Strengths

Strengths

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A Strong bank offering prepaid

SB’s banking strength metrics and ownership structure are strong and show partners and prospects a long term viability and dedication to prepaid. Also, one of largest 2 banks in prepaid currently can’t accept new business, giving SB a critical opportunity now.

Prepaid Issuer since 2002

SB began issuing national prepaid programs with the launch of the Amway eCelerate program in 2002. Sutton was one of the first issuers on the Metavante prepaid processing platform (now FIS North).

Customize programs

Marqeta provides some configurability and capabilities that make SB able to deliver on programs that those with other processors cannot

Nimble and perceived as responsive

No silos to cross, no long process to gather key decision makers and address challenges or act on opportunities. Huge differentiator vs other banks. Clients perceive SB as responsive, a key differentiator. These attributes could fuel new business as top choice vs. rivals

Board is supportive of Prepaid

Having the Board see Prepaid as strategic, and wanting to invest and support is a big advantage over some of the large banks where Prepaid isn’t big enough to move the needle, or those where the Board doesn’t see prepaid as strategic.

Scale programs via processors and partners

Despite a thin staff, SB can scale to deliver to larger clients by leveraging existing partners.