Today, we announced the addition of Evolve Bank & Trust as a new bank partner to offer additional solutions for customers that take advantage of our full program management capabilities. Evolve is a technology-focused bank that works with a diverse portfolio of fintech companies to provide a range of services, including a dedicated Open Banking division in which they offer innovative “Banking as a Service” (BaaS) payment and technology solutions.
As a bank partner for our platform in the U.S., Evolve will support the full range of our program management capabilities, including BIN management, on-demand fulfillment, compliance reporting and settlement services as a customer is guided through onboarding to launch a program in-market. Customers will benefit from Marqeta and Evolve’s expertise, enabling them to accelerate time to market and implement a card program using the latest in card issuing and processing technology through this partnership.
“As an experienced fintech sponsor bank, we seek partnerships that align with our values and support our mission of helping forward-thinking, disruptive companies expand their financial capabilities to accelerate their growth,” said Hank Word, President of the Open Banking division at Evolve. “We’re looking forward to a partnership with Marqeta, who closely aligns with this mission, to deliver cutting-edge innovation to card programs.”
The addition of Evolve into the stable of bank partners that we have deployed allows Marqeta to find the best match for a customer’s specific needs, streamline operations, and ultimately derive more value for each customer program.