Case Study: The MasterCard Foundation
A close look at the InnoCentive Challenge that yielded incredible results for The Mastercard Foundation
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It is estimated that, globally, two billion people do not have access to formal financial services. There is, however, a growing financial inclusion commitment in international development circles to enable low-income individuals, households, and small businesses to gain access to relevant and adequate financial services, contributing to improvements in incomes and livelihoods. Nonetheless, financial service providers are not always successful in developing truly client-centric products and services that meet customer needs. This is why The MasterCard Foundation decided to launch this Prize.
Why Challenge Driven Innovation?
Inside, you’ll find:
- A quick snapshot of the Innovation Challenge run by The Mastercard Foundation using InnoCentive’s Challenge Driven Innovation framework
- The Challenge: The MasterCard Foundation Clients at the Centre Prize
- The various solutions submitted and the winners that were chosen
- The results: how this innovation Challenge helped The Mastercard Foundation reach their key goals
Who Should Read This eBook?
If you’re a senior leader with managerial oversight or influence over your organization’s innovation initiatives or R&D function, this guide will provide you with fresh, new ideas and methods for tackling complex business problems and innovation challenges.
“The Prize engaged hundreds of people and attracted a diverse range of applications in terms of both geography and service type.”
