MasterCard announced on Friday (December 21) that it has appointed Liz Ock, the new executive vice president of market development for the new payment platform team.
Oakes will work with a variety of entities – governments, regulators, central banks, schemes, commercial banks and shops. In collaboration with regional Mastercard teams, will deal with the strategic development of real-time payment programs around the world.
David Yates, head of MasterCard's new payments platforms, said he was very excited about the hire.
"Liz offers a set of proven skills for the company, including specialized clearing and settlement expertise, and the development of innovative payment solutions for corporate, institutional and retail banking," said Yates. "We are delighted to welcome back to MasterCard and look forward to their contributions to a truly strong team."
Oakes arrived at the Mastercard from McKinsey & Company, where she worked as an associate assistant expert in the practice of global payments for the company. While there, I worked with financial institutions, payment companies and investors on strategy. It has designed and implemented payment and regulatory systems, including PSD2 and open banking. Prior to that, Oakes was with KPMG, providing financial advisory services to clients. She also worked at Vocalink, which is now part of the Mastercard.
MasterCard says Oakes is well aware of data development and enhanced real-time payment capabilities and the implementation of the ISO 20022 XML messaging standard.
Oaks said it was prepared to meet the challenges of its new role. It will be based in London and will report directly to Yates.
"I am delighted to rejoin the organization at this pivotal moment in the development of global payment infrastructure to meet the needs of the fastest, most efficient systems and flexible structures that adapt to an open banking environment and API environment," she said.