Companies like Brim Financial, Float Inc., Caary Capital Ltd., Jeeves Inc., and Neo Financial are part of a growing crop of tech-enabled lenders that are looking to snag a share of the lucrative credit card market from the big banks.

On the personal credit card side, companies like Brim and Neo are trying to lure customers with promises of more seamless, app-based digital experience, as well as creative rewards programs that partner with specific brands and perks like no foreign transaction fees.

The FinTech credit card space has gathered steam in recent years, with significant growth in the United States. San Francisco-based Brex Inc. launched its first card in 2018 and was valued at US$7.4 billion in April, and New York-based Ramp Business Co. launched in 2020 and was last valued at US$3.9 billion. Both companies promise a more seamless sign-up experience and continue to add back-end features to help manage expenses.

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