Mastercard today announced that Liz Oakes has been appointed as executive vice president of market development, New Payment Platforms.
In her role, Oakes will be responsible for working with governments, central banks, regulators, schemes, retail and commercial banks on the strategic development of real-time payments programs across the globe, in collaboration with regional teams.
“Liz brings a proven skillset to the company including specialist expertise in clearing and settlement, and the development of innovative payment solutions in wholesale, corporate and retail banking,” said David Yates, president of New Payments Platforms for Mastercard. “We are delighted to welcome her back to Mastercard and look forward to her contributions to an already strong team.”
Oakes joins Mastercard from McKinsey & Company, where she was an expert associate partner in its global payments practice. During her tenure, she served financial institutions, payments businesses and investors on strategy, design and implementation of payment systems, regulation including PSD2 and Open Banking, and supported mergers and acquisitions activity.
In 2016, Oakes joined McKinsey from KPMG, where she provided strategic, operational and functional payments advisory services to clients. She has been involved heavily in the development of enhanced data and capabilities for real time payments and the implementation of the ISO 20022 XML messaging standard. Earlier in her career, Oakes worked at Vocalink, now part of Mastercard, most recently driving product management, strategy and customer engagement.
“I am delighted to re-join the organisation at such a pivotal moment in the development of payment infrastructures globally to meet the needs for faster, more efficient systems and flexible architectures that adapt to an Open Banking and API environment,” said Oakes.
Oakes will be based in London and will report directly to David Yates.