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Kicking Off the Card Launching Process: A Three-Part Series
11/29/2023
Kicking Off the Card Launching Process: A Three-Part Series
Launching a card is a fundamental aspect of today's financial services landscape, serving as a cornerstone product for both incumbents and fintech companies. Despite the availability of new technology platforms, banking-as-a-service models, and experienced program managers, there remains a notable gap in understanding the intricacies of launching and managing a card effectively. In an effort to shed light on this process and make it more accessible, we've gathered insights from leading fintech and financial services firms with extensive experience in launching and scaling card products. Our contributors include industry giants like Wise and Dave, as well as prominent platforms and banks such as Cross River Bank and First National Bank of Omaha. Special recognition goes to Galileo, the technology and processing platform powering cards for many of today's popular fintechs. We extend our gratitude for their steadfast support throughout this project. This podcast mini-series aims to guide you through the intricacies of launching a card successfully. Throughout our conversations with industry leaders, a common theme emerges – the importance of thorough planning. While perfection may not be achieved on the first attempt, strategic planning provides a clear path forward. Our goal is to equip you with insights from seasoned professionals who have launched cards used by millions, sharing both their challenges and triumphs. This first installment of a three-part series focuses on the planning phase of ideating, creating, and launching a card. Topics covered include: Introduction to the significance of launching and managing cards in financial services. The imperative need for understanding the card launching process and fostering collaborations with partners. Planning and the underlying motivations for launching a card, with a focus on solving customer problems. Diverse approaches to launching cards, whether as strategic differentiators or complementary add-ons. Case studies featuring insights from Wise, Bluevine, Dave, and the motivations behind their card launches. Understanding the distinctions between debit and credit cards and their implications. Forward-looking strategies for the evolution of card programs and ecosystems. Emphasizing the importance of testing, avoiding rushed market entries, and continuous iteration. The role of a value proposition in aligning with a company's mission. Achieving differentiation through card-related features that address customer needs. For a more in-depth exploration, we encourage you to download our comprehensive guide, incorporating insider information and more, available at . Stay tuned for the upcoming parts of this series, delving deeper into the nuances of successfully launching and managing card products.
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