Marqeta joins Temenos MarketPlace to enable banks to access its card-issuing platform
By Edlyn Cardoza
Temenos, the banking software company, recently announced that modern card issuing and payment processing platform Marqeta has joined the Temenos MarketPlace, a renowned ecosystem of FinTech solutions for banks running on the world’s #1 digital and core banking platform.
Marqeta powers some of the worlds’ most innovative payment solutions including Klarna, Uber and Square. Joining the Temenos MarketPlace brings this market-leading solution to banks worldwide, from challenger banks to established incumbents. With instant access to Marqeta’s technology, these banks can bring new card and payment ideas and experiences to market at speed.
The integration of Marqeta enables Temenos’ banking and financial institution customers to leverage Marqeta’s open API, Tokenization as a Service, Just in Time Gateway funding, as well as other market-leading functionality. Agility is key and with Marqeta, financial services innovators can build, test, launch and iterate modern and scalable card programs from the ground up on their terms, without expensive or time-consuming change requests.
Temenos’ modern technology architecture, robust APIs and MarketPlace of world-class FinTechs, enables banks to embrace a platform-based business model, quickly integrate innovative solutions and offer their customers a broader range of financial services. In this year’s global banking report from The Economist Intelligence Unit report and Temenos, 80% of respondents saw the platformization of banking services as a key trend by 2025, and almost half (47%) were committed to transforming their businesses into digital ecosystems with the bank at the centre of the customer experience.
Ian Johnson, Managing Director, Marqeta Europe, said: “We’re impressed by Temenos’ work in curating the best of modern fintech solutions in one place for the benefit of forward-thinking and innovative financial institutions around the world. By working alongside Temenos and other modern solutions within its MarketPlace, we’re able to support the ambitions of businesses who might wish to call upon a range of expertise from within today’s fast-evolving payments ecosystem. Indeed, it’s clear that the future of payments is platform-based, and this partnership is about helping as many businesses as possible take advantage of the opportunities this landscape offers.”
Martin Bailey, Product Director Innovation and Ecosystem, Temenos, added: “Marqeta’s card issuing and payment processing platform is setting the industry standard for API-first payments functionality. In the face of increased competition and rising expectations, banks must compete on experience to attract and retain customers and grow share of wallet. Agility and speed to market are key. This latest addition to the Temenos MarketPlace offers a pre-integrated solution for banks to create a tailored payment experience and build card programs in hours, not months. We’re delighted this exciting business has joined MarketPlace and confident it will benefit our customers now and into the future, thanks to Marqeta’s commitment to continual innovation.”
Recently, IBS Intelligence reported that Temenos, the banking software company, announced that Barko, a leading microfinance company, plans to enter the retail banking market in South Africa with a new digital bank built on Temenos Transact and powered by The Temenos Banking Cloud.
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