Card issuing platform Marqeta has tapped OpenAI's Language Learning Model to speed up the process of launching embedded finance applications.
Marqeta Docs AI is a generative AI tool powered by OpenAI’s Large Language Models to allow Marqeta customers to quickly navigate through the Marqeta Docs site. With the AI tool, customers can ask questions and find answers to individual use cases, gaining a faster understanding of its offerings and the complexities of embedding payment services such as physical card issuance, processing, BNPL, earned wage access and expense management into their sites.
Marqeta says that early test results from its internal code generation tool suggest that developers can reduce the amount of time spent on coding and testing tasks by up to 75%.
Wendy Li, SVP of emerging technologies at Marqeta, says: “Marqeta is investing in emerging technologies and the potential impact they can have on our customer’s business, and generative AI is one of the top roadmap items. The launch of Marqeta Docs AI opens the door to the possibility of additional tools that reduce time to value for our customers and increase the speed at which they see results from their Marqeta-powered programs.”
Marqeta Docs AI is currently in beta with plans for general availability later this quarter.