May 2021

Starting From the Finish Line

Deserve Runs Laps Around Legacy Systems and Institutions

From viral TikTok dances to the automatic software update notifications we get every day, advancements tend to develop and evolve much faster than most of us can keep up with. Our smart devices are literally getting smarter while we sleep! At Deserve, we like to lead the charge with a future-forward approach. We move forward with novel advancements in technology, not behind them.

Though we won't be creating a new viral TikTok choreography any time soon, you could, however, consider us the latest trendsetters in the fintech space. Our starting point is far beyond where legacy players have stood for the past 60 years.

Today Versus The Future

Paper statements, plastic cards, and confusing lists of transactions–it’s no surprise that some banks and financial institutions tend to suffer from this problem of being stuck in the past. To be fair, many of them have been around since before most of us were born. Still, one would think that by now that more of these institutions would have caught up with where technology is today, and as far as we can tell, that is not the case at all. Many of their services are still being powered by outdated software and coding languages, all of which limit their developmental capabilities and cause unnecessary delays throughout the course of a product launch.

Deserve’s infrastructure, on the other hand, consists of a modern, future-focused cloud-based platform, built on a foundation of APIs and SDKs rather than old, prohibitively lethargic COBOL processes. Because we know what current technology is capable of, and how quickly it can advance, we built Deserve with the ability to process data effectively in real-time, and the capacity to continually update its functions and security protocols as new features become available..

Credit, The Way You Deserve

If you want to launch a credit card program for your business or brand, dealing with legacy institutions might initially seem like an attractive way forward. They stand before you, familiar, distinguished, like trustworthy gatekeepers of a century-old tradition. But when it comes to technological capabilities and know-how, many of these institutions are undoubtedly hindered by the tools of the past. As it currently stands, it can take up to two years for credit card programs to launch under the direction of some legacy institutions due to their stubborn reliance on the cumbersome COBOL framework. And sure, there was a time when this might have been reasonable, but take one earnest look at the fast-paced nature of technology today and you will quickly realize that that is no longer the case.

At Deserve we have enjoyed the advantage of seeing the fintech space as a post-COBOL environment, a clean slate that starts at the finish line of heritage technology and leaves no room for relics of the past. This positions us leagues beyond many of our legacy competitors, and our future-forward attitude toward tech has enabled us to deliver credit card product launches in as little as 90 days.

Ultimately, by starting with a foundation that favors current and developing technology such as APIs, our solutions are not only fast-acting but customizable in functionality and limited only by the barriers of imagination. Being a truly turnkey platform allows our partners to know what our card technology is capable of from the outset, and it provides the freedom from there to dream up user interface features and rewards programs that thoughtfully reflect their brands’ personalities and mission statements. So in today’s world with an ever-changing tech space, you can quit playing catch-up with the times and finally have the credit card experience you deserve.