Home > News > Top Stories > Bond Introduces White Label Commercial Charge Card Solution

Core Banking, Fintech

Bond Introduces White Label Commercial Charge Card Solution

Bond Financial Technologies Inc., the leading embedded finance platform, today unveiled the industry's first white label solution that allows B2B SaaS platform providers to launch their own commercial charge cards without writing a single line of code. With a fully featured, branded platform including built-in compliance and requiring minimal engineering effort, SaaS companies can unlock new revenue streams, build brand loyalty, and meet their customers' needs by offering better and more relevant financial products.

Total volume of payments made with a commercial card is expected to reach $1 trillion by 2024 as businesses modernize away from check payments. Leading this growth is the use of on-demand virtual cards over paper checks as it helps companies reduce manual or paper-based processes, reduces their costs, generates a new revenue stream, and has built-in protections against fraud and misuse.

Bond's new White Label solution makes it effortless for B2B SaaS platforms to launch commercial card programs and tap into this growing market across multiple verticals that include:

Expense & spend management: More and more finance departments are turning to platforms to control business spending and reporting while automating manual processes. Now, any SaaS platform focused on managing expenses and spend, can issue its own branded cards – like Brex, Ramp and Airbase – either directly to its customers' employees or for specific purposes, enhance those cards with custom spend limits, and integrate the rich transaction data into reports and insights in a matter of weeks not months. Since launching its commercial charge card program with Bond, Cledara has helped its customers to manage SaaS spending across thousands of vendors and rapidly scaled its subscription and interchange revenue.
Service management: Home and property repair services have increased their addressable audiences by turning to service management platforms to manage scheduling, billing, customer acquisition, and other tasks so technicians can focus on their service jobs. Now, field service management platforms such as ServiceTitan, Jobber, or HouseCall Pro can issue one-time use or recurring cards to technicians on the ground for a specific job, property, or service area that reduces manual paperwork and reconciliation.
Other SaaS platforms: Commercial charge card use cases are relevant across many other SaaS platforms. Fleet and logistics platforms can better manage spend and reporting; bookkeeping and tax platforms can further reduce manual processing; and treasury management platforms can build tools on top of high-fidelity transaction data.

These solutions uniquely create more integrated, value-added experiences for customers of SaaS platforms, unlock a new revenue stream from interchange revenue, increase customer loyalty and brand equity, and provide access to greater insights from spend data, which can enhance the platforms' core products and increase customer acquisition efficiency.

"Our customers kept telling us that they wanted to launch a commercial charge card product, but they just didn't have the engineering resources allocated to their roadmaps to execute on the product offering, Bond listened, and we're proud to be the only fintech infrastructure platform that allows brands to launch a B2B charge card product without the need to write a single line of code. Bond White Label enables companies to go to market with complete trust in a fully functioning and compliant financial product."

- Roy Ng, CEO and co-founder

Until now, if a company wanted to offer a branded charge card, it would have meant a long and painful process: establishing relationships with card issuers, manufacturers, banks, and card networks, then building complex technical integrations with each. Bond has drastically simplified this process. When a company partners with Bond, it benefits from pre-existing partnerships and integrations; with one single agreement it can launch a card by working just with Bond's APIs. Bond White Label pushes this concept even further, eliminating the need for an API integration. Now, a company can go live without writing a single line of code.

Bond's White Label product is the only full no-code commercial credit card solution. Complete with compliance, underwriting, and financing, Bond White Label provides a one-stop solution right out of the box that gets companies to market fast and with complete confidence in their credit capabilities on Bond.

About Bond
Bond enables any company to become a fintech. Through Bond's full-stack embedded finance platform, customers can offer personalized and compliant financial products to their end users, including high-value-add products such as consumer and commercial charge cards. Bond was founded in 2019 by industry veterans from Blackrock, Goldman Sachs, SAP, SoFi, and Twilio, with deep roots in financial services, technology and enterprise software. Bond is a remote-first company, with office locations in San Francisco, New York City and Salt Lake City.

Spotlight

Indirect Tax Policy: 2024 Trends

This election year will have a significant impact on long-term indirect tax rules, rates, and risks. More immediately, federal, state, and local tax policymaking, fiscal conditions, and technological disruptions will muddle the short-term indirect tax environment in the United States. This white paper will cover the important tr

More featured news

Spotlight

Indirect Tax Policy: 2024 Trends

Related News

Financial Management

Synechron Launches 'Synechron Nexus' AI Solutions Suite in Fulfilling the Promise of AI With Ready-to-use Solutions

Synechron | February 02, 2024

Synechron, Inc., a leading global digital transformation consulting firm focused on financial services and technology organizations, announces the launch of its Synechron Nexus suite of nine Artificial Intelligence (AI) solutions that are ready to be deployed within weeks. This array of generative AI-led solutions was designed to span the nexus between human expertise and AI, while enabling users to automate manually intensive tasks, increase project speed, drive operational efficiencies, and reduce costs across various key business tasks. Each solution, divided among three value streams, allows Synechron clients to improve their operations, reduce friction in their processes and boost productivity. Business Growth: Practical, innovative applications that enhance business capabilities Synechron Amplifai is a GenAI-powered market research solution. Its automated research capability saves significant time in a wide range of use-cases, reducing the tedium of gathering, analyzing and reporting market news, trends and strategies. Synechron Clarifai is a tool for summarizing and analyzing call-center transcripts. Conversations are flagged for non-compliance and further human review/actions. Synechron Simplifai centralizes project portfolio data and metrics for streamlined executive decision-making, informing effortless, data-backed decisions for executive and steering committee groups. Operational Efficiency: Advanced solutions to streamline processes and elevate internal operations Synechron Nexus Chat is built on a conversational AI model, understands and engages in a comprehensive range of scenarios and supports plug-ins for real-time data and integration, while delivering human-like conversational responses and text, safely and securely. Synechron Replai is an AI-driven, RFP and proposals tool, streamlining proposal creation with high-quality, insightful responses, with the ability to search the internal knowledge repository for fast access and content re-use. Synechron Unifai is an AI-driven HR solution, designed to simplify interactions between company HR functions and employees, such as policy information and employee-specific payroll details. Synechron Identifai collects comprehensive online market intelligence and provides an in-depth understanding of business, emerging technology trends, or any research topic. Developer Productivity: Toolkit to optimize timelines, minimize costs, and automate practices across the Software Development Lifecycle (SDLC) Synechron Codifai is an SDLC productivity improvement tool, using automation in code generation, unit test case generation, legacy code migration, code optimizations, and automatic code documentation. It works closely with Synechron Verifai which addresses software testing aspects. Synechron Verifai is a GenAI tool for SDLC productivity, using automation in code generation with a focus on QA test case generation, automated test script generation, synthetic test data generation, and bug detection and bug fixing. It works closely with Synechron Codifai which addresses software development efficiency. This new Synechron Nexus AI suite of real-world, practical business solutions, combined with the five formalized RiskTech.AI Accelerators (launched in October 2023), leverages Synechron's AI Practice expertise globally. The creation of AI-led business solutions has been a passion of Synechron's for over a decade, and the firm's commitment to innovative excellence has won the firm eight prestigious AI industry awards to date. Faisal Husain, Synechron's Co-founder and CEO, said of the launch of the Synechron Nexus AI Suite of solutions, "We are proud to be releasing this extensive array of AI-enhanced solutions that go beyond the hype, and provide significant, tangible benefits to business operations. AI and GenAI-rich tools are not just ideas we offer to our clients, but key process accelerators that we ourselves at Synechron are deploying across our company, as we offer ways to integrate the benefits of this technology with human expertise." Ryan Cox, Co-head of Synechron's AI Practice in the UK, added, "Our team has developed, tested, and successfully integrated these advanced AI solutions. Our approach is to strategically guide our clients to integrate AI effectively within their business processes. We identify the key areas where AI can bring the most impact, aligning our solutions to their unique business needs. This targeted approach ensures significant value creation with maximum benefit." Prabhakar Srinivasan, Co-head of Synechron's AI Practice in Bangalore, India, commented, "Artificial Intelligence has proven to be a wonderful force for driving business enhancements by quickly synthesizing extraordinarily large data sets. The Large Language Models used learn over short span of time on how to optimize each firm's proprietary information, thereby boosting productivity and allowing businesses to realize time and cost savings as they optimize tasks." About Synechron At Synechron, we believe in the power of digital to transform businesses for the better. Our global consulting firm combines creativity and innovative technology to deliver industry-leading digital solutions. Synechron's progressive technologies and optimization strategies span end-to-end Artificial Intelligence, Consulting, Digital, Cloud & DevOps, Data, and Software Engineering, servicing an array of noteworthy financial services and technology firms. Through research and development initiatives in our FinLabs we develop solutions for modernization, from Artificial Intelligence and Blockchain to Data Science models, Digital Underwriting, mobile-first applications and more. Over the last 20+ years, our company has been honored with multiple employer awards, recognizing our commitment to our talented teams. With top clients to boast about, Synechron has a global workforce of 15,000+, and has 48 offices in 19 countries within key global markets.

Core Banking

Webull partners with Dow Jones to drive greater financial literacy and empower retail investing decisions

Webull Corporation | January 30, 2024

Webull, a leading online broker for global investors, has launched an initiative to drive financial literacy, announcing its partnership with Dow Jones, a global news and business information services provider and the publisher of The Wall Street Journal (WSJ). The agreement aims to drive greater levels of financial literacy among retail investors by empowering Webull customers with curated award-winning content from The Wall Street Journal, including news, analysis, and essential insights on managing personal finances. The collaboration provides access to the publication's trusted and reliable journalism to help Webull users make better educated and informed decisions around their financial goals. Webull users will receive a curated round-up of WSJ articles on its news feed within the app. New and renewing Webull customers will also receive a WSJ subscription. "Webull was founded on the principle of democratizing investing and making it more accessible and inclusive - especially for first time investors. In this regard, we've already seen success, with a robust number of our active members being first-time investors," said Anthony Denier, Webull Group President. "Through this partnership with Dow Jones, we want to put the power of the world's leading financial publication straight into the hands of our customers with content that helps investors make better financial decisions with greater confidence." "Financial literacy, powered by trusted and credible journalism, leads to better decisions," said David Martin, Chief Revenue Officer for Business Intelligence at Dow Jones. "We are delighted to work with Webull and look forward to putting the Journal's high-quality and award-winning business news, information and analysis at the fingertips of millions of Webull users on its platform to help elevate their decision making process." Financial literacy has been identified as a key barrier to entry to investing for many people, with research from the World Economic Forum revealing that 40% of non-investors chose not to invest because they do not know how or find it too confusing. In addition, approximately 70% said they would be more likely to invest, or invest more, with expanded financial education. With the trend of retail investors skewing younger, the initiative aims to address knowledge gaps by providing access to actionable and outcome-oriented information to help educate and shape the way new and existing users navigate fast-changing markets in an informed and responsible manner. About Webull Webull is a leading digital investment platform built on next generation global infrastructure. The Webull Group is headquartered in St. Petersburg, Florida and backed by private equity investors located in the United States, Europe and Asia. Webull serves tens of millions of users from over 180 countries, providing retail investors with 24/7 access to global financial markets. Users can put investment strategies to work by trading global stocks, ETFs, options and fractional shares, through Webull's trading platform, which is currently available in the United States, the United Kingdom, Hong Kong, Singapore, Japan, South Africa, Australia, Indonesia, Mexico, Brazil and Canada. Webull also offers investment education services, with lessons covering a wide range of topics. About Dow Jones Dow Jones is a global provider of news and business information, delivering content to consumers and organizations around the world across multiple formats, including print, digital, mobile and live events. Dow Jones has produced unrivaled quality content for more than 130 years and today has one of the world's largest news-gathering operations globally. It is home to leading publications and products including the flagship Wall Street Journal, America's largest newspaper by paid circulation; Barron's, MarketWatch, Mansion Global, Financial News, Investor's Business Daily, Factiva, Dow Jones Risk & Compliance, Dow Jones Newswires, OPIS and Chemical Market Analytics.