Artificial Intelligence Is An Opportunity

Michael Fraccaro, Chief Human Resources Officer of MasterCard shares his insights on integration of business and talent strategies, automation in financial institutions, and issues of cyber security.

- Shalini Sengupta

Michael Fraccaro is the Chief Human Resources Officer of MasterCard. He joined MasterCard in 2012 as Executive Vice President of Human Resources for the company’s Global Products and Solutions (GP&S) business. In this role, he supported the company’s growth in key businesses and markets, and optimized talent programs along with being responsible for leading the global HR integration of new acquisitions and joint ventures. Prior to joining MasterCard, Fraccaro was a core member of the HR leadership team at HSBC Group for nearly 12 years.

Fraccaro holds a Masters of Applied Science, Communication Management from the University of Technology, Sydney, and a Bachelor of Education from the Australian Catholic University.

What are the pillars of MasterCard’s business strategy?

We have three verticals or pillars of strategy. The first is “Grow”, which is how we grow the core of our business, that is, our core products — debit, credit, prepaid and commercial. We focus on the things that really generate revenue and which allow us to invest in different parts of the business. The second part is what we call “Diversify”, in which we look at new markets that we want to operate in or new segments of operations. And the third part of the business strategy is what we call “Build”, which is building new businesses for the future including our consulting business or our day-to-day businesses. So these are the three core elements of our business strategy.

How have you integrated your business strategy with the people strategy?