Mastercard Adds to Payments Platforms Development Team

Mastercard has 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.

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. Oakes will be based in London and will report directly to David Yates.