Lithic

Being in the highly regulated financial industry, fintechs understand the importance of rules, regulations, and risk management. But for sponsor banks, it’s priority number one. In our latest guide, we spoke to several sponsor banks about what they look for in partners. Here’s what Barrett Hicken, SVP of Fintech Lending at Stride Bank, N.A. had to say: “A standout compliance management system is essential. It’s the foundation for mitigating risks that all banking institutions face. Given the regulatory oversight in our industry, we must navigate numerous risks that entrepreneurial Fintechs might overlook. With a seasoned management team, robust compliance processes, and a strong capital base, we’re committed to fostering successful, compliant partnerships.” Download the guide to learn what else sponsor banks are looking for and find out how to set yourself up for a successful bank partnership. Link in the comments.

Card programs need more than just basic transaction data. Without deeper insights into how cards are used, companies have a fragmented view of their expenses, making it difficult to manage costs effectively. Our latest release aims to change that. Lithic’s latest advancement in commercial payment solutions provides support for Level 2 (L2) and Level 3 (L3) enhanced commercial data. Our comprehensive solution captures detailed information on each transaction, providing businesses with the insights they need to optimize their spending and streamline their financial operations. Read our latest blog post to learn: The data points L2 and L3 data covers The value of enhanced commercial data The key features of Lithic’s L2 and L3 data support And most importantly, how you can get started. Link in the comments.

In case you missed it, we recently announced the launch of Fleet Cards on Lithic. With Lithic fleet cards, businesses can manage their fuel, maintenance, and other vehicle expenses efficiently through an advanced, open-loop card program customized specifically to meet complex fleet management needs. The program is packed with a number of features that help fleet companies better manage their expenses, streamline operations, and improve business outcomes: Flexible back office integrations Direct access to network innovations Customized decisioning Real-time transaction visibility and controls Enhanced fuel pump data Flexible card issuing Read the full blog post to learn how Lithic can help your company streamline fleet payments. Find the link to the post in the comments.

The nexus of fintech and climate tech is steadily becoming a bigger opportunity for innovation. Our latest podcast guest, RAVI S MIKKELSEN, co-founder and CEO of Atmos Financial, has a unique approach. Blending climate tech and fintech, Atmos offers sustainable banking solutions that empower consumers, businesses, and banks to drive positive climate impact. As the episode reveals, there’s much more product strategy at play than a simple “climate neobank.” Listen to the latest episode of Fintech Layer Cake to learn more about Atmos’ dual product strategy, how it facilitates bank deposits for clean energy financing, the different buckets and strategies for customer acquisition, and the opportunities for innovators at the nexus of fintech and climate. Link in the comments.

At Lithic, our robust payment infrastructure and seamless APIs empower businesses to automate their payment processes, reducing friction and driving growth. We're delighted to share this quote from Matt Garippa, CBO at Order.co: "We wouldn't be able to offer this level of automation at scale if we didn't have Lithic on the backend streamlining our payments process." We're honored to contribute to Order's success and remain committed to delivering exceptional payment solutions. Want to work with us too? Reach out to one of our experts. Link in the comments.

In case you missed it, we recently published a post on Payments Dive that explores how 3-D Secure (3DS) is transforming payment security. We share insights on: ✅ Leveraging 3DS for smarter authentication  ✅ Reducing fraud losses with Lithic's 3DS solution ✅ Enhancing the cardholder experience We also share how 3DS can help card programs increase purchase authorization rates without taking on undue fraud-liability risk. Read the full blog post to learn more about the importance of 3DS and how Lithic used it to identify a potential 35% reduction in fraud losses for a neobank. Link in the comments.

It’s impossible to launch a payment program alone. Whether you work with a program manager or go direct, a sponsor bank is a key partner in the process. The right sponsor bank can help companies navigate the complexities of rules, regulations, and requirements while providing guidance and expertise to set programs up for success. We recently spoke with Danica Hudson, SVP, Head of Enterprise Partnerships & Payments at Coastal Community Bank to discuss the importance of bank partnerships: “In addition to the ongoing operation of the program, the relationship between the bank and the fintech is critical for success as well. This is a long-term commitment, so communication, trust, and mutual respect is critical to weather the ups and downs. A common mission and vision can make the difference between a good partnership and a great partnership.” Banks are increasingly invested in their partners’ success, but they’re also more selective about who they work with. In our latest guide, “How to Go Direct to a Sponsor Bank,” we share insights on what sponsor banks are looking for in fintech partners, how companies can get started, and best practices for a successful partnership. Find the link in the comments.

As we celebrate 10 years of Lithic, we’re reminded of one thing: None of this would have been possible without the people behind the operation. Between product, engineering, compliance, ops, and every other team that drives our company forward, there are over 100 talented folks who have shaped Lithic into the amazing company it is today. We want to extend a big thank you to everyone who has supported Lithic on this journey. We’re grateful to celebrate this big milestone alongside all of you and excited to see what the future holds.

Our latest guide, How to Go Direct to a Sponsor Bank, was created in partnership with several sponsor banks we’ve had the pleasure of working with. But none of it would have been possible without our Senior Strategic Partnerships Manager, Alli Nilsen. Alli worked hand-in-hand with our sponsor bank partners to transform expertise from decades of industry experience into an actionable guide that helps fintechs navigate the complexities of bank partnerships. She was recently featured on the FinWise Bank EYE ON podcast to discuss her career journey, the current state of the Fintech market, and the changing relationship between Fintechs and banks. The episode is packed full of advice and insights on topics like: -Finding a bank partner that aligns with your goals and values -The increase in regulatory oversight, compliance, and review -The importance of compliance and regulatory risk management in attracting bank partners -How collaboration and forward-thinking are essential in navigating the challenges of the market Alli has been a key player in fostering our relationships with sponsor banks and we’re very fortunate to have her on our team. Listen to the full episode to learn from one of the leading minds in the fintech partnerships space. Link in the comments.

Cheers to an incredible evening with the Lithic team! Last month, we rounded up team members from the New York office for a golden hour cruise around the New York Harbor. More than 20 folks across product, compliance, legal, and other teams got together to celebrate Lithic’s 10-year anniversary and all of our team’s hard work that got us here. Thank you to everyone who made it out, we’re looking forward to our next team event!