Financial technology advisory firm Aite-Novarica Group recently ranked Toronto-based Brim Financial’s credit-card-as-a-service as best-in-class for product capabilities in its analysis of the global industry.
The result came about through the Aite-Novarica Group CCaaS Matrix Evaluation. This process evaluates the overall competitive position of each provider, focusing on provider stability, client strength, product features, and client services.
“Congratulations to Brim Financial for being ranked best-in-class on product capabilities for its Credit-Card-as-a-Service offering in the Aite-Novarica Group CCaaS Matrix Evaluation,” stated David Shipper, Strategic Advisor of Retail Banking and Payments at Aite-Novarica Group.
According to Shipper, providers like Brim help launch new card programs “faster than what was possible in the past, while supporting most or all of the operational and service needs of a new program, allowing clients to focus on growing the business.”
“Brim is honoured to be recognized by Aite-Novarica Group’s Impact Report as best-in-class for product capabilities in its analysis of the global landscape of Credit-Card-as-a-Service providers,” said Rasha Katabi, Founder and CEO of Brim Financial.
The growth of credit card issuance and usage has motivated financial institutions, fintechs, and startups to launch innovative credit card programs they own and manage, according to Aite-Novarica Group.
Brim’s combined functions—instant approvals, full mobile wallet together with integrated buy now, pay later solutions, mobile and digital banking, rewards and loyalty, and behaviour-driven analytics—enable partners to roll out end-to-end credit card services in under 12 weeks, the Matrix Evaluation noted.
Brim’s suite of features is robust enough so as it differentiate itself even on the global market, Aite-Novarica Group concluded.
“We will continue our growth trajectory supporting our clients across financial institutions, large brands, and fintech partners through a composable and configurable platform that fits their needs,” Katabi affirmed.
Brim’s ability to land partnerships was cited as a key strength by Aite-Novarica Group. For example, Brim Financial has partnered with Air France-KLM in Canada to launch a credit card program for their Canadian Flying Blue members, as well as with Mambu, a software-as-a-service banking platform.
Additionally, executive upgrades have reinforced the fast-growing startup’s momentum.
And as a result? The Canadian fintech rocket is on track for billion-dollar revenue.