LEVERIS partners with Marqeta to bring modern card issuing to its core banking platform
- Banking , Core Banking
- 05.05.2021 10:15 am
Banking technology company LEVERIS has announced its partnership with Marqeta, the global card issuing platform, to integrate its modern card capabilities within the LEVERIS digital banking platform.
The partnership enables LEVERIS to rapidly build, issue and deploy new payment and finance solutions through card products. It will allow banks and non-banks using the LEVERIS platform to provide card users with more control and a greater customer experience when it comes to spending.
With Marqeta’s support, the LEVERIS platform will facilitate the issuance of virtual, physical and digital debit cards for multiple use cases. LEVERIS clients will have the ability to create virtual cards in real-time and push them instantly to mobile wallets. As well as card issuance, the partnership enables greater card parameterisation, fraud mitigation in card transactions and speed to market in a variety of currencies.
Marqeta’s proprietary Just-in-Time (JIT) funding capability provides LEVERIS with full control over transactions, allowing operators using the LEVERIS platform to apply decisioning tools in real-time. A dynamic API centred on spending controls enables them to set card level parameters around card usage, with rules governing merchant categories, frequency of use, cashback, country acceptance, ATM usage and much more.
Commenting on the partnership, Conor Fennelly, founder and CEO at LEVERIS, said: “We are very pleased to announce this partnership with Marqeta. With its support, LEVERIS can help its clients launch new customised card products that have much more flexible controls and features. Both companies share the same vision to use great technology to make banking and financial services better. As LEVERIS continues to scale, this partnership will help us widen our footprint. We look forward to our teams working closely together in the months and years ahead.”
Ian Johnson, SVP, Managing Director, Europe at Marqeta, said: “Marqeta is delighted to be partnering with LEVERIS – a forward-thinking innovator in the digital banking and lending platform space. There’s a close synergy between the two companies with LEVERIS’ ambitions certain to maximise Marqeta’s modern card payment processing technology.”
The LEVERIS platform is entirely software-defined, operates in the cloud and is completely independent of legacy banking technology. As well as offering SaaS to both traditional and challenger banks, LEVERIS provides Banking-as-a-Service (BaaS) to non-financial companies entering the financial services space.
Founded in 2010, Marqeta is a global, modern card issuing platform and supports some of the world’s leading innovators at scale, including Square, Goldman Sachs, J.P. Morgan, Uber, Affirm, Instacart and DoorDash, by providing advanced infrastructure and tools for building highly configurable payment solutions. It is enabled in 36 countries worldwide and by the end of 2020, more than 270 million cards had been issued through the Marqeta platform.
Marqeta is one of several market-leading companies whose services are integrated into the LEVERIS platform, ensuring that it is a complete end-to-end, out-of-the-box proposition. The platform provides financial institutions with a foundation for building and launching, with all the key capabilities needed to run a modern digital bank built-in from the start.