Marqeta Announces Fouzi Husaini as Company’s Chief Artificial Intelligence Officer

September 23, 2024 at 01:30 AM EDT

Husaini plans to expand and scale Marqeta’s AI capabilities, bringing over 25 years of experience to help drive greater ROI for Marqeta customers unlocking purchasing power for all

Marqeta (NASDAQ: MQ), the global modern card issuing platform that enables embedded finance solutions for the world’s innovators, today announced that Fouzi Husaini has joined the company as its Chief Artificial Intelligence Officer. Previously at Capital One and Amazon, Husaini will play a pivotal role in scaling Marqeta’s AI organization to help increase purchasing power for all by reducing risk and improving consumer and commercial rewards, while also helping accelerate our pace of innovation.

"We’re thrilled to have Fouzi on board. His deep knowledge of AI and machine learning, combined with decades of on-the-ground AI leadership at top companies, will be instrumental in shaping our technology roadmap and leveraging AI to expand our capabilities in transaction intelligence, fraud prevention, and customer service,” said Randy Kern, Chief Product and Technology Officer, Marqeta.

Most recently, Husaini served as the Vice President of Machine Learning Engineering at Capital One, where he focused on building ML models to support Capital One’s credit products and services, including marketing, fraud, small business, and more. Before Capital One, he led a technical team at Amazon who delivered AI/ML customer-facing experiences to Alexa customers, and also focused on Amazon’s machine learning risk platform.

Last year, Marqeta announced its first investments in generative AI, including Marqeta Docs AI, an AI-powered question and answer tool that allows customers to quickly navigate the Marqeta Docs site by asking questions specific to their use cases. Marqeta has continued to invest in AI and machine learning to improve risk decisioning. The appointment of Husaini to the team aims to accelerate and expand the rollout of additional key features into Marqeta’s platform.

"I'm honored to join Marqeta at such a pivotal time of growth and momentum,” said Fouzi Husaini, Chief Artificial Intelligence Officer, Marqeta. “Payments is inherently a data-driven business, and its potential to harness AI and machine learning to solve complex customer problems is enormous. I'm excited to transform how we leverage this wealth of data to build smarter, more innovative solutions for our customers."

About Marqeta (NASDAQ: MQ)

Marqeta makes it possible for companies to build and embed financial services into their branded experience—and unlock new ways to grow their business and delight users. The Marqeta platform puts businesses in control of building financial solutions, enabling them to turn real-time data into personalized, optimized solutions for everything from consumer loyalty to capital efficiency. With compliance and security built-in, Marqeta’s platform has been proven at scale, processing more than $200 billion in annual payments volume in 2023. Marqeta is certified to operate in more than 40 countries worldwide and counting. Visit www.marqeta.com to learn more.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements expressed or implied in this press release include, but are not limited to, quotations and statements relating to changing consumer preferences; increasing consumer adoption of certain digital payment methods, products, and solutions; which payment, banking, and financial services products and solutions may succeed; technological and market trends; Marqeta’s business and growth; Marqeta’s products and services; and statements made by Marqeta’s senior leadership. Actual results may differ materially from the expectations contained in these statements due to risks and uncertainties, including, but not limited to, the following: any factors creating issues with changes in domestic and international business, market, financial, political and legal conditions; and those risks and uncertainties included in the “Risk Factors” disclosed in Marqeta's Annual Report on Form 10-K, as may be updated from time to time in Marqeta’s periodic filings with the SEC, available at www.sec.gov and Marqeta’s website at http://investors.marqeta.com. The forward-looking statements in this press release are based on information available to Marqeta as of the date hereof. Marqeta disclaims any obligation to update any forward-looking statements, except as required by law.