Lithic Product Update: December 2023
Welcome to Lithic’s product newsletter. This edition covers:
- Legal Library Holiday Gifts 🎁
- Recent Product Launches and Updates 🚀
- Open Roles 🤩
- Podcasts for your holiday travel 🎧
As always, if you’d like to connect, reach out to us.
Legal Library Holiday Gifts 🎁
Fintech started out 2023 in a rocky place. But now, looking back on the year, there’s a lot to celebrate. For example, we hit a milestone of $1B in charge card transaction volume – a sure sign that fintech isn’t dead, but growing.
To express our gratitude for all the great things this year, we wanted to give back to fintech builders by expanding and updating the Lithic Legal Library.
In particular, we’ve been impressed with the innovation we’ve seen from new and existing commercial card programs in 2023. To better support folks building in the commercial card space, we’ve added new cardholder agreement templates for commercial prepaid cards and commercial charge cards. We’ve also made updates to existing cardholder templates based on feedback (ask and you shall receive).
You can read about the updates and browse the legal library.
Lithic Product Updates 🚀
We’ve made lots of new products and features since we last emailed! Here are a few:
Card Level Balances
Card programs can now create multiple cards for a single cardholder, each with its own budget and spend rules.
ASA Endpoint Updates
Customers can now update their Auth Stream Access (ASA) responder endpoints on their own via the Lithic API. Read the changelog.
Card Program and Digital Art Improvements
In the spirit of developer-centricity, we want to make sure customers can self-serve as much as possible.
To that end, you can now query two new endpoints: Card Programs (to see what BINs and card program tokens you have) and Digital Card Art (to see which design tokens you use for a program’s digital cards). Read the changelog.
Additionally, we’ve added Card Program and Digital Card Art information to your Lithic Dashboard. You can easily tell which BINs you have for which programs, and which digital card design tokens a given program has.
External Bank Account Events
You can now receive event alerts when your card program or a cardholder makes updates to any linked external bank accounts. If a new bank account is added or fails verification, you’ll know. See our external bank API docs page for more.
Multi-Program Dashboard
We’ve added the ability for Lithic customers to have multiple programs under the same login in Lithic Dashboard. Programs can set or change user access permissions across all programs, or specific to a single program. Thanks to these changes, you can easily launch and manage multiple card programs within a single dashboard. See our changelog for more.
Statements for Charge Cards
We released statement events for charge cards. Now, when Lithic generates charge card statements, you can be notified and build workflows on that event (like sending customers an email about their new statements, for example).
Open Roles 🤩
- We have a number of open roles, including: Risk Lead, Senior Analytics Engineer, and Senior Software Engineer, and others.
New Podcasts 🎧
- Stephen Sikes, Public’s COO, joined us to chat about Public’s new bond product and the effects higher interest rates are having on retail investors.
- Matt Janiga, Director of Regulatory and Public Affairs at Trustly, came back on the podcast to distill the CFPB’s 1033 open banking proposed regulations.
- Alloy CEO Tommy Nicholas came on the podcast to talk about Alloy’s 2023 Compliance report, opportunities for fintech automation, and lessons from Alloy’s early days.
Want to get in touch? Contact us.
