UK-based banking group and lender Metro Bank announced on Monday it has launched AI-powered receipt management technology for business customers through its mobile app. According to Metro, the technology enables businesses to capture, store and link their receipts to transactions in their mobile business app.
“Receipts are captured using the customer’s smartphone camera. Metro Bank’s app then uses artificial intelligence and machine learning tools to reconcile the receipt to the customer’s transaction history automatically, with VAT identified from the receipt so it can be auto-populated.”
Metro further noted it is partnering with Canadian technology firm Sensibill to offer this new feature, which requires no sign-up and is completely free for the bank’s business customers. David Thomasson, Chief Commercial Officer at Metro Bank, stated:
“We’re thrilled to partner with Sensibill to provide our business customers with essential money management tools, easily accessible from our mobile app. These will empower SMEs to free up time in a way that wasn’t possible before, to spend running and growing their businesses.”
The new features are currently available for customers using an iOS device, with the technology set to be rolled out to Android customers int eh upcoming weeks. Metro added that the rollout to all business customers follows a successful beta-trial of the software last year.