Case Study: Strengthening Lateko Lizings’ Market Position Through Wallester’s White-Label Card Program 💳

Lateko Lizings' executives discussing their successful partnership with Wallester

We at Wallester would like to share the story of our successful partnership with Lateko Lizings, a leading Latvian credit provider and old friend. This case study showcases how our white-label solution modernised Lateko Lizings’s credit card program. Join us as we delve into the details of this collaboration, from the initial exploration to the full launch, and examine the benefits and long-term impact of the partnership on both companies.

Introducing Lateko Lizings

Lateko Lizings, a leading Latvian credit provider with over two decades of experience, has built a solid reputation in the non-banking consumer credit market. With a deep understanding of the Latvian market, the company has developed a diverse range of products tailored to meet the financial needs of all individuals. By offering unsecured commodity and cash loans, the company has established a vast customer base and attained substantial growth and prosperity.

Lateko Lizings’ Need for Payment Cards

In 2017, as part of its ongoing efforts to adapt to the evolving financial needs of its clients, Lateko Lizings expanded its offerings by introducing credit cards to its clientele. However, the company later identified the need to modernise the solution further, as the existing partner could not adapt sufficiently to the rapidly changing fintech landscape. In 2021, Wallester stepped in to take over and enhance the program, enabling Lateko Lizings to maintain its competitive edge as a versatile and forward-thinking financial service provider.

With a new companion onboard, Lateko Lizings sought to improve its credit cards in several key areas. First, the company aimed to enhance card features and functionality to provide a better user experience for its customers. Due to the limited white-labelling capabilities of the previous solution, the company was also interested in establishing stronger brand recognition and customer loyalty by ensuring that the card would exclusively be associated with the company and not the issuer.

Establishing the White-Label Card Program

As mentioned earlier, Wallester’s white-label card program offered Lateko Lizings a comprehensive and innovative solution that addressed their primary concerns and set them apart from competitors in several ways:

👍 Customisation and branding: The new white-label solution allowed Lateko Lizings to fully customise the card’s appearance to its liking, concentrating the design on the company’s brand and not on the partner. This created a strong brand association and increased customer loyalty, as the card was instantly recognizable as part of the credit provider’s identity.

🤌 Enhanced features and functionality: The white-label card program provided a full suite of features essential for Lateko Lizings to offer a superior user experience to their customers. This included not only online payments and 3DSecure protection for transactions, which were crucial for the company, but also such innovative capabilities as instant freezing and unfreezing of the card, PIN reminders and changes within the application, real-time monitoring of the transactions, and compatibility with various digital wallets, such as Google Pay, Samsung Pay, and Garmin Pay.

🙌 Flexibility and innovation: Wallester’s white-label solution offered a flexible, cutting-edge approach to card-issuing, allowing Lateko Lizings to remain truly competitive in the evolving fintech industry. By partnering with an industry-leading provider, Lateko Lizings could rely on a companion committed to continuous improvement and innovation, ensuring that the company’s payment cards stay up-to-date with the latest industry trends and advancements.

✌️ Cost-effectiveness and long-term planning: The partnership between the two companies allowed Lateko Lizings to plan its expenses on the card product in the long term, thanks to transparent service tariffs. This eliminated the need for additional investments in technological improvements, enabling the company to focus on other aspects of its business and allocate resources more effectively.

Overview of the Implementation Process

The implementation process of the white-label card program involved several stages, which were carried out collaboratively by both parties:

  1. Initial exploration: The first step involved Lateko Lizings thoroughly understanding Wallester’s solution and assessing its features and capabilities to ensure they aligned with their objectives. This stage included evaluating the available tools, technologies, and resources to verify that the new solution would meet the company’s requirements.
  2. Integration and synchronization: Lateko Lizings and Wallester integrated the card program into the company’s existing ecosystem. This involved synchronizing the two servers and databases, ensuring seamless communication, and setting up the necessary infrastructure to support the new solution. Both parties collaborated closely during this stage to ensure a smooth integration process that would minimize disruptions to the business.
  3. Testing and troubleshooting: Both teams thoroughly tested the integrated solution to identify and resolve any issues that arose during the implementation process. This was crucial in ensuring the smooth operation of the credit cards and minimizing any potential disruptions for customers. Additionally, the testing phase allowed us to fine-tune the solution and address any gaps in functionality or performance.
  4. Training and support: After being provided with all the necessary training and support, Lateko Lizings’ staff was well-equipped to manage the new card program effectively. The process included training on using the in-house platform to manage the cards and providing continuous support for any questions or issues that emerged at the early stages of the implementation, which is accessible for the company to this date. By equipping the company’s staff with the necessary knowledge and resources, Wallester ensured a smooth transition to the new program.
  5. Full launch: Once the integration, testing, and training were complete, the new card program was fully launched, allowing Lateko Lizings to offer their customers enhanced credit cards with improved features and functionality. The launch was accompanied by marketing and promotional activities to raise awareness among existing and potential customers about the upgraded payment cards.

Aleksandra Repina commented on the success of the collaboration, stating that “the entire implementation process, from initial negotiations to the full launch of the new program, took six months.” This timeline demonstrates the “efficiency and effectiveness of the collaboration between Lateko Lizings and Wallester, resulting in a successful partnership that delivered a competitive and innovative card solution for the end clients,” added Aleksandra.

Here’s a statement from Svetlana Lebedeva, a member of the management board at Lateko Lizings:

Evaluating the Results

“The white-label solution had a transformative effect on the card program and our overall operations,” stated Irina Grabovska.

Enhanced customer experience: The upgraded card program offered customers various innovative features and capabilities, contributing to a superior user experience. “In turn, the improved customer experience translated into higher customer satisfaction and loyalty, further driving our business growth,” concluded Irina.

Increased card usage: The most striking evidence of the solution’s impact was the substantial increase in card usage. With the average purchase amount doubling, it became clear that customers were more engaged and satisfied with the new solution. This growth in card usage, coupled with an enhanced customer experience, played a crucial role in accelerating the expansion of Lateko Lizings’ card portfolio.


Wallester’s white-label solution provided Lateko Lizings with a comprehensive and innovative solution that addressed their need to modernize their existing card program. The successful partnership resulted in a significantly improved card offering with enhanced features and functionality, increasing card usage, customer satisfaction, and overall business growth.

The CEO and Co-Founder of Wallester, Sergei Astafjev, reflected on the significance of their partnership with Lateko Lizings, stating,

“The collaboration between Lateko Lizings and Wallester demonstrates the power of combining the expertise of an established credit provider with the innovative capabilities of a fintech company,” added Dmitri Logvinenko, Co-Founder, COO & CTO of Wallester. “

The partnership not only enabled our client to stay competitive in the rapidly changing financial landscape but also opened up new opportunities for further growth and expansion. As a result, they can now focus on their core business objectives, confident in the knowledge that their card program is supported by a robust and innovative solution tailored to their needs,” concluded Logvinenko.

Discover more about Lateko Lizings and explore their comprehensive range of services by visiting their website at


To learn more about how you can launch your own white-label card program with us, please contact us directly.

Please, improve your experience!

You’re using an unsupported web browser. As Wallester supports the latest versions, we highly recommend you use an up-to-date version of one of these browsers: