Mastercard President and CEO Ajay Banga shares his insights on leading and driving growth in a digital-first world, the challenges of cyber security and why a shift towards a cashless society will help drive financial inclusion.
On infusing technology into the business: “Some people think that technology changes very quickly on you. I actually don't believe that. I believe you can see technology changing over a period of time. You may not have figured it out. You may not have not seized it…. It’s not the fault of technology. It’s coming.… So technology is not the issue. It’s your openness to embrace it and your ability to comprehend and yet make quick decisions, but after listening.”
On the cyber threat: “There’s so much in this technology. What could hold it back is the danger of it being misused. The danger of the data being misused is now transparent to everybody…. Unfortunately people take convenience over security; take the ‘cool’ factor over this and they assume that we're keeping them safe and secure – ‘we’ the device manufacturer, ‘we’ the bank, ‘we’ the company, ‘we’ the government – somebody ‘we,’ not them, we. That is a near and clear and present danger.”