There’s nothing simple about developing and launching a new card program, and a successful launch relies heavily on a few key factors. We explored this very topic in our recent white paper, Confessions of a card innovator.
One of the key focus areas in the white paper was the importance of strong partner relationships in both the launch and the ongoing operation of a successful card program. And in our recent API Chronicles Livestream, we did a deep dive on this exact topic, inviting seasoned innovators to share their thoughts on the role of relationships in credit card program management.
Wisdom from customer and partner relationship experts in card programs
Sofie Churchill, Enterprise Senior Customer Success Manager at Marqeta hosted the livestream, and she was joined by Chris Holmes, Senior Vice President at KAE; Dante Siracusa, Vice President at Berkeley; and Victoria Martin, an independent compliance consultant who advises both fintechs and large banks.
During their hour-long conversation, our panelists shared their keen perspectives based on deep and broad expertise in the credit card program space. Watch the recording today to check out their insightful answers to questions including:
- What is the right criteria for choosing a partner—whether it’s an issuer, processor, or bank?
- How do you do your due diligence when selecting a partner?
- How do you ensure cultural alignment with a partner?
- What happens when service level agreements (SLAs) aren’t set up for success?
- How do you ensure a partner will support you over the long-term?
- What do you need to know about regulatory standards when working with third-party program managers?
Key quotes from the payment innovation conversation
Can’t wait to discover all of these expert tips? Here’s a sneak peek of the best practices our panelists offered up during our session:
- Chris Holmes: “Know your target audience. It’s critical to understanding the features and benefits they’re being offered. Understand the need for lifestyle rewards versus travel-focused awards versus B2B and the different tiers you have that can add value.”
- Dante Siracusa: “Understand roles and responsibilities across the board. Get aligned on expectations. If you’re not aligned, even on smaller items, it can be detrimental because of how complex and nuanced banking structures are.”
- Victoria Martin: “Have transparent and collaborative conversations with your partners. Make sure they’re on the journey with you.”
Our conversation uncovered so many incredible discussion points that you’re going to want to take a listen to the full recording. Simply follow the link and be sure to bookmark it for future reference (and to rewatch it as many times as you’d like).
Then, reach out to the Marqeta team to learn more about how we can help you build and sustain strong, mutually beneficial partner relationships—an essential ingredient of modern credit card program innovation—for years to come.
