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Hidden Marqeta currently offers two models of credit program management: Bank and Non-bank. The difference in these models is how the program manager, Marqeta, customer, and issuing bank (for the Non-bank model) integrate with each other.

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Bank program management

In the bank program management model, the issuing bank acts as a program manager for the customer. The bank is therefore referred to as the bank program manager and the customer is referred to as the bank brand contributor. While the bank and customer both integrate with Marqeta’s APIs, the customer contracts directly with the bank. The bank integrates with Marqeta’s APIs to create policies and bundles for the customer’s credit program, and also provides KYC and underwriting on credit applicants. The customer integrates with Marqeta’s APIs for issuing, processing, the system of record, webhooks, and reporting.

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Non-bank program management

In the non-bank program management model, a non-bank business acts as a program manager for the customer. The non-bank business is therefore referred to as the non-bank program manager. The non-bank business brings its own issuing bank and integrates with both the bank and Marqeta’s APIs. It then brings both integrations, on its own platform, to the customer. The non-bank business repackages Marqeta’s APIs for issuing, processing, the system of record, webhooks, and reporting for the customer to use. The issuing bank performs KYC and underwriting on credit applicants, and then passes those decisions to the business, who passes them on to the customer.