How does Highnote balance self-serve sales with larger enterprise customers for cash flow predictability and mitigation of concentration risk?

That goes to a little bit about the state of affairs in the market today. With Marqeta's success, they've definitely illuminated the opportunity on the card issuance side, and they have done a phenomenal job at leading the industry on that front. But because they were not built for the purpose of card issuance in the way that we are, they haven't really been able to serve the entire spectrum of the market in the way that we are thinking about it. What they've tended to do over time is focus on the very large enterprise and neglect the remaining small to mid-size enterprises and the semi-medium to large enterprises who want to move fast and differentiate. We’ve built an infrastructure in a way which can cover a wider spectrum of the market.

We’re doing this in a few ways. 

One, again, goes back to the word I keep throwing around—built for purpose. We've built this for purpose, keeping in mind all of the issues that we saw the incumbents facing around scaling. We've tried to solve those internally, both from a technology perspective as well as from an operations and scaling perspective from day one. We feel the infrastructure we’ve built is highly scalable and can achieve the level of accuracy and servicing needed for this wide spectrum - now and in the future. 

The second piece is around the developer experience. We’ve built an API-first company. Building that API-first company in conjunction with a company that's super obsessed about customers really brings this unique recipe into the market, which we feel is very differentiated and allows us to scale horizontally across the spectrum very fast.