Spendesk, the spend management platform for mid-sized businesses, has launched Spendesk Financial Services, which is its own payment institution.
Regulated by the ACPR (Autorité de contrôle prudentiel et de résolution), and including a collaboration with Visa, Spendesk Financial Services enables the company to deliver payment solutions to its clients across France and the European Union.
With Spendesk Financial Services, Spendesk now has “end-to-end” control over its payment services infrastructure.
The company reportedly offers its 5,000 client businesses, representing more than 200,000 users across Europe, a “fully integrated” spend management solution.
This launch strengthens Spendesk’s commitment to customers by providing a secure and optimized environment for managing company spending.
Spendesk Financial Services enables the platform to “centralize” operational processes and introduce features faster.
The financial services include account management and the provision of various payment methods “like physical and virtual business cards as well as transfers.”
Integrated within Spendesk’s spend management solution, Spendesk Financial Services supports an “end-to-end customer journey from procurement and spend management to payment.”
The introduction of Spendesk Financial Services enhances the platform’s efficiency, offering improved service levels and “responsiveness for a continuously optimized user experience.”
It serves as an innovation engine, paving the way for new services as well as payment features like the launch of Spendesk Procurement.
Stéphane Dehaies, President of Spendesk Financial Services said that with Spendesk Financial Services, they’re not just managing payments.
Dehaies added that they now have “complete control over our technological infrastructure, allowing us to innovate faster and respond more effectively to the needs of European SMEs and mid-market companies,”
Ensuring security and compliance is a priority for Spendesk Financial Services.
This includes prevention of external fraud on payment methods by applying best practices and “real-time transaction monitoring.”
To develop its payment institution, Spendesk partnered with industry players, becoming a “principal member” of the Visa network for card issuing.
Axel Demazy, CEO of Spendesk said that the autonomy enabled by Spendesk Financial Services allows them to “continue innovating while providing clients with enhanced security and simplified management.”
Demazy added that their goal is to become the “standard for payment at work in Europe and this launch is a crucial step forward. Spendesk Financial Services, in strategic collaboration with VISA,enables us to control the entire payment chain and unlock new innovation,”
By taking control of the entire value chain, Spendesk is able to offer additional services to clients.
This flexibility allows Spendesk to strengthen collaborations with providers and explore integrations with professional solutions.
