“ Banks face two challenges : massive legacy costs and the mental leap needed to accept outside help ”
MARCIN GLOGOWSKI , SVP , MANAGING DIRECTOR FOR EUROPE AND UK CEO , MARQETA
Q . CAN YOU TELL US ABOUT MARQETA AND WHAT THE COMPANY DOES ? Marqeta is the modern issuing and issuer processing platform . We support fintech and non-fintech companies with introducing various contexts of card being issued , with cards working in whatever context or use case , whether that ’ s consumer or commercial , debit or credit .
The breadth and depth of relationships we ’ re able to build is fascinating , based on what I think is one of the most robust and stable platforms that has been tested to its extremes .
We are making Europe the next space for Marqeta to grow , utilising our vast experience and technological solutions to build ourselves , but primarily to build our customers in Europe as well .
Q . COULD YOU SHARE YOUR CAREER JOURNEY LEADING UP TO MARQETA ? I ’ ve been in the financial services context for pretty much a quarter of a century now . I started in management consulting , primarily looking at the financial services sector and supporting banks to grow .
Then I moved to one of the banks , transforming it from A to B , then to PayPal , and now Marqeta . Along the way , I observed how the banking sector is both complex and inefficient , with a limited speed to embrace changes . This is what historically attracted me to PayPal , and later even more to Marqeta – being able to be at the forefront of how financial experience is being created , shaped and changed by very modern players .
Q . WHAT ARE THE MAIN CHALLENGES TRADITIONAL BANKS FACE IN MODERNISING THEIR SYSTEMS ? The fundamental problem for banks is addressing their legacy infrastructure , which is massively costly . It ’ s not fundamentally a lack of willingness to change from the banking side , it ’ s simply where they ’ re starting from and the cost of moving the legacy setup to where it should be . fintechmagazine . com 37