The smart approach to managing card programs: why fintechs should partner with a program manager

We understand that the allure of managing your own card program can be strong. However, the reality is that card program management involves a wide range of complex tasks that can distract from your core competencies and business growth. Partnering with a program manager allows you to offload critical elements of card program management to focus on what you do best while leaving the intricacies of card management to the experts. 

Here are 3 key reasons to consider a program-managed approach:

Fintech companies thrive when they can concentrate on their core business activities. However, managing a card program requires specialized skills, from handling bank partner/ BIN sponsor relationships to dealing with technical infrastructure and staying ahead of network and regulatory compliance. By outsourcing card program management, fintechs can focus on enhancing their products and customer experiences and can be assisted with avoiding the distractions of operational details. Allocating your resources to core business functions rather than card management allows fintechs to innovate and stay competitive. Whether it's improving user experiences, developing new features or launching in a new geography, a program manager takes on the operational load, freeing fintechs to invest in their strengths.

And as you find your way with the card program, you can adjust the level of ownership and change what elements you own in-house. The Marqeta model offers flexibility and is designed for long-term partnership and growth.

Launching a card program from scratch requires time, resources, and expertise. By leveraging an established program manager, fintechs can drastically reduce their time to market. With pre-built infrastructure and established processes, program managers enable fintechs to quickly launch their card products without having to reinvent the wheel.

In addition to faster launches, program managers offer strategic guidance, helping fintechs design and implement card programs that are set up for long-term success. This means a smoother rollout and fewer headaches down the road.

In today's regulatory environment, fintechs and their banking partners face increased scrutiny, which means programs can no longer take a "figure it out as we go" stance on risk and compliance. Risk and compliance must be ironclad from the start. Program managers bring the necessary expertise to help ensure that the right people, processes, and tools are in place to address regulatory areas of concern.

Navigating complex regulations like PCI-DSS, AML, and KYC can be daunting for fintechs. Program managers specialize in helping to ensure adherence to these regulatory requirements, helping fintechs to stay compliant without diverting resources from their core business. With their deep knowledge and experience, program managers can help to assist with the compliance and regulatory aspects of card programs, helping to ensure that fintechs adhere to regulatory expectations while focusing on growth and innovation.

While fintech companies can manage their own card programs, partnering with a program manager offers significant advantages, particularly when it comes to risk and compliance. With the partnership of a program manager and their compliance and risk expertise, fintechs can concentrate on their strengths, ensuring both operational efficiency and scalability.

But we don’t set up your card program and just leave you to figure things out on your own. Our dedicated support team is there for you and your cardholders every step of the way. We’re committed to helping you scale your program and conquer new opportunities, providing the guidance and expertise you need to drive growth.

By leveraging the assistance and expertise of a card program manager like Marqeta, fintechs can effectively manage their card programs, adhere to regulatory expectations, and focus on what they do best: innovating and scaling their business.

We created an eBook showcasing our comprehensive card program management capabilities and you can
take a look here.