Marqeta (NASDAQ: MQ) has added Evolve Bank & Trust as a new bank partner.
Evolve Bank & Trust is a Banking-as-a-Service (BaaS) provider and thus can boost the portfolio of services Marqeta can offer to its customers. Evolve offers specialized services in Open Banking, Personal and Business Banking, Mortgages and more.
According to a statement by Marqeta, Evolve will support Marqeta’s range of program management capabilities, including BIN management, on-demand fulfillment, compliance reporting and settlement services. With the partnership, customers are expected to be able to accelerate their time to market with the latest in card issuing and processing technology.
Salman Syed, SVP and General Manager of North America, Marqeta, stated:
“We strive to empower our customers’ ability to grow and diversify their businesses through innovative card programs on our platform, and by expanding our bank partnerships, we provide more flexibility and scalability for the future. Given our own focus on digital banking and money movement, Evolve’s dedication to powering fintechs makes them a strategically important partner for us and we’re looking forward to building customer programs together with Evolve.”
Hank Word, President of the Open Banking division at Evolve, said they seek partnerships that align with their values and support their mission of supporting disruptive financial services firms:
“We’re looking forward to a partnership with Marqeta, who closely aligns with this mission, to deliver cutting-edge innovation to card programs.”
Marqeta is a card issuing platform that provides customers with configurable and flexible payment experiences. Marqeta is certified to operate in 39 countries globally.