- Torpago and Marqeta will power Sunwest Bank’s Sunwest Visionary Card.
- The new commercial credit card and expense management solution will leverage Marqeta’s modern card issuing API, as well as Torpago’s white-labeled card program solution, Powered By.
- The added card program is expected to help Sunwest generate new income streams, attract deposits, and improve operating efficiency.
Two partners in the corporate card space, Marqeta and Torpago, recently announced they will power Sunwest Bank’s Sunwest Visionary Card, the bank’s commercial credit card and expense management solution.
Sunwest’s bank-branded credit card program will leverage Marqeta’s modern card issuing API, as well as Torpago’s Powered By, a white-labeled card program solution that aims to help banks enhance their existing card and expense management offerings.
Torpago said that Sunwest considers the card program modernization effort as a “growth engine.” The San Francisco-based company expects that offering corporate card products under the Sunwest brand will help the bank both deepen existing customer relationships and attract new business.
“By equipping Sunwest with a powerful technology platform, we expect Sunwest to generate new income streams, attract deposits and improve operating efficiency.” said Torpago CEO and Founder Brent Jackson. “Working with Sunwest and Marqeta has been fantastic and we are thrilled to be the engine behind the Visionary Card.”
Torpago was founded in 2019 and offers a range of bank-branded, low-code/no-code technologies, including loan origination and underwriting, card issuing and fulfillment, fraud monitoring, web and mobile apps, expense management tools, third-party integrations, and account servicing. The company also provides services for compliance, cardholder support, and collections.
Torpago’s card issuing, spend controls, and card fulfillment available via Marqeta’s APIs. Oakland, California-based Marqeta helps organizations issue credit and debit cards, prepaid cards, virtual cards, as well as digital wallets. Developers can use Marqeta’s APIs to issue cards, fund accounts, manage payments, and more.
“Marqeta is proud to partner with Torpago to give Sunwest the tools it needs to build a truly differentiated solution from the ground up, enabling Sunwest to customize its card program and deliver a highly personalized and smooth experience for their cardholders,” said Marqeta Chief Revenue Officer Todd Pollak.
For its part of the deal, Sunwest is responsible for acquiring customers for its Visionary Card and will be leveraging its own balance sheet. The bank was founded in 1969 and currently has more than $2.7 billion in assets. Headquartered in Sandy, Utah, Sunwest and has offices in California, Arizona, Idaho, Utah, and Florida.