Lydia selects Marqeta to power its new digital banking app Sumeria

Lydia Solutions and Marqeta Partnership Expansion:

1. Partnership Overview:
   • Lydia Solutions: French fintech behind the Lydia financial services app
   • Marqeta: California-based card issuing platform
   • New Product: Sumeria, a digital banking application
2. Sumeria Features:
   • Online Account: Offers 4% interest on cash balances for the first three months
   • Customer Goal: Aim to service five million customers by 2027
3. Marqeta’s Role:
   • Technology: Provides security, compliance, and card issuing for Sumeria (tokenised, virtual, and physical cards)
   • Real-Time Views: Detailed, real-time views into accounts and transactions
4. Collaboration History:
   • Since 2019: Marqeta has powered Lydia’s peer-to-peer payments app
5. Future Plans:
   • Expansion: Sumeria aims to expand quickly throughout Europe
   • Account Portability: Users can keep the same bank account when relocating to another supported country
6. Additional Partnerships:
   • OakNorth: Marqeta facilitated the launch of OakNorth’s SMB commercial card programme in April
7. Strategic Importance:
   • Scalability: Lydia chose Marqeta for its ability to scale and support new country launches
   • Ambitious Goals: Reflects Lydia’s intent to meet ambitious expansion and service targets