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Torpago and Marqeta will energy Sunwest Financial institution’s Sunwest Visionary Card.
The brand new business bank card and expense administration resolution will leverage Marqeta’s trendy card issuing API, in addition to Torpago’s white-labeled card program resolution, Powered By.
The added card program is predicted to assist Sunwest generate new revenue streams, entice deposits, and enhance working effectivity.
Two companions within the company card house, Marqeta and Torpago, not too long ago introduced they’ll energy Sunwest Financial institution’s Sunwest Visionary Card, the financial institution’s business bank card and expense administration resolution.
Sunwest’s bank-branded bank card program will leverage Marqeta’s trendy card issuing API, in addition to Torpago’s Powered By, a white-labeled card program resolution that goals to assist banks improve their current card and expense administration choices.
Torpago stated that Sunwest considers the cardboard program modernization effort as a “development engine.” The San Francisco-based firm expects that providing company card merchandise below the Sunwest model will assist the financial institution each deepen current buyer relationships and entice new enterprise.
“By equipping Sunwest with a strong know-how platform, we count on Sunwest to generate new revenue streams, entice deposits and enhance working effectivity.” stated Torpago CEO and Founder Brent Jackson. “Working with Sunwest and Marqeta has been unbelievable and we’re thrilled to be the engine behind the Visionary Card.”
Torpago was based in 2019 and affords a variety of bank-branded, low-code/no-code applied sciences, together with mortgage origination and underwriting, card issuing and achievement, fraud monitoring, internet and cell apps, expense administration instruments, third-party integrations, and account servicing. The corporate additionally offers companies for compliance, cardholder assist, and collections.
Torpago’s card issuing, spend controls, and card achievement out there through Marqeta’s APIs. Oakland, California-based Marqeta helps organizations concern credit score and debit playing cards, pay as you go playing cards, digital playing cards, in addition to digital wallets. Builders can use Marqeta’s APIs to concern playing cards, fund accounts, handle funds, and extra.
“Marqeta is proud to associate with Torpago to offer Sunwest the instruments it must construct a really differentiated resolution from the bottom up, enabling Sunwest to customise its card program and ship a extremely customized and clean expertise for his or her cardholders,” stated Marqeta Chief Income Officer Todd Pollak.
For its a part of the deal, Sunwest is chargeable for buying prospects for its Visionary Card and might be leveraging its personal steadiness sheet. The financial institution was based in 1969 and at present has greater than $2.7 billion in property. Headquartered in Sandy, Utah, Sunwest and has workplaces in California, Arizona, Idaho, Utah, and Florida.
Picture by Tiger Lily
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