Skaleet partners with Marqeta to extend card issuing and processing capabilities

By Joy Dumasia

Skaleet, a French FinTech providing a next-generation Core Banking Platform (CBP), announced a new partnership with Marqeta, the global modern card issuing platform, to enrich its existing ecosystem.

According to the European Central Bank, the number of cards carried per inhabitant in EU member countries ranges from 0.8 to 3.91. And for many financial institutions, offering credit/debit cards is now a necessity. But between virtual cards, customizable cards, price transparency, fraud reduction, or using a lower-cost credit card program, financial institutions must be able to choose the best solutions without repercussions or additional costs for customers. Faced with these technological and business challenges, Skaleet chose a partner that could offer to current and future customers a turnkey solution covering core banking and card issuance.

Skaleet enables financial institutions to launch new banking products and experiences at a competitive price. Through its open, modular, and flexible CBP, Skaleet offers customers increased customization of its solution in a limited time. Founded in 2010, Marqeta is focused on simplifying payment transactions and provides a scalable and reliable platform for customers across industries. Enabled in 39 countries in EMEA, APAC and North America, Marqeta is a modern card issuing platform and has enabled the development and launch of innovative and reliable payment solutions through its open APIs.

The partnership between Skaleet and Marqeta is manifold. From a technology perspective, Marqeta’s application programming interface (or API) is integrated into Skaleet’s platform. As a result, Skaleet can leverage Marqeta’s API to create cards, manage authorization, and process cards to accelerate time to market, reduce technical resource requirements, and lower launch costs for financial institutions. Skaleet is expanding its capabilities through this collaboration, as customers can now leverage Marqeta’s technology to create and launch innovative card programs through pre-built integration.

Both companies share values focused on transparency, people, cutting-edge technology, and a Best-of-Breed approach. Providing open access to technology is the best way to support mutual growth and deliver better experiences to both companies’ end users. Their shared approach to Best-of-Breed encourages them to surround themselves with rapidly deployable products and services to address the new ways customers are using technology. Their ultimate goal is to support their joint customers in Europe and beyond and enable them to continue to disrupt the financial services industry.

Vidya Peters, Chief Operating Officer at Marqeta, said: “We saw a seamless cultural and technical fit between our two organizations. We are thrilled to be working with Skaleet to help their current and future European customers develop innovative card programs.”

Hervé Manceron, CEO and Co-Founder of Skaleet, concluded: “Today, it is essential for financial institutions to be able to innovate quickly and adapt to change. The ecosystem we have built relies on expert partners who are aware of this issue. We are delighted to integrate Marqeta as the first global card issuing processor sharing the same values as ours.”