“With these new features offered with FNBO, our customers benefit from a much more intuitive experience and can leverage APIs to design engaging card programs with personalized rewards, digital experiences and rapid onboarding.”
Marqeta has expanded its credit platform with a new dashboard and over 40 new credit APIs that allow customers to design, test and launch differentiated credit card experiences.
Customers also have the option to take advantage of First National Bank of Omaha’s (FNBO) program management and banking capabilities alongside these new features.
The new credit capabilities allow fintechs, brands and banks to integrate directly with Marqeta’s APIs and leverage its dashboard and workflows to design and integrate a native credit card experience.
Randy Kern, Chief Technology Officer at Marqeta, said, “Launching credit card programs has always been long and inflexible, especially for large banks, requiring months of manual configuration before development can even begin. And once the cards hit the market, it was often extremely difficult to make changes to the rewards or customer experience after development was complete.
“We have brought the power of modern card issuance to the credit card market to deliver much-needed innovation and give our customers increased agility to meet rapidly changing consumer demands. With these new features offered with FNBO, our customers benefit from a much more intuitive experience and can leverage APIs to design engaging card programs with personalized rewards, digital experiences, and fast onboarding. Additionally, when consumer preferences change, these card programs can be seamlessly updated to meet new user expectations.
Marc Butterfield, SVP, Innovation & Disruption for FNBO, said, “FNBO has been a pioneer in the credit card landscape for decades, and by partnering with Marqeta, we continue to modernize our offering to capture new markets and supporting new brands that are at the forefront of innovation in financial services. We are proud to work with Marqeta to bring customizable and flexible credit card products that can set a new standard for what a credit card can be, and we look forward to unlocking even more potential with our management capabilities. cutting-edge program through ongoing partnership. with Marqueta.
Key new features of Marqeta’s credit platform include:
- Intuitive Dashboard Experience: A revolutionary “no-code” workflow will allow customers to configure key card settings such as APRs, rewards and fees, with built-in approval and compliance controls, enabling businesses to launch cards faster and with more control. than with legacy solutions;
- Flexible rewards engine: Marqeta’s rewards tools allow customers to go beyond the traditional cash back rewards that are common in the market today. Customers can mix and match rewards based on merchant category spend and various cardholder behaviors, such as one-time payments. This allows them to implement new rewards options in real time, creating more opportunities for increased spend. For example, customers can reward users by investing in a crypto or investment account on their own platform or by making a payment on time to encourage healthy financial habits;
- Simplified authorization with just-in-time (JIT) gateway financing: Marqeta’s credit platform also now comes with its industry-leading JIT gateway feature, allowing businesses to participate in the authorization of credit transactions. This opens up one-time spending use cases such as lowering recurring subscription spending, converting purchases into installment loans, or granting additional credit beyond a user’s current credit limit. ;
- Instant decision: Clients can now provide their users with an instant credit decision via Marqeta’s API connection to FNBO’s decision engine.