FinTechs are made up of some of today’s most brilliant minds in finance, software development, engineering, and marketing. However, when challenger banks enter the market, many of these people wear different hats in their company, managing responsibilities that are really not in their wheelhouse. That is when time and money are literally thrown out needlessly, delaying projects and costing thousands of dollars in the meantime. Ask yourself:
Would you want your plumber to tailor a custom made suit for you?
Would you have your Pilates instructor perform open heart surgery?
Perhaps trust your pet sitter to rewire the electric in your home?
Unfortunately, this is how many hungry new FinTechs around the world run their startups as they strive to create their brand.
There is no reason a software engineer should know what the mil thickness of an EMV card is and why it is important; or what happens if the proper recipes for heat and time of card lamination are flawed; or whether a litho or silk screen ink would be appropriate for a specific card design.
Further, should an app designer know the standard service levels of card package deliveries, lead times of collateral materials, and proper BIN setups between an issuing processor and personalization facility? Would they know about Visa and MasterCard regulations around site security of a secure card manufacturer? Should a CEO with an advanced economics degree from Wharton know what a presort house is and the standard lead times of the USPS? Would a marketing executive with experience working at some of the top social media sites know the difference between contactless inlays and competing chip platforms?
The short answer is typically “no”, and that is where FinTechCard comes in. With vast industry experience to answer all these and so many more questions, we will also provide thorough reviews of supplier contracts and agreements to oversee all your options and make sure you get the best terms. Our objective is to become your best advocate to successfully launch, manage, and grow your card program.