UK small business lender OakNorth has partnered with Marqeta to offer commercial debit cards to its customers.
OakNorth believes that Marqeta’s card issuing platform will provide customers with enhanced speed, flexibility, and reliability, enabling them to gain a comprehensive view of their finances while effectively tracking spending and managing cash flow.
Small and medium-sized enterprise (SME) customers will gain access to services traditionally reserved for larger commercial banking clients, such as deposit accounts and automation tools for bill payments, which will help them navigate rising costs and prosper amidst economic uncertainty.
Kristjan Kaar, chief product officer of OakNorth, stated, “We selected Marqeta because of its innovative approach to building a card program tailored to creating a unique experience for our customers and supporting their growth ambitions.”
Todd Pollak, chief revenue officer of Marqeta, remarked, “OakNorth Bank understands the complexities facing SMEs today. By partnering with Marqeta, they can offer their customers debit cards with customizable controls that help manage spending, provide a complete overview of expenses, and equip them with tools to invest more in their business.”