Marqeta (MQ) Wolfe Fintech Forum summary

Leadership and strategic focus

• Leadership transition to interim CEO aims to renew focus on execution and foundational elements for success in 2025 and beyond.

• Emphasis on back-to-basics and delivering more value to customers and partners to drive shareholder value.

2024 business highlights and growth drivers

• Embedded finance pipeline has grown from one-third to two-thirds of new sales, with strong momentum and unique positioning due to a modern, API-based platform.

• Progress in credit with first commercial and consumer use cases launched, including an airline co-brand.

• European business is growing over 100% and now represents more than 10% of total payment volume, supported by a pending acquisition to expand capabilities.

• Expansion of services offered to customers, shifting from use-case expansion to value-added services.

Customer and bank onboarding dynamics

• Six instances of customers internalizing services or connecting directly impacted P&L, with most effects realized and some continuing into early 2025.

• Two new U.S. bank partners targeted for 2025 to expand capabilities and improve onboarding, with tighter collaboration and clearer escalation paths.

• Customers are being educated on the impact of changes and incentivized to plan better, with most delayed programs now launched.