Executives from the bank and the tech company have been working for months to create a cloud designed to address the challenges that often slow financial institutions' adoption of cloud computing.
An e-wallet in development would give tech companies the ability to provide millions of customers virtual bank accounts and to offer perks such as car loans or discounts on home rentals to those who keep money stashed there.
The financial services industry has struggled with how best to explain privacy and data-sharing practices to customers. Mastercard is offering a new framework.
