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- April 2022
- Supplement
Mastercard Labs (B)
By: Linda A. Hill, Sunil Gupta, Emily Tedards and Julia Kelley
When Ajaypal (Ajay) Banga became the CEO of Mastercard in 2010, digital technologies were on the rise, and innovation needed to become a strategic imperative at the company. Banga tasked Garry Lyons, who had joined Mastercard through the 2009 acquisition of Orbiscom,...
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Keywords:
Organizational Behavior;
Culture;
Transformation;
Organizational Culture;
Culture Change;
Organizational Adaptation;
Organizational Effectiveness;
Alignment;
Leadership;
Leadership Development;
Innovation;
Innovation Ecosystems;
Diversity;
Collaboration;
Co-creation;
Learning Organizations;
Empowerment;
Ecosystem;
Agility;
Prototype;
Experiment;
Partnerships;
Operating Model;
Risk Management;
Digital Transformation;
Metrics;
Payments;
Financial Industry;
Financial Inclusion;
Ambidexterity;
Corporate Innovation;
Innovation Lab;
Accelerator;
Start-up;
Fintech
- April 2022 (Revised May 2022)
- Case
Mastercard Labs (A)
By: Linda A. Hill, Sunil Gupta, Emily Tedards and Julia Kelley
When Ajaypal (Ajay) Banga became the CEO of Mastercard in 2010, he shifted the company’s competitive focus from card networks to cash itself. Mastercard’s new vision of a “World Beyond Cash” distilled into a three-pronged framework: Grow the core business, Diversify...
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Keywords:
Organizational Behavior;
Culture;
Organizational Culture;
Culture Change;
Organizational Adaptation;
Organizational Effectiveness;
Alignment;
Leadership;
Leadership Development;
Innovation;
Innovation Ecosystems;
Ecosystem;
Diversity;
Collaboration;
Co-creation;
Learning Organizations;
Empowerment;
Globalization;
Agility;
Prototype;
Experiment;
Partnerships;
Operating Model;
Risk Management;
Metrics;
Payments;
Financial Inclusion;
Financial Industry;
Ambidexterity;
Corporate Innovation;
Innovation Lab;
Digital Transformation
- April 2022 (Revised May 2022)
- Case
Mastercard Labs (A) (Abridged)
By: Linda A. Hill, Sunil Gupta, Emily Tedards and Julia Kelley
When Ajaypal (Ajay) Banga became the CEO of Mastercard in 2010, he shifted the company’s competitive focus from card networks to cash itself. Mastercard’s new vision of a “World Beyond Cash” distilled into a three-pronged framework: Grow the core business, Diversify...
View Details
Keywords:
Organizational Behavior;
Culture;
Organizational Culture;
Culture Change;
Organizational Adaptation;
Organizational Effectiveness;
Alignment;
Leadership;
Leadership Development;
Innovation;
Innovation Ecosystems;
Diversity;
Collaboration;
Co-creation;
Learning Organizations;
Empowerment;
Ecosystem;
Agility;
Prototype;
Experiment;
Partnerships;
Operating Model;
Risk Management;
Metrics;
Payments;
Financial Inclusion;
Financial Industry;
Ambidexterity;
Corporate Innovation;
Innovation Lab;
Accelerator;
Start-up;
Intrapreneurship;
Competitive Strategy;
Business Model;
Technological Innovation;
Growth and Development Strategy;
Digital Transformation
- March 2022
- Case
In Data We Trust: Be Mobile Africa and Furthering Financial Inclusion Across the African Continent
By: Lauren Cohen, Grace Headinger and Pierre Marchesseault
To Cédric Jeannot, leveraging technology to promote financial inclusion was personal. After no established financial institution would accept his technology platform to lower transaction costs for free, Jeannot launched FinTech company Be Mobile Africa in May 2020....
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Keywords:
Finance;
Fintech;
Emerging Market;
Fundraising;
Financial Inclusion;
Strategy;
Expansion;
Management;
Entrepreneurship;
Personal Finance;
Corporate Social Responsibility and Impact;
Growth and Development Strategy;
Financial Services Industry;
Financial Services Industry;
Africa;
Togo;
Nigeria;
Ghana
- December 2021
- Case
The Instant Payment Mandate: The Central Bank of Brazil and Pix
By: Lauren Cohen and Spencer C. N. Hagist
João M. P. De Mello and his team at the Central Bank of Brazil are preparing a move that would seek to tilt the scales in favor of financial inclusion for the entire country. The innovation at hand is the unprecedented nation-wide instant payment scheme: Pix. The fruit...
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- November 2021
- Article
Borrower Leakage from Costly Screening: Evidence from SME Lending in Peru
By: Irani Arraiz, Miriam Bruhn, Benjamin N. Roth, Claudia Ruiz-Ortega and Rodolfo Stucchi
We provide evidence that commercial lenders in Peru suffer leakages in their loan approval process. Leveraging a discontinuity in the loan approval process of a large bank, we find that receiving a loan approval from the bank causes loan applicants to receive offers...
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- September 2021
- Teaching Note
Migrante: Using Tech to Provide Financial Inclusion to Immigrants
By: Boris Vallée and Mauricio Larrain
Teaching Note for HBS Case No. 221-108.
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- July 2021
- Case
Migrante: Using Tech to Provide Financial Inclusion to Immigrants
By: Boris Vallee and Mauricio Larrain
Keywords:
Chile
- April 2021
- Case
JPMorgan Chase's Path Forward
By: Joseph L. Bower, Nien-hê Hsieh and Michael Norris
In 2020, JPMorgan Chase announced a $30 billion Commitment to Advance Racial Equity. The Commitment included investments in housing, small businesses, and financial literacy across the U.S., and diversity, equity, and inclusion within the bank. It was part of a broader...
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- April–May 2021
- Article
The Influence of Loan Officers on Loan Contract Design and Performance
By: Robert Bushman, Janet Gao, Xiumin Martin and Joseph Pacelli
We investigate the extent to which loan officers generate independent, individual effects on the design and performance of syndicated loans. We construct a large database containing the identities of loan officers involved in structuring syndicated loan deals, allowing...
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- Article
Reimagining the Balanced Scorecard for the ESG Era
By: Robert S. Kaplan and David McMillan
Companies are increasingly aware that their customers and society in general expect businesses to adopt and work towards social and environmental objectives as well as the traditional financial ones. This involves not only re-evaluating firms’ models but re-imagining...
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- 2020
- Working Paper
Accounting for Product Impact in the Consumer Finance Industry
By: George Serafeim and Katie Trinh
We apply the product impact measurement framework of the Impact-Weighted Accounts Initiative (IWAI) in two competitor credit card providers within the consumer finance industry. We design a monetization methodology that allows us to calculate monetary impact estimates...
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Keywords:
Product Innovation;
Impact;
Impact Investing;
Impact Measurement;
ESG;
ESG (Environmental, Social, Governance) Performance;
ESG Ratings;
Social Corporate Responsibility;
Corporate Social Responsibility;
Social Impact;
Consumer Finance;
Financial Services;
Financial Inclusion;
Product;
Product Design;
Product Positioning;
Society;
Corporate Social Responsibility and Impact;
Personal Finance;
Credit Cards;
Financial Services Industry
- September 2020 (Revised December 2021)
- Case
Building India's 2.0: PayNearby
By: Lauren Cohen and Spencer C. N. Hagist
Headquartered in Mumbai, India, FinTech startup Nearby Technologies has seen its flagship brand, PayNearby, rapidly flourish across most of its target market within just four years. The unprecedented success of its payment app, which allows users to access banking...
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- September 2020
- Teaching Plan
Harlem Capital: Changing the Face of Entrepreneurship
By: George Serafeim
Jarrid Tingle and Henri Pierre-Jacques had spent the summer between their first and second years of their MBA program fund raising for their start-up venture capital (VC) firm, Harlem Capital Partners. Harlem Capital was founded upon the principle that addressing the...
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Keywords:
Venture Capital Firm Compensation;
Entrepreneurial Finance;
Entrepreneurial Financing;
Black Entrepreneurs;
Black Leadership;
Black Inventors;
Inclusion;
Minority-owned Businesses;
Race And Ethnicity;
Race Characteristics;
Entrepreneurship;
Venture Capital;
Diversity;
Race;
Gender;
Mission and Purpose;
Social Enterprise;
Financial Services Industry;
United States
- September 2020
- Teaching Note
Mary Guerrero and the Advancement of Latinx Talent: Developing an Employee Resource Group at a Top Tier Bank (A) and (B)
By: Rosabeth Moss Kanter and Amy Hernandez Turcios
Teaching Note for HBS Case Nos. 321-017 and 321-018.
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- August 2020 (Revised January 2021)
- Case
Nubank: Democratizing Financial Services
By: Michael Chu, Carla Larangeira and Pedro Levindo
Nubank, a wholly-digital solution created to disrupt Brazilian banking, with 6 million clients and a $4 billion valuation after five years, must decide whether to expand to Mexico. The company was founded in São Paulo in 2013 by Colombian-born David Vélez to seize what...
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- August 2020 (Revised May 2021)
- Case
PayPal: The Next Chapter
By: Michael Porter, Mark Kramer and Annelena Lobb
Can a social purpose and stakeholder capitalism confer a powerful competitive advantage in the age of COVID-19? For PayPal, the answer is yes. After spinning off from eBay in a 2015 IPO, the company declared its purpose as "democratizing financial services" by ensuring...
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- August 2020
- Case
Mary Guerrero and the Advancement of Latinx Talent: Developing an Employee Resource Group at a Top Tier Bank (A)
By: Rosabeth Moss Kanter and Amy Hernandez Turcios
Mary Guerrero was a first-generation Latina and an investment banking analyst at a top tier bank on Wall Street—Bulge Bracket Bank (BBB). She was committed to increasing representation of Latinx talent at her firm. She was already doing a lot of individual work to make...
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- August 2020
- Supplement
Mary Guerrero and the Advancement of Latinx Talent: Developing an Employee Resource Group at a Top Tier Bank (B)
By: Rosabeth Moss Kanter and Amy Hernandez Turcios
Mary Guerrero decided to pursue the challenging road and kicked off Hispanic/Latinx Advancement and Career Engagement (HACE) at her Bulge Bracket Bank (BBB). For Mary, her larger purpose was to advance Latinx talent in the U.S. because she believed it was important for...
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- May 2020
- Case
Trust Merchant Bank
By: Ramon Casadesus-Masanell, Pippa Tubman Armerding, Dilyana Karadzhova Botha and Salim Dewji
Trust Merchant Bank (TMB), a leading bank in the Democratic Republic of Congo (DRC), needs to decide whether to enter the soon-to-be-liberalized insurance industry. Since its founding in 2004, TMB has played a pivotal role in reshaping the DRC banking landscape by...
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Keywords:
Retail Banking;
Financial Services;
Financial Inclusion;
Turnaround;
Fintech;
Banks and Banking;
Financial Condition;
Insurance;
Corporate Strategy;
Expansion;
Business Model;
Family Business;
Entrepreneurship;
Information Technology;
Monopoly;
Banking Industry;
Insurance Industry;
Africa;
Congo, Democratic Republic of the