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Zeta Powers Sparrow’s Industry-leading Credit Card for the Underserved

Credit card industry veterans choose Zeta for next-gen credit card program

SAN FRANCISCO, March 07, 2024--(BUSINESS WIRE)--Zeta, a leading provider of next-gen card processing solutions to banks and credit unions, is proud to announce its partnership with Sparrow Financial to power the most modern credit card program in existence for non-prime customers.

Sparrow is founded by industry veterans - Evan Feldman and Lisa Sturm - who have spent 30+ years building and managing large-scale credit card portfolios. They embarked on a quest for a modern card processing solution to launch a differentiated card program for underserved Americans. After meticulous evaluation of various card processors, they chose Zeta's Tachyon platform.

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Evan Feldman, Co-CEO of Sparrow Financial, said: "Sparrow has built the #1 credit card experience for the underserved in every respect, from a seamless application journey and instantaneous underwriting, a user-friendly mobile app, cutting-edge virtual card experience, a hassle-free repayment process, and an operations center that puts the customer first. This achievement has been made possible through the next-gen capabilities and integrated stack of Zeta."

The Sparrow credit card went live in October 2023, leveraging Zeta for card processing, mobile app, servicing, and advanced data & analytics capabilities. And, in under 6 months of launch, it has received glowing reviews for its intuitive and modern experience from customers with consistently high ratings on Credit Karma and mobile app stores, such as:

  • Great card, easy to use app | ⭐⭐⭐⭐⭐
    "The virtual card is available right away on the app, which was super convenient. Overall the app is really easy to use, especially compared to some of my other cards."

  • This is what every card should be | ⭐⭐⭐⭐⭐
    "I was approved and had access to the card in my app immediately. And the app is so awesome. Looks super modern and has made managing my account so simple and quick. Way better than the apps for my other cards."

"It’s our privilege to partner with Sparrow. Together, we have delivered the best card experience for non-prime customers," said Bhavin Turakhia, CEO and Co-founder of Zeta. "Zeta’s next-gen processing platform enables more than a dozen unique digital experiences for the Sparrow Card - such as instant virtual card issuance in under 3 seconds, rich card controls, and a blazing fast mobile app experience. Over the next several quarters we will be bringing several Zeta capabilities spanning our processing and digital banking suites - such as conversational AI bots, family cards, and transaction enrichment - to the Sparrow card program."

Sparrow went from concept to launch in under 8 months by leveraging Zeta’s comprehensive, pre-integrated credit card stack comprising

  • Zeta Tachyon Suite - a Next-Gen Credit Card Processing Platform with granular APIs and events, allowing rapid application development

  • Saturn Servicing Suite - Reimagined web interfaces for Contact Center, Dispute Operations, and Account Operations

  • Zeus Data Suite - Open Data Stack comprising Data Extracts and Visualizations for bespoke reporting

  • Zeta Studios - high-end bespoke engineering services comprising developers, designers, and product managers to deliver apps, integrations, and migrations at 2x the development speeds vs. traditional vendors

To learn more about how Zeta is powering Sparrow credit cards, read our blog here and to find out more about how Zeta can help issuers launch next-gen card products, visit www.zeta.tech.

About Zeta

Zeta is a next-gen card processor. Zeta’s platform empowers issuers to launch next-gen credit card programs with its cloud-native and fully API-enabled stack that includes processing, issuing, lending, core banking, fraud, loyalty, and many other capabilities. Zeta has 1700+ employees with over 70% in technology roles across locations in the US, UK, Middle East, and Asia. Globally, 35+ customers have issued 15M+ cards on Zeta’s platform. Zeta has raised $280 million from Softbank Vision Fund 2, Mastercard, and other investors at a $1.5 billion valuation. Visit us at www.zeta.tech or follow us on LinkedIn, YouTube, and X.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240306612499/en/

Contacts

For media queries, please contact:
Rishav Kumar
Manager, PR, and Analyst Relations
rishavk@zeta.in