Raiffeisen Centrobank Turns to Marqeta to Power New Digital Bank Offering
Marqeta’s global modern card issuing platform will enable Raiffeisen to deliver a flexible, fast and comprehensive digital banking suite for customers across Europe.
LONDON–(BUSINESS WIRE)–Marqeta (NASDAQ: MQ), the global modern card issuing platform, today announced a partnership with Raiffeisen Centrobank to power the new brand Raiffeisen Digital Bank, enabling customers in Poland and Romania to leverage a modern, comprehensive banking experience with streamlined digital accounts and debit cards.
Building from Marqeta’s global modern card issuing platform, Raiffeisen Centrobank developers will be able to benefit from Marqeta’s speed and scale to build a new digital banking service on a fast-tracked timeline and accelerate roll out of the product in various European markets. Raiffeisen Centrobank will be able to benefit from Marqeta’s transparent approach to integration and comprehensive open APIs, with plans to create an end-product with modern design and delivery. Customers of the new brand Raiffeisen Digital Bank will be able to access their accounts through mobile devices, have access to contactless phone and card payments and easily keep track of transactions.
“We have seen growing demand for simple digital banking products with the instant reaction time over the last years from consumers in our regions,” said Alexey Kapustin, Member of the Board of Management at Raiffeisen Centrobank. “To address these needs we have built the modular modern banking engine where we have leveraged one of the best cloud solutions on the market. By partnering with Marqeta, we are excited to deliver innovative digital card products that address these emerging customer needs.
“More large financial institutions are finding a need for innovative and flexible banking solutions to keep up with customer demand,” said Jeff Parker, SVP and Managing Director, International at Marqeta. “We’re proud to partner with Raiffeisen Centrobank to complement their existing suite of products with the latest tools and functionality that consumers are seeking from their banks today. We look forward to supporting their continued growth, and helping them move their business forward.”
About Marqeta (NASDAQ: MQ)
Marqeta’s modern card issuing platform empowers its customers to create customized and innovative payment cards. Marqeta’s modern architecture gives its customers the ability to build more configurable and flexible payment experiences, accelerating time-to-market and democratizing access to card issuing technology. Marqeta’s open APIs provide instant access to highly scalable, cloud-based payment infrastructure that enables customers to launch and manage their own card programs, issue cards and authorize and settle payment transactions. Marqeta is headquartered in Oakland, California and is certified to operate in 39 countries globally. For more information, visit www.marqeta.com, Twitter and LinkedIn.
This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements expressed or implied in this press release include, but are not limited to, quotations and statements relating to changing consumer preferences; increasing consumer adoption of certain digital payment methods, products, and solutions; which payment, banking, and financial services products and solutions may succeed; technological and market trends; Marqeta’s business; Marqeta’s products and services; and statements made by Marqeta’s senior leadership. Actual results may differ materially from the expectations contained in these statements due to risks and uncertainties, including, but not limited to, the following: any factors creating issues with changes in domestic business, market, financial, political and legal conditions; the effect of and uncertainties related to the global COVID-19 pandemic on U.S. and global economies and demand for Marqeta’s services and products; the uncertainties and direct and indirect effects of the significant military action against Ukraine launched by Russia, including threats of attacks against U.S. and European financial institutions as retaliation against financial institutions for sanctions imposed against Russia; the risk that Marqeta is unable to further attract and grow its customer base; the risk that consumers will not perceive the benefits of Marqeta’s products and services, including digital payment and banking products and services; the risk that Marqeta’s products and services do not operate as intended, including digital payment and banking products and services; the risk that Marqeta’s products and solutions will not achieve the expected market acceptance, including digital payment and banking products and services; and the risk that competition could reduce expected demand for Marqeta’s products and services, including digital payment and banking products and services. Detailed information about these risks and other factors that could potentially affect Marqeta’s business, financial condition and results of operations are included in the “Risk Factors” disclosed in Marqeta’s Annual Report on Form 10-K for the year ended December 31, 2021, as such risk factors may be updated from time to time in Marqeta’s periodic filings with the SEC, available at www.sec.gov and Marqeta’s website at http://investors.marqeta.com. The forward-looking statements in this press release are based on information available to Marqeta as of the date hereof. Marqeta disclaims any obligation to update any forward-looking statements, except as required by law.