Emburse and Mastercard Partner to Help Financial Institutions Deliver Robust Corporate Expense Management Capabilities
Emburse partners with Mastercard to enhance expense management for card-issuing financial institutions (FIs). This collaboration allows FIs to offer a custom-branded Emburse solution, enabling corporate clients to easily capture and manage their card expenses through a mobile app. With features like automatic processing and advanced AI-based analytics, the integrated system aims to streamline reconciliation processes and reduce fraud. Emburse's innovative expense solutions are used by over 16,000 clients globally, highlighting the partnership's potential to improve operational efficiency in the financial sector.
- Collaboration with Mastercard enhances Emburse's market position.
- Integration simplifies expense management, leading to improved user experience.
- FIs can attract new clients and retain existing ones through enhanced capabilities.
- AI-based analytics reduce fraud risk and streamline operations.
- None.
Emburse, a global leader in expense management and accounts payable automation solutions, is collaborating with Mastercard to provide card-issuing financial institutions (FIs) with deep expense management capabilities. Mastercard-issuing FIs can now offer a custom-branded version of Emburse and deliver an integrated solution that empowers corporate clients to easily capture, verify and reconcile card spend.
Corporate card users can capture receipt images directly within Emburse’s mobile app, match them with the appropriate transaction data and easily create and submit detailed, line-item expenses without the need to manually enter transaction data. These data-rich expense reports can then be routed for automatic processing, eliminating the need for time-consuming and labor-intensive manual reconciliation. The solution also enables customers to use Emburse’s sophisticated AI-based audit and analytics capabilities to improve the user experience, manage spend and reduce fraud.
“We’re very excited to partner with Mastercard to help simplify and streamline the user experience for its corporate cardholders across the globe,” said Eric Friedrichsen, CEO at Emburse. “The potential benefits that Emburse and Mastercard can bring to banks, their clients and cardholders are immense. We look forward to launching with our first financial institution later this year, and continuing to humanize work for FIs and their corporate customers by providing them with powerful, user-friendly, mobile-centric expense solutions.”
The integrated solution enables FIs to deliver sophisticated, unified spend-management capabilities to their corporate clients — a compelling advantage against new market entrants in the spend management space. This enables FIs to win new clients, retain existing customers and drive incremental card spend due to a faster submission and reconciliation process. Emburse also makes it easier for FIs to put controlled virtual card management in the hands of every employee at their corporate clients.
“In today’s digital economy, companies are looking for innovative technology solutions to reduce complexity and improve operations. That’s why Mastercard is modernizing the business payments ecosystem to deliver greater simplicity, automation and efficiencies,” said Ron Shultz, executive vice president, New Payment Flows, North America at Mastercard. “Through our partnership with Emburse, we’re helping financial institutions deliver a sophisticated digital solution to help companies of all sizes modernize their expense management processes and maximize efficiencies.”
About Emburse
Emburse humanizes work by empowering business travelers, finance professionals and CFOs to eliminate manual, time-consuming tasks so they can focus on what matters most. Emburse offers a growing portfolio of award-winning expense and AP automation solutions, including Emburse Abacus, Emburse Captio, Emburse Cards, Emburse Certify, Emburse Chrome River, Emburse Nexonia, Emburse SpringAhead and Emburse Tallie.
Its innovative offerings are tailored to meet the unique needs of specific industries, company sizes and geographies, and are trusted by more than 9 million users in more than 120 countries. Over 16,000 customers, from start-ups to global enterprises, including Boot Barn, Grant Thornton, Telefónica, Lufthansa Systems and Toyota, rely on Emburse to eliminate manual processes, make faster, smarter decisions and help make users’ lives — and their businesses — better. Emburse is recognized as a leader in expense management and accounts payable automation by analyst firm IDC, and has received multiple awards for its high levels of customer satisfaction.
For more information on Emburse, visit emburse.com, call 877-EMBURSE or follow the organization’s social channels at @emburse.
About Mastercard (NYSE: MA), www.mastercard.com
Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210331005239/en/
FAQ
What is the purpose of the Mastercard and Emburse partnership?
How does Emburse improve expense management for corporate card users?
What are the benefits of the integrated solution for financial institutions?
When is Emburse expected to launch with its first financial institution?
How many users rely on Emburse's solutions globally?
