Virgin Money teams up with start-up spending
See also: New report shows 36% of companies plan to upgrade expense management and expense control Partnership with London-based Expend integrates expense management services into new commercial banking department from Virgin Money. Launched in 2015, Expend aims to help small and medium-sized enterprises (SMEs) manage their expenses while saving time and improving transparency.
“Not only will this solve a core business problem, but it will also enrich the data they have, giving an accurate view of their spending. “
“Expend offers a service that we know will add real value to our customers,” said Graeme Sands, interim head of corporate banking at Virgin Money. “Businesses want to be able to get things done faster and more efficiently, and this expense management service is exactly the kind of help many of them need.
Sands added that Virgin Money has worked with FinTech partners to transform its merchant banking and new “market-leading current account” for SMEs, called M Account for Business.
The Expend platform has been developed to offer a scalable suite of solutions to SMEs at different stages of their business. The startup is working to connect banking and accounting processes so that companies have a clearer picture of their financial situation and can also make more informed decisions based on actionable data.
Read more: Virgin Money emphasizes online presence with 20% branch closures
“This partnership with Virgin Money is a true declaration of our intention to put powerful tools for managing spend and expenses in the hands of small and medium-sized businesses,” said Johnny Vowles, Founder and CEO of Expend.
“Being a part of this innovative project with Virgin Money is the perfect way for us to continue our mission to truly automate complex processes for businesses to maximize their savings in time and money,” added Vowles.
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