CORE BANKING,FINTECH
PNC Bank | September 28, 2022
PNC Bank today announced a strategic partnership with Blend, a leader in cloud banking software, to digitally optimize the company's end-to-end online mortgage application process for an improved customer experience.
"Over the last few years, we've seen first-hand the growing customer demand for simplified, digital-first interactions, Through our partnership with Blend, we're now able to deliver a state-of-the-art experience that provides an ideal combination of digital self-service technology and support for our customers as they navigate one of the biggest and most important purchases in their lifetimes."
-Peter McCarthy, PNC executive vice president and head of Mortgage
Through PNC's enhanced mortgage application platform, customers now are able to digitally apply for a mortgage and import bank or payroll information directly into their application simply by providing their necessary credentials decreasing the amount of time it takes to locate necessary documents. Once an application is submitted, customers have a single portal for tracking its status, completing outstanding tasks, and reviewing and electronically signing loan documentation. PNC mortgage loan officers also can collaborate real-time with customers through their online portal.
As an organization, our goal is to continue to partner with companies across the country to build the digital-first future of financial services, We're proud to work alongside PNC as they introduce a leading-edge, self-serve digital mortgage application solution — making the overall user experience easier and quicker for their customers and employees,said Erik Wrobel, head of Product at Blend.
About PNC Bank:
PNC Bank, National Association, is a member of The PNC Financial Services Group, Inc. PNC is one of the largest diversified financial services institutions in the United States, organized around its customers and communities for strong relationships and local delivery of retail and business banking including a full range of lending products; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management.
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CORE BANKING,FINTECH
Bond | September 09, 2022
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.
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FINTECH
Expensify | July 26, 2022
Expensify, Inc. (Nasdaq: EXFY), a payments superapp that helps individuals and businesses around the world simplify the way they manage money across expenses, corporate cards and bills, today announced the return of ExpensiCon on May 18-22, 2023, in Puglia, Italy. An exclusive group of world-class accountants and fintech titans are invited to the Italian countryside for five days of community building, thought leadership, networking, roundtable sessions, and surprise events amongst the olive groves. Previous ExpensiCons in Bora Bora and Maui included attendees from PwC, Deloitte, BDO, CLA, Baker Tilly, and EisnerAmper, as well as fireside chats with Travis Kalanick of Uber, Zach Nelson of NetSuite, and Rod Drury of Xero.
"ExpensiCon is how we share our motto 'Live Rich, Have Fun, and Save The World' with our top partners and industry thought leaders to build a new type of community that’s laser focused on the future,” says David Barrett, founder and CEO of Expensify.
"ExpensiCon is how we share our motto 'Live Rich, Have Fun, and Save The World' with our top partners and industry thought leaders to build a new type of community that’s laser focused on the future,” says David Barrett, founder and CEO of Expensify. “And what better place to kick things off than a five-star luxury retreat, worlds away from the distractions of everyday life? It’s the perfect environment to grow productive relationships with the most brilliant minds, and focus on solving the industry’s most pressing problems.”
The event will include a mix of keynotes, roundtable discussions, fireside chats, 1-on-1 networking opportunities and strategy sessions, and VIP events. In addition, attendees and their guests will also experience the beauty of Puglia on curated relationship-building excursions throughout the region that feature pasta making, wine tasting, yacht tours, and more.
Founder & Chief Solutions Officer of QA Business and previous ExpensiCon attendee Clayton Oates mentions, "One thing I loved about how Expensify approached ExpensiCon is that they threw out conventional wisdom about events. Rather than throwing a large-scale, content-rich event focused on short-term impact, at a boring convention center, they instead focused on laying a foundation for collaboration within and outside the accounting profession. Expensify's long-term view, balanced agenda, and ability to create magical experiences in the world's most stunning locations really contribute to the attendees getting the most out of the experience. ExpensiCon is the one event you don't want to miss."
To secure your invite, learn more at expensicon.com.
About Expensify
Expensify is a payments superapp that helps individuals and businesses around the world simplify the way they manage money. More than 12 million people use Expensify's free features, which include corporate cards, expense tracking, next-day reimbursement, invoicing, bill pay, and travel booking in one app. All free. Whether you own a small business, manage a team, or close the books for your clients, Expensify makes it easy so you have more time to focus on what really matters.
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