Dublin will soon be home to a new European digital center, according to a statement from Mastercard. This action demonstrates a continuous dedication to innovation and regional progress. Dublin was chosen because of its worldwide connectedness and skill pool. Mastercard will be able to take advantage of the finest that Europe has to offer thanks to the new hub.
Table of Contents
- Introduction
- The hub will focus on blockchain technology and digital payments
- The hub is expected to create over 1,000 jobs over the next three years
- Mastercard says the Dublin hub will be a "global center of excellence" for blockchain technology
- The Dublin hub is the latest in a series of expansions by Mastercard around the world
- Conclusion
1. Introduction
The secret to Mastercard's success has always been innovation. Mastercard is making investments in the technology that will determine how commerce will evolve as the world continues to go digital. It will be possible for the business to innovate at the rate of the market thanks to the new center in Dublin.
Dublin was chosen because of its skill pool and connectivity throughout the world. Mastercard will have access to Europe's top talent thanks to the new Dublin hub. Dublin is a significant center for both international trade and travel. An IT hub that will serve the entire region would therefore be ideal there.
The brand-new Dublin tech cluster is only the most recent illustration of Mastercard's dedication to development and expansion in Europe. Mastercard is establishing itself as a pioneer in the digital economy with this action. Learn more related information
2. The hub will focus on blockchain technology and digital payments
Technology for payments and digital identity will be the main topics of the new center.
- The center, which was established by Mastercard Labs, will have a group of developers and data scientists who will collaborate with customers and partners to investigate blockchain technology and other cutting-edge trends as well as to support Mastercard's strategic ambitions in Europe.
- Ed McLaughlin, chief emerging payments officer and president of innovation at Mastercard, stated that innovation is at the heart of everything the company does. "We have access to the best minds in Europe thanks to the new technology center in Dublin, which enables us to participate in Europe's burgeoning technology community. Our diverse teams are always considering ways to make commerce safer, faster, and more secure while also improving the way money is moved."
- Grand Canal Square, one of Dublin's newest attractions, is a €1 billion mixed-use development that combines commercial and technological advancements.
- The new office will initially prioritize three areas: connected devices, new data sciences, and digital payments and blockchain technology, particularly the advancement of artificial intelligence (AI) and machine learning capabilities (including Mastercard's recently launched Mastercard Blockchain API).
According to Mark Barnett, Chief Technology Officer of Mastercard Labs, "We are committed to providing our clients with best-in-class payments service, wherever they are in the world." Dublin is a significant center for FinTech innovation and attracts a wide range of international talent and expertise that will advance our technology.
The Dublin Tech Hub will complement the existing hubs in Tel Aviv, New York, and Silicon Valley.
3. The hub is expected to create over 1,000 jobs over the next three years
Over 1,000 jobs, including those for engineers and developers, are anticipated to be created by the hub over the next three years. The hub is a component of Mastercard's technology and innovation program, and the company has committed to a €200 million investment. By utilizing Ireland's strong university system and R&D environment, as well as by further enhancing Ireland's position as a global tech hub, the hub will be able to capitalize on both of these advantages.
Ajay Banga, Chief Executive Officer of Mastercard, said, "The Hub will help us attract top talent from throughout Europe as we continue to invest in our technological platform, with a special focus on new technologies such as artificial intelligence, machine learning, and blockchain." "We think that the Hub's closeness to universities like Trinity College, Dublin City University, and University College Dublin will make it easier for us to find the talent and skills we need to keep innovating.
With the creation of 1000 jobs over the following three years, the new center will play a significant role in the company's efforts to improve its ties with partners and developers.
4. Mastercard says the Dublin hub will be a "global center of excellence" for blockchain technology
Based in Ireland, the organization will serve as a "global center of excellence" for blockchain technology. Over the next five years, Mastercard claims it will hire an additional 15,000 people, taking its total workforce from 3,000.
400 employees are already employed by the company in Ireland, and it claims it is searching for candidates with experience in biometrics, cloud computing, cognitive computing, artificial intelligence, and data analytics.
Digital currencies like bitcoin are supported by blockchain, a distributed ledger technology. It is becoming more popular in financial institutions as a faster and more secure way to handle transactions, particularly those that span international borders.
Startups will have access to Mastercard's network of partners, including banks, financial institutions, and technology vendors, as well as its developers, engineers, designers, and product managers, through the hub. The hub will work with nearby colleges to encourage the development of new FinTech talent in addition to offering support for blockchain-based firms.
5. The Dublin hub is the latest in a series of expansions by Mastercard around the world
As part of its effort to connect people, places, and commerce, the corporation is building on decades of technological advancement.
In addition to Dublin, San Francisco, Sydney, Singapore, and Tel Aviv are also home to technological centers for Mastercard, which support its global operations. With time, these centers will also make use of Ireland's robust tech environment to draw in fresh talent from all around Europe and the rest of the world.
According to Caroline Nolan, Chief Customer Officer of Mastercard, Dublin is one of Europe's fastest-growing tech centers with a thriving start-up environment. "Ireland has a wealth of excellent talent, both native and foreign, a competitive cost basis, and a developed legal and financial infrastructure.
- The company will initially hire 75 workers for the new Dublin center and has ambitions to increase that number to 125 over the following few years. Mastercard has already started hiring for this hub and is looking for candidates for a variety of positions listed on its Careers page.
- The Dublin team's objective is fundamentally focused on innovation and cutting-edge technologies. In order to fuel its innovation engine, the company is also looking to hire senior engineers and developers.
- In offices located in Cork, Galway, and Belfast, there are currently close to 150 Mastercard workers stationed in Ireland. Additionally, Mastercard increased its presence in Ireland during the past year by hiring more people and making local investments in technical infrastructure.
Conclusion
For Irish and foreign start-ups, Mastercard has introduced a new accelerator program in Dublin that will concentrate on fintech, big data, and digital marketing.
September 2017 marks the start of the first batch. Dublin has also been formally introduced by Mastercard as its new European Technology Hub. The hub will house Mastercard's Open Talent Accelerator and serve as a basis to recruit talent for Mastercard from all throughout Europe.
The greatest IT hub in Europe, Dublin is believed to have attracted international investment in the 1980s. Over 25,000 people are employed by tech companies in Dublin alone, making it one of the largest technology clusters in Europe today. Dublin-based businesses have already received over $1 billion in investments, and by 2020, that amount is projected to increase to $2 billion.
