Marqeta expands credit platform with dashboard and APIs

Rick Steves

“With these new features offered with FNBO, our customers have a much more intuitive experience and can leverage APIs to design compelling card programs with personalized rewards, digital-first experiences, and fast onboarding.”

Marqeta has expanded its credit platform with a new dashboard and over 40 new credit APIs that enable customers to design, test, and launch differentiated credit card experiences.

Customers also have the option to leverage First National Bank of Omaha (FNBO)’s program management and banking capabilities alongside these new features.

The new credit capabilities allow fintechs, brands and banks to integrate directly to Marqeta’s APIs and leverage its dashboard and workflows to design and embed a native credit card experience.

Modern card issuing capabilities offered in partnership with FNBO

Randy Kern, Chief Technology Officer, Marqeta, said: “Launching credit card programs has historically been time-consuming and inflexible, especially for large banks, requiring months of manual configuration before development could even begin. And once cards were in the market, it was often extremely difficult to make any changes to rewards or the customer experience once development was complete.

“We’ve brought the power of modern card issuing to the credit card market to bring much needed innovation and give our customers increased agility to respond to rapidly changing consumer demands. With these new features offered with FNBO, our customers have a much more intuitive experience and can leverage APIs to design compelling card programs with personalized rewards, digital-first experiences, and fast onboarding. In addition, when consumer preferences change, these card programs can be seamlessly updated to meet users’ new 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 go after new markets and support new brands that are on the forefront of financial services innovation. We’re proud to work with Marqeta to help bring customizable and flexible credit card products that can set a new standard for what a credit card can be, and look forward to unlocking even more potential with our industry-leading program management capabilities through continued partnership with Marqeta.”

Key new features of Marqeta’s credit platform include:

  • Intuitive dashboard experience: A groundbreaking ‘no code’ workflow will enable customers to configure key parameters of their card such as APRs, rewards, and fees, with built-in approval and compliance checks, allowing businesses to launch cards more quickly and with more control than with legacy solutions;
  • Flexible rewards engine: Marqeta’s rewards tools allow customers to expand 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, like on-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 into a crypto or investing account on their own platform or for making an on-time payment to encourage healthy financial habits;
  • Streamlined authorization with gateway Just-in-Time (JIT) funding: Marqeta’s credit platform also now comes with its industry-leading gateway JIT feature, allowing businesses to participate in the authorization of credit transactions. This unlocks unique spend use cases such as declining recurring subscription spend, converting purchases to installment loans, or extending additional credit beyond a user’s current credit limit;
  • Instant decisioning: Customers can now provide their users an instant credit decision via Marqeta’s API connection to FNBO’s decisioning engine.

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