Strivve Accelerates Growth and Business Momentum in 2020
Strivve, Inc. today announced record growth in 2020 revenues resulting from the expansion of its business model related to partnerships with card issuers as well as card processing platforms and service providers. The issuers ranged from the largest tier-one banks in the U.S. and Canada to regional banks and credit unions. Additionally, Strivve executed agreements with financial partners to provide the Card on File service to millions of cardholders. The Company continues to execute on its growth opportunities as it leverages its partners to add several new issuers in Q1 2021.
“Our team at Strivve, side-by-side with our partners, achieved numerous milestones this past year, advancing innovations in both our business and the financial services market at-large,” said Chris Hopen, Strivve co-founder and CEO. “Despite the uncertainties of COVID-19, we were able to execute on our strategic platform and business relationships which allowed us to experience rapid growth in the face of the pandemic. Strivve and our partners are poised for even faster-paced record growth in this 2021 calendar year.”
Strivve surpassed 1 million card accounts being serviced. On top of that, Strivve is forecasting an increase in the number of cardholder accounts reaching into the tens of millions of card accounts in 2021, exclusively through contracts signed to date.
Strivve’s market share within North America has grown due to direct sales to strategic Tier 1 card issuers in the U.S. and Canada, combined with partnerships servicing all levels and segments of financial services channels. Recently, Strivve announced a partnership with Alkami Technology, extending CardUpdatr’s reach to Alkami’s digital banking customers. Combining Alkami and Strivve technology, Alkami’s customers and their cardholders can now easily place their credit or debit cards at merchant sites from within Alkami’s platform. Cardholders update accounts during typical card experiences including card activation, card reissuance, and card use promotion initiatives, such as having a card placed as Top of Wallet® for key merchant sites such as Amazon and Walmart. This winning combination makes card issuers more competitive in the surging online payment ecosystem.
In addition to Alkami, Strivve partnered with Digital Onboarding, Inc., a fully automated customer and member digital engagement platform that is purpose-built for financial institutions to engage cardholders through online digital journeys.