Torpago, a commercial credit card and spend management provider, Marqeta, strategic partner of Torpago and the global modern card issuing platform, and Sunwest Bank, a leading entrepreneurial business bank, announce the launch of Sunwest Visionary Card, Sunwest’s commercial credit card and expense management solution. Combining a cloud-native, event-driven infrastructure with Marqeta’s modern card issuing API, Torpago ‘Powered By’ empowers Sunwest to launch a market-leading, bank-branded credit card program.
Community banks are financial pillars to their surrounding communities, providing critical financial services to their customers. In the U.S. alone there are nearly 4,500 community banks, representing approximately 97% of all banks in the country. These banks are committed to their customer bases, working to support the growth and financial health of local businesses and neighborhoods.
A recent Torpago survey of community banks in the U.S. found that 93.2% recognize the significance of delivering customer experiences, with a focus on digital and mobile banking.
Sunwest views modernization with Torpago as a growth engine. Offering market-leading products under the Sunwest brand allows Sunwest to deepen existing customer relationships and attract new business.
“At Sunwest Bank, we empower our clients, who we consider Visionary Entrepreneurs, with tools to grow and manage their business. The Visionary Card Program is one of the tools we consider essential for every business,” said Carson Lappetito, President of Sunwest Bank. “After an exhaustive search, we found a fintech partner, Torpago, whose technology helped us bring the world-class platform solution to life.”
Torpago provides a bank-branded, low-code/no-code technology platform. The platform provides end-to-end infrastructure including loan origination and underwriting, card issuing and fulfillment, fraud monitoring, web and mobile apps, expense management tools, third-party integrations, and account servicing software. Torpago also manages services such as compliance, cardholder support and collections. Torpago’s card issuing, spend controls and card fulfillment are made available via Marqeta APIs. Sunwest is responsible for customer acquisition and leverages its own balance sheet.
“By equipping Sunwest with a powerful technology platform, we expect Sunwest to generate new income streams, attract deposits and improve operating efficiency.” said Brent Jackson, CEO and Founder of Torpago. “Working with Sunwest and Marqeta has been fantastic and we are thrilled to be the engine behind the Visionary Card.”
“Creating a delightful banking experience for customers is key to keeping them coming back for more, and deepening their relationship with their bank,” said Todd Pollak, Chief Revenue Officer, Marqeta. “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.”