Mastering Your Card Program Launch

Anthony Peculic, Head of BaaS & Cards, Cross River

October 13, 2023

2 min read

Tearsheet and Galileo recently teamed up to create a very needed and comprehensive “Card Launching 101 Guide.” It was great to be part of this guide, and to talk with Zack Miller, CEO & Founder of Tearsheet.   

In the fast-evolving world of fintech and financial services, it goes without saying that launching new card programs, and retiring the old, requires proactive planning. But what isn’t emphasized enough is that this strategic foresight can be the key to transforming your card program into a lucrative and forward-thinking venture. 

As I discussed with Zack, the key to future-proofing any card program is meticulous planning. To kick off a card program, you might start with a debit card and later introduce a credit card because it aligns with your strategy, or later integrate a loan or insurance product. These decisions require thoughtful consideration and a vision for the ecosystem you want to create. 

Zack is right in emphasizing the importance of understanding the 'why' behind these financial moves. To the extent that you can shape a clear vision for your card program from the start, the better the likelihood you’ll see a positive outcome. This can be a daunting task, especially for newcomers to the world of card launches, where the learning curve can be steep. The better you plan in the early stages, the more likely your card program will achieve success.  

A further challenge is to anticipate the complexity of adding new card programs.  This process can be a lengthy nine-to-12-month exercise. However, having a well-defined strategy that envisions products for now and for the future, can reduce this timeline significantly, to perhaps to just four to six months. This reduction in time can have a substantial impact on your revenue, making your card program not only a strategic win but a financial one too.   

Watch my interview with Tearsheet here.

Access the full Tearsheet’s Card Launching 101 guide here.