Zeta 2024: Progress and Perspectives for 2025

Wishing you and your loved ones a bright and prosperous start to 2025.

My team and I at Zeta remain steadfast in our mission of empowering financial institutions to modernize their technology stack. In 2024, we deepened our commitment, forging partnerships with several leading institutions who share our mission.

I’m excited to share our key achievements from 2024 – and our key 2025 initiatives.

2024 – Meaningful Traction and Momentum

Over the last decade we have invested $350M in R&D, representing millions of hours spent on building the most modern processing platform globally. We hit new milestones in performance and growth in 2024.

• 20+ million accounts are now live on our platform globally. We’re on track for 70+ million accounts in the next couple of years with several major programs underway.
• Our card program with a prominent digital-first issuer in the US reached 200,000 cardholders within less than a year of its launch.
• PayZapp, HDFC Bank’s payments app, scaled 3X to over 16 million users and $70+ million in monthly spend.
• We publicly demonstrated population-scale readiness for credit operations on our platform by processing 208 million credit accounts in just 40 minutes.

Sign-ups and Program Launches

• A major US-based financial institution with tens of millions of accounts signed up with us for a multi-year transformation program to replace 5 aging payments platforms.
• Our credit card program for a US Top 20 issuer went live early last year.
• HDFC Bank launched Pixel a first-of-its-kind multi-network enabled digital credit card offering 100% digital onboarding, instant issuance, and DIY rewards.

Recognition and Growth

• Sparrow Card, a Zeta-powered credit card focused on expanding financial access to underserved Americans became the #2 ranked credit card on Credit Karma and won the 2024 Best Card Program award by Tearsheet.
• PayZapp, developed with HDFC Bank, won the global Celent Model Bank Award 2024 for payments innovation, and is the #1 ranked bank-led payments app in India.
• AWS featured our Zero Trust Architecture implementation – a modern approach that eliminates implicit trust in any system – as a global case study for banking-grade security in the cloud.

Perspectives That Shaped Our Thinking in 2024

Our independent research and discussions with industry experts have shaped our perspectives on key industry challenges. You may explore these at your convenience.

• The Future of Cards is Now eBook that explores 12 transformative cardholder experiences that every issuer should explore
• Datos Insights roadmap to mature and high performing card programs
• When the Levee Breaks, Zeta’s 360° overview of the capabilities that differentiate next-gen card processing tech from legacy tech
• Geoffrey Moore’s guest webinar on why FIs fail at modernization and the 4 zones of innovation

I addressed industry leaders at CBA Live 2024 on how AI is reshaping banking and why banks must prepare for its far-reaching impact in the coming decade. You can catch the key takeaways from my presentation in this short playlist here.

Our Chief Compliance Officer, Karla Booe, contributed to industry discussions with her perspectives on regulation. Here’s a few of them:

• Analysis of the US approach to regulating AI
• Regulatory landscape under Trump 2.0
• CFPB Section 1033 Final Ruling: A comprehensive examination and its implications for issuers.

Accelerating Growth in 2025

As we enter 2025, we have significant milestones on the horizon that will shape our next phase of growth:

• We’re on track to launch three major card programs in the US this year
• Our growth trajectory is stronger than ever with three additional issuers in final contract stages
• We are also in advanced discussions and RFP processes with over half-a-dozen potential partners
• We will be announcing the launch of our AI platform, purpose built for card support and servicing

As the banking industry embarks on another fantastic year, we’re honored to be partnering with institutions at the forefront of its transformation. I welcome the opportunity to connect and discuss how we can support your strategic initiatives this year. Please do reach out if I can be of any assistance.

Bhavin Turakhia
Co-Founder & CEO, Zeta