CardWorks
CardWorks, Inc. specializes in providing third-party services for consumer credit cards, focusing on payment processing solutions for financial institutions and nontraditional card issuers in the United States and Canada. Established in 1987 and headquartered in Woodbury, New York, with additional offices in Pennsylvania and Florida, the company offers a range of servicing solutions for various traditional MasterCard and Visa products, including virtual and prepaid cards. As a consumer finance lender and servicer, CardWorks is committed to a people-centric approach, leveraging data and technology to maintain compliance and enhance service delivery. The company also provides portfolio management services, including backup servicing, operational due diligence, and asset verification, facilitating better understanding of consumer asset performance and reducing operational risks for bondholders, trustees, lenders, and investors. CardWorks operates as a subsidiary of CardWorks, L.P.
Spring Labs is the company building out the spring protocol, a network designed to allow network participants, such as financial institutions, to share information about data, such as credit and identity data, without needing to share the underlying data itself. They allow institutions to directly share information among themselves to verify identities and reduce fraud - all while protecting consumer data. Spring Labs uses an attestation-based approach reducing the risk and severity of data breaches for financial institutions and consumers. The Spring Protocol separates data ownership from data value, allowing competitively-sensitive parties to exchange information directly and in a fundamentally new way. Spring Labs was founded in 2017 and is based in Marina Del Rey, California, United States.
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