Extend, a virtual card and spend management platform, announced a collaboration with Bank of the West, which has more than 600 branches and Commercial Banking Offices across the Midwest and Western United States.
Bank of the West small and mid-size clients can “begin using Extend in minutes, without any technical integration or additional application process required.”
The pairing gives users “a simple, powerful way to control company credit cards and streamline spend management.”
Businesses are often “challenged by tedious, manual processes for managing essential payment tasks, from paying vendors to reconciliation.”
Virtual cards “solve many of these challenges, but access to virtual cards has traditionally been limited to enterprise-sized clients.” That is “no longer true with Extend, which brings the benefits of virtual cards to any business.” When businesses pay with Extend, they can “automate otherwise time-consuming finance operations and get real-time control and insights on company card spending.”
Dominique Fracchia, Managing Director at Bank of the West, said:
“Bank of the West is committed to optimizing B2B payments, and our relationship with Extend offers our clients an efficient, easy-to-use solution for better spend management. Using Extend and their Bank of the West cards, businesses can create, distribute, and manage virtual cards to pay vendors, empower employees, track spending, and more.”
After signing up for Extend and enrolling their Bank of the West Commercial Card(s), users can access Extend via web or mobile to:
- Create unique virtual cards with dynamic spending limits, expiration dates, and tags
- Send any number of virtual cards directly from the application to themselves, employees, vendors, suppliers, contractors, and others\
- Give employees a budget with which to issue virtual cards
- Attach purchase orders and receipts to transactions
- Manage recurring expenses and subscriptions
- Approve, modify, or cancel virtual cards at any time
Extend CEO and Co-Founder Andrew Jamison said:
“With Extend, Bank of the West is delivering new spend management capabilities that ensure its clients don’t wonder who paid what, when, why, or to whom. This is what clients need from payments technology today – the power to run their businesses better, with the support of their preferred financial partners.”
As noted in the update, Extend says that it “helps banks innovate like fintechs, so SMBs get a simple, powerful way to streamline spend management while keeping the financial partners they know and trust.”
Companies use Extend’s spend management and virtual card distribution platform “to empower their teams, improve core financial processes, and manage billions of dollars in transactions.”
Extend was “founded in 2017 by industry veterans of American Express, Capital One, and other Fortune 500 companies.”
