own people within the company to feel comfortable, so that they can accelerate with full support, and this is embodied from our CEO, right through to our most recent onboarded startup. It’s great to see such diversity; it nurtures culture and builds a strong company with people that enjoy what they do.”

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Mark Bromley, Mastercard Director, Sourcing & Supplier Management © Creation Agency 2020. All rights reserved. All third party logos mentioned herein may be the registered trademarks of their respective owners.

“ So much of our work with fintechs, startups and SMEs is about revenue generation, and with that, speed to market products” — Mark Bromley, Director, Sourcing and Supplier Management, Mastercard

merchants it supports. In addition to his work with the innovation labs, Bromley has two other areas of responsibility within

the remit of the supply chain: cyber and intelligence solutions, and card products.

“Looking at what our cybersecurity team is doing is both amazing and challenging,” Bromley says. “One bad experience can lose a customer permanently, and larger companies are constantly the target of cyberattacks, so we need to ensure that our customers and their assets are protected at all times.” The cyber group specifically focuses on securing the payments in Mastercard’s ecosystem and leveraging the suppliers that enter into the ecosystem in strengthening the company’s cybersecurity. Bromley shares that Mastercard is also looking to expand it’s Artificial Intelligence Academy to drive its cybersecurity capabilities. w w w.ma ste rc a rd . co. u k

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Partnership spotlight SHI One long standing partner within the technology space is SHI. “SHI are a strategic partner to Mastercard in the technology space, says Bromley, “they provide a reliable and important service to our business over a number of years, a trusted partner who we look forward to working with on our journey into the digital age.”

Creation Agency ”All companies are a key part of our success and Creation Agency is one of our more recent

additions to our partnership portfolio. Creation Agency understands the Mastercard brand well; they are a hungry, responsive and dedicated team that always looks at the bigger picture.”

Freestyle IT “Freestyle IT have been a trusted VAR partner to Mastercard for several years now. Albeit a small company, they punch above their weight and no task is too difficult for them to handle. They are reliable and trusted by our stakeholders.”

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MASTERCARD

1966

Year founded

$12.5bn+ Revenue in US dollars (2017)

16,000 Number of employees

“ It’s great to be a part of a company that talks the talk and walks the walk” — Mark Bromley, Director, Sourcing and Supplier Management, Mastercard

As well as keeping payments safe, Mastercard needs to ensure that its vast number of products are well tailored to customers and competitive in the marketplace. “There are 2.5 billion Mastercards out there. Our teams are working on those products and working with partners, particularly within the

but I have every faith that with their support we will continue to really drive change at Mastercard.” He asserts that the future for supply chain and procurement will continue to change. “We will no longer be a retrospective outfit within the company, but a proactive partner across the board that will innovate and collaborate both internally and externally, to deliver the company’s strategic objectives.”

“Industry-wide, supply chain has the chance to do a lot more than just be a paper-pushing function. Push yourselves and lead your team through change to make procurement a go-to partner within the organisation.” Though many companies have yet to adopt this mentality with regards to procurement, it is loyalty space, to create a better expe-

evident that this approach is deeply

rience for our users.”

embedded in Mastercard’s culture,

Bromley acknowledges that there

which will undoubtedly continue to

is still a long way to go in streamlining

position it as a global leader in the

the procurement process, but he

payment’s industry.

looks ahead with anticipation. “I’ve had great support from both the leadership team and the wider Mastercard team; it hasn’t been easy, w w w.ma ste rc a rd . co. u k

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MASTERCARD ADDRESS 10 UPPER BANK STREET CANARY WHARF LONDON E 14 5NP T +0207 5575036 www.mastercard.co.uk

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