5 Questions with Mario Furgiuele

We’re taking some time to catch up with the senior leadership team at Karmic to learn more about their vision for the future of Karmic and the payment card and expense management industry as a whole. First up, we asked Karmic’s Chief Executive Officer, Mario Furgiuele, five questions about Karmic’s position in the marketplace.

1. What is Karmic’s single greatest advantage in the business prepaid card space?

Simply put, we make life easier for business owners and CFOs. From instant enrollment to easy funding and spending controls, we’re driving contemporary solutions into the market. We know, anecdotally, that some of our customers and prospects are spending as many as six hours a week reconciling expenses. When we reduce the time spent on expense management, that puts as many as 300 hours a year back in the hands of a small business owner to fuel innovation.

2. Why should companies choose Karmic for customized prepaid payment technology?

Business owners, CFOs, and financial administrators are constantly on the lookout for new features to improve the efficiency with which they do business. In many cases, traditional financial institutions are unable to move quickly enough to satisfy the rapidly changing needs of businesses.

For example, a corporate credit and account system with multiple authorized users may have worked in the days of centralized headquarters and procurement departments. However, in a modern company with remote workforces and vastly differing requirements by division or location, allowing multiple users to access the same account is a recipe for disaster when the time comes for reconciliation.

We’re actively looking to develop solutions that flex and grow based on the needs of our customers and partners. Karmic’s strength lies in our ability to go beyond the provision of a “one size fits all” solution to create a flexible, customized experience.  

3. What is the most important thing you’re working on right now?

Our latest project is still a carefully guarded secret, but I’m very excited about it! Let’s just say that it’s the next step of our continuous quest to improve the customer’s journey. We are keeping a close eye on the ways our customers use our products so that we can implement features and updates that enhance the user experience and our expense management capabilities. In particular, we’re zeroing in on the functionality we provide for reporting within groups and teams in an organization.

Our product development team knows nobody likes to wait; that’s why we are working to reduce the time it takes from the initial application to the final approval, speed up the delivery of new cards, and cut down on the time required to move money from source accounts to our prepaid cards for business. As part of this process, we’re driving more automation in our systems which is good for us, and good for our customers and partners.

4. Thinking back to the first product you brought to market, what about product development has changed, and what has stayed the same?

In essence, we have built a better mousetrap. The product development methodologies are the same, but new developments in technology have allowed us to bring new products to market progressively faster and with less complexity. With more clarity around the guidelines from regulators and issuers, we’re able to factor in important considerations from the outset, and that has advanced the pace of product development.

5. Finally, are you willing to share what gets you out of bed in the morning?

The energy at this company is nothing short of amazing. We have an unbelievable diversity of experience, and industry and technical knowledge. I know that there is no problem our collective minds can’t solve and no solution we can’t work towards in cooperation with our partners. I love getting hands-on in our business, from taking customer service calls to product ideation and working on business development opportunities. Working at Karmic is an adventure, and I look forward to a new one every day!


Karmic is a leader in the development and implementation of payment cards and mobile expense management software. Contact our sales team today to discuss the ways a “Powered by Karmic” solution can help manage expenses for your business.