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Expense Management as a Service for
Card Issuers
Can banks become software companies faster than software companies disrupt banks?
Why does this matter now?
Technology is changing the B2B payments landscape.
- It took 50 years for ACH payments to surpass checks in B2B payments in 2018, and we are seeing faster changes with card payments becoming increasingly popular. Commercial cards spend is a $700B market, with the most upside potential as organizations look for automation in key processes around accounts payable, expense management and accounts receivable.
- According to the report by Accenture, B2B commercial card payments is projected to grow 10% YOY until 2022, with a key-driver of this growth being better technology solutions by payment providers.
Fin-tech startups are tapping into this growth
- It is becoming easier to issue cards by partnering with Visa, Mastercard, Stripe, Marqeta. Almost all expense / spend management software companies offer their own corporate card, it’s fast becoming the default way to manage corporate spends.
- With cards getting commoditised, financial tech startups provide better software that caters to changing needs of the customer.
Banks are missing out on this growth
- This trend takes away spend from bank issued corporate cards. To capture this growth, banks need to become software platforms before startups become banks.
- Therefore, best-in-class, cutting-edge software should come packaged with the banks’ corporate cards.
And this is where Fyle comes in
Next generation expense automation software delivered as a service.
One click expense tracking from everyday apps with comprehensive approval configurations and spend controls. Complete solution with mobile apps, one of it's kind integrations with modern apps like GSuite, Office 365, Slack.
Automatic data extraction for accurate data capture from receipts.
Automatic matching with card transactions.
Better visibility and control
Offer complete visibility of card spend with best in class task automation and approval engine.
Automatically remind users to submit receipts.
Automatically reconcile receipts and card transactions.
Reduce fraud and anomalies
Offer machine learning based systems to detect and score risk.
Timely identification of low, medium and high risk expenses.
Reporting, analytics and integrations
Analyse spend data to uncover insights.
Filter spend down to department or team level.
Get better control with spend and budget comparison.
Close books faster with first class integrations with QBO, XERO, NetSuite and SageIntacct.
Increased card spend
Customers expect great software with commercial cards and ease of use impacts card usage. Achieve record spends on your card by powering it with next gen software. Great opportunity for commercial banks to fulfill market needs without adding additional risk.
Why Fyle?
One of the top 10 expense management products in the world (G2 reference).
Product constantly exceeding customers expectations.
Built on a modern API first tech stack that can address complex security requirements of financial institutions. Secure, Scalable and Software that your customers would love.
Loved by leading finance teams across 20 countries
Loved by leading finance teams across 20 countries
Integrate next-gen expense management into your corporate card
