Fintech Card Programs: Partners, Threats, and Drivers of Innovation

Report Summary

Fintech Card Programs: Partners, Threats, and Drivers of Innovation

Like other industries, traditional financial institutions are amid a moment of disruption.

David Shipper
Strategic Advisor

March 16, 2023 – Fintech card programs often offer the most cutting-edge or creative functionalities. These programs are launching products with future innovations in mind on platforms that are more up-to-date and agile than the platforms that many, if not most, legacy card issuers use. This allows them to include cutting-edge card features at launch and add innovations quickly thereafter. Legacy FIs have benefited from the fact that it is difficult to switch banking relationships. At some point, a new feature or benefit will come along that will be so groundbreaking that consumers will demand it faster than legacy FIs can react, creating a watershed moment of change.

This report provides an overview of various trends occurring among fintech card programs that players in the space should consider and consider implementing where it makes sense. It also highlights how legacy FI’s can partner with these new companies and the risks and rewards of doing so. Aite-Novarica Group used existing research and expertise, data analysis using existing Aite-Novarica Group data sets, and reliable public sources to develop this report, along with the author’s experience managing card programs at FIs in the U.S.

Clients of Aite-Novarica Group’s Retail Banking & Payments service can download this report.

This report mentions ABLEnow, Abra, ACI Worldwide, Adyan, Affirm Debit+, AFNO, Akoya, Alpine, Alviere, Apto Payments, Arise Money, Aspiration, Atome, Aven, Bankable, BitPay, Blanch, Blue Ridge Bank, Bond, BPC, Brim Financial, Buff, BusyKid, Capital One, Carbon Zero, Cascade Financial Technology Corp., Cash App, Celcius, Celtic Bank, Centurion Invest, Cheese, Chime, Choice Financial Group, Coastal Community Bank, Column, Community Federal Savings Bank, Comun, Copper, Corserv, Credit Sesame, Cross River Bank, Curve, Cuscal, DC Bank, Deserve, Enfuce, Enzo, Episode 6, Evolve Bank & Trust, Finicity, FinMV, FIS, Fiserv, Flutterwave, FNBO, Fold, Fortú, FSS, Galileo, Gerald, GoDo, GoHenry, Greenlight, Greenwood, Grind24, Grit, Guava, Hatch Bank, Highnote, Hightop, HPS, H-Way, Hydrogen, Hyperface, i2c, InstantPay, Intercash, Intergiro, Interswitch, Jack Henry & Associates, JPay, Juice, Karat, Kikoff, Kinesis, Krowdfit, Lightning, Litecoin, LVL, M1, Mana, Manigo, Marqeta, Mastercard, Mazoola, Metropolitan Bank, Moon, Moov, Moves, MVB Bank, NBKC Bank, New York Community Bank, Nexo, Nium, NovoPayment, Nymbus, NymCard, Onyx, OpenWay, Optherium, Optimus, Paceline, Pana, Pathward, PayPal, PayPugs, Petal, Piermont Bank, Pismo, Plaid, PODERcard, Possible, Power (acquired by Marqeta), Primax, Purewrist, Purple, Q2, Qolo, Quontic, QuyanaCARD, Railsr, Ramsden, Rapyd, Razer, Salt Lending, Seneca Women, Sequin, Simplifi, Solaris, Solid, Spiral, Stash, Status, Step, Stoovo, StoreCash, Stride Bank, Stripe, Sunbit, Sutton Bank, Switch, Synapse, Tallied, TietoEVRY, Till, Tomo, Transcard, Treasury Prime, Treecard, Tribe, TSYS, Tymit, Unbanked, Unbanked, Une Femme, Unit, Unlimint, Venmo, Visa, Wahed, Wallester, Walletmor, WalrusTeens, Weavr, Wingocard, Wise, Worldline, WSFS Bank, Zeta, Zilch, Zolve, and X1.

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