UK small business lender OakNorth has teamed up with Marqeta to offer commercial debit cards to its customers.
OakNorth says that the speed, flexibility and reliability of Marqeta's card issuing platform will help customers see a more holistic view of their finances and more efficiently track spending and manage cash flow.
SME customers will benefit from the services typically only available to commercial banking customers, including deposit accounts and tools to automate bill payments, helping them plan for rising costs and thrive amid economic uncertainty.
Kristjan Kaar, chief product officer, OakNorth, says: “We selected Marqeta because of its innovative approach to building a card programme that would enable us to create a bespoke experience for our customers and support them in their growth ambitions.”
Todd Pollak, chief revenue officer, Marqeta, adds: “OakNorth Bank knows the complexities facing SMEs today, and by partnering with Marqeta, will be able to provide their customers with debit cards with customisable controls that help to limit spending and give customers a full view of expenses, along with tools to help them invest more in their business."