Marqeta Expands Credit Platform with 40 New APIs

Card-issuing platform Marqeta is expanding its dashboard with over 40 new application programming interfaces (APIs) so its clients can develop and test individualized credit card experiences, according to a press release emailed to PYMNTS on Tuesday (June 28).

Marqeta’s credit platform offers its clients the added option of tapping into the program management and banking capabilities of the First National Bank of Omaha (FNBO). Marqeta’s API now connects to FNBO’s decisioning engine, providing Marqeta’s clients with the ability to offer their customers instant credit decisions.

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“Launching credit card programs has historically been time-consuming and inflexible, especially for large banks, requiring months of manual configuration before development could even begin. And once cards were in the market, it was often extremely difficult to make any changes to rewards or the customer experience once development was complete,” said Marqeta CTO Randy Kern.

“We’ve brought the power of modern card issuing to the credit card market to bring much-needed innovation and give our customers increased agility to respond to rapidly changing consumer demands,” Kern said.

Read more: Marqeta Partners With Western Union for Digital Banking in Europe

Kern added that the new features offered with FNBO leverage APIs to give customers card programs with fast onboarding that are digital-first and personalized.

“In addition, when consumer preferences change, these card programs can be seamlessly updated to meet users’ new expectations,” he added.

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Marqeta’s new competencies and expanded APIs enable FinTechs, brands and banks to embed a native card experience. Marqeta’s no-code workflow enables clients to customize central features like APR and rewards, along with built-in approval and compliance checks. Marqeta’s rewards tools enable various mix-and-match possibilities across merchant category spend and cardholder behaviors.

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“FNBO has been a pioneer in the credit card landscape for decades, and by partnering with Marqeta, we continue to modernize our offering to go after new markets and support new brands that are on the forefront of financial services innovation,” said Marc Butterfield, SVP, Innovation & Disruption for FNBO.