Torpago and Marqeta will energy Sunwest Financial institution’s Sunwest Visionary Card.
The brand new business bank card and expense administration resolution will leverage Marqeta’s trendy card issuing API, in addition to Torpago’s white-labeled card program resolution, Powered By.
The added card program is anticipated to assist Sunwest generate new earnings streams, appeal to deposits, and enhance working effectivity.
Two companions within the company card house, Marqeta and Torpago, lately introduced they are going to energy Sunwest Financial institution’s Sunwest Visionary Card, the financial institution’s business bank card and expense administration resolution.
Sunwest’s bank-branded bank card program will leverage Marqeta’s trendy card issuing API, in addition to Torpago’s Powered By, a white-labeled card program resolution that goals to assist banks improve their present card and expense administration choices.
Torpago mentioned that Sunwest considers the cardboard program modernization effort as a “progress engine.” The San Francisco-based firm expects that providing company card merchandise beneath the Sunwest model will assist the financial institution each deepen present buyer relationships and appeal to new enterprise.
“By equipping Sunwest with a robust know-how platform, we count on Sunwest to generate new earnings streams, appeal to deposits and enhance working effectivity.” mentioned Torpago CEO and Founder Brent Jackson. “Working with Sunwest and Marqeta has been implausible and we’re thrilled to be the engine behind the Visionary Card.”
Torpago was based in 2019 and affords a variety of bank-branded, low-code/no-code applied sciences, together with mortgage origination and underwriting, card issuing and achievement, fraud monitoring, net and cell apps, expense administration instruments, third-party integrations, and account servicing. The corporate additionally offers companies for compliance, cardholder assist, and collections.
Torpago’s card issuing, spend controls, and card achievement accessible through Marqeta’s APIs. Oakland, California-based Marqeta helps organizations difficulty credit score and debit playing cards, pay as you go playing cards, digital playing cards, in addition to digital wallets. Builders can use Marqeta’s APIs to difficulty playing cards, fund accounts, handle funds, and extra.
“Marqeta is proud to associate with Torpago to offer Sunwest the instruments it must construct a very differentiated resolution from the bottom up, enabling Sunwest to customise its card program and ship a extremely personalised and easy expertise for his or her cardholders,” mentioned Marqeta Chief Income Officer Todd Pollak.
For its a part of the deal, Sunwest is accountable for buying prospects for its Visionary Card and will probably be leveraging its personal steadiness sheet. The financial institution was based in 1969 and presently has greater than $2.7 billion in belongings. Headquartered in Sandy, Utah, Sunwest and has places of work in California, Arizona, Idaho, Utah, and Florida.
Photograph by Tiger Lily
