Infrastructure Is Enabling Innovation Integrating We believe the development of robust FinTech infrastructure companies is at the core of innovation for the sector. Integrated infrastructure reduces years of engineering build and with various maintenance into a single API (Application Programming Interface). Whereas companies of Compliance/ the past often needed to spend millions of dollars of venture funding and years of precious startup time just getting their product to the market, that money and focus can now be turned Risk/Banking towards 昀椀nancial product innovation. What excites us is that FinTechs and incumbents can services save now spend resources building products to address user segments that have been historically signi昀椀cant overlooked and signi昀椀cantly decrease the cost to deliver 昀椀nancial products - o昀昀ering a bank account used to be expensive! development As B2C FinTech has grown and increased its product complexity, it has created the time, enabling opportunity for the expansion of depth and breadth in B2B infrastructure companies. When many Fintechs neo-banks were launching, they needed to connect to existing bank accounts birthing to focus on account aggregation (Plaid). As these neo-banks scaled, they observed that the LTV (Lifetime Value) of a direct deposit account is much higher than a regular account, and their core user thus payroll infrastructure was born (Pinwheel). As users expanded across geographies, experience the need for global KYC (Know Your Customer) was born (Persona). As audiences were built and brands realized they should issue their own cards, issuing-as-a-service came 11 along (Marqeta). As customer-facing products continue to broaden out, demands for new and service . platform tools expand. Thankfully, FinTech founders today have a deep suite of infrastructure Matan Bar, CEO of Mello to enable them to get to market faster and not waste time reinventing the wheel. next-gen platforms powered by infra point solutions10 Account ID Card issuing Brokerage Direct aggregation veri昀椀cation infra deposit switching For example: For example: For example: For example: For example: Note: Companies referenced are only representative of providers in the vertical and not indicative of any commercial agreements INFRASTRUCTURE IS ENABLING INNOVATION SHARE VISIT PG 07