Today, people expect more than ever before from their bank cards. For card providers, a competitive rate of interest is no longer enough to attract and retain new customers. Now, when companies choose and use a corporate card, they expect a range of benefits – like discounts and rewards systems.
On top of that, digital banking services are the new norm. With a host of digital-first challenger banks entering the market, companies can take their pick from a wider range of solutions. To stay competitive, card providers need to find new ways to differentiate their offers, and keep corporate customers happy and loyal.
One way of doing this is to provide card users with powerful and simple-to-use expense management technology – keeping them expense happy. Here are 3 of the benefits on offer.
1. Increase card spend
Handling expenses using manual processes – be that pen and paper or spreadsheets and emails – is time-consuming, not to mention frustrating. At some point, most corporate card users will have thought – ‘that’s another receipt I need to process’. And so the hassle of doing expenses becomes a blocker to corporate card spending – as businesses elect other payment methods, like bank transfer or invoice.
For that reason, taking the hassle out of expense management makes card spending more appealing to businesses and card users themselves. Put simply, if card users can manage expenses quickly and easily, chances are they’ll make more regular use of the card.
2. Added value
Corporate card providers historically inspire brand loyalty – and they still do today. With most corporate cards claiming to offer a competitive rate of interest and a whole host of benefits and rewards besides, the difference between options becomes less prominent.
When a company signs up with a card provider, they want a seamless experience, and with seemingly everyone launching a card these days, added-value services are the difference makers.
With a white label expense management solution, card providers can take tried and tested expense tech and add it to their offer without sending customers away to a third-party provider. Giving card users a seamless expense experience under one trusted brand – from transaction to booked expense.
3. Increase card uptake
Earlier in the article, we mentioned the ‘hassle of doing expenses becoming a blocker to corporate card spending’. By offering integrated expense management technology alongside the card, businesses can easily manage expenses from the transaction all the way to bookkeeping.
This presents an opportunity to increase card uptake across the customer base for card providers. With an easy way to manage expenses, many businesses are likely to opt for more cards and minimise the use of other payment methods.
For a long time, card users have just accepted the complexity and inconvenience of managing expenses – or gone for other payment methods. With white label expense management, card providers can show them that it doesn’t have to be that way. Simply snap a photo of a receipt, and our tech takes care of the rest.
Findity does one thing – easy expense management. Our white label expense management platform puts proven tech in your brand colours, so you can keep corporate card users expense happy.
Book a demo to see how white label expense management could work for you.
