Emphasizing its commitment to data advancement and security, Mastercard has named JoAnn C. Stonier as its first chief data officer.
Stonier will oversee the curation, maintenance and management of the company's data assets, as Mastercard views the position as a way to help merchant, banking and government customers and cardholders through data analytics.
Stonier previously served as the company's chief information governance and chief privacy officer.
“Data is foundational to everything we do, from processing transactions to customer analytics to cutting-edge technologies like artificial intelligence,” Kevin Stanton, chief services officer at Mastercard, said in a Thursday press release.
“Our chief data officer will ensure that data is acquired, available, reliable, consistent and accessible in a manner that advances our business and maintains the high level of trust people and our partners have in Mastercard,” Stanton said.
By having a chief data officer in place, Mastercard says it will be able to more fully leverage analytics as a competitive advantage; legitimize data through a strategy that develops definitions, standards and practices for its use; and allow the company to innovate through the use of data management technologies.
“JoAnn’s privacy background coupled with her extensive experience understanding how our data flows and powers our business makes her the ideal candidate to take our company forward,” Stanton added. “Her appointment reflects a thoughtful approach to this new position and to our data innovation overall.”