Neobanks Succeed by Understanding Needs
Anthony Peculic, Head of Cards at Cross River Bank, on building a fintech one-stop shop
The winning neobanks are usually the ones that turn one urgent user problem into a tightly connected product stack. In practice that means starting with a clear need like early wage access, credit building, or simple debit spending, then adding the next product that naturally fits, like a secured card, small dollar credit, or faster money movement. Cross River matters here because it sits underneath that progression, supplying the bank, card, payments, and lending layers that let a fintech assemble that journey without building a bank from scratch.
-
Cross River is not really a Marqeta style pure issuer processor. It positions itself as the regulated bank and broader infrastructure layer behind cards, payments, deposits, lending, and compliance, which makes it more useful to a neobank that wants multiple products under one roof, not just card issuing.
-
Lithic represents the opposite design choice. It is a developer first, modular card issuing tool for teams that want fine control over virtual cards, auth rules, reconciliation, and speed to market. That works best when cards are core to the product and the customer is willing to assemble more of the rest of the stack themselves.
-
Cardless is narrower still. It helps brands launch embedded co branded credit cards inside their own apps, with underwriting, rewards, and servicing wrapped into the brand experience. That is less about becoming a neobank and more about turning an existing consumer brand into a card issuer with faster launch and tighter in app engagement.
The market is moving toward more specialized front ends and fewer companies trying to own every layer. Neobanks will keep winning by owning customer insight and product sequencing, while infrastructure players split into bank led platforms like Cross River, programmable card specialists like Lithic, and branded credit enablers like Cardless. The durable advantage will come from combining the right stack with a very specific user need.