Payhawk has launched a new service called Link & Control. This services aims to allow users to link their bank-issued corporate cards to the platform and add real-time spend controls to the business credit cards they use.
This update comes as Payhawk doubles down on the U.S. market with a growing NYC office, including new GM US, Dan Osburn and VP Sales, North America, Catie O’Gara.
Link & Control is said to allow for card transactions to be monitored and reconciled in real time, and — for the “first time” in the industry — to set “configurable controls on linked, bank-issued cards, enabling proactive spend control.”
US finance teams may benefit from spend management features without needing to replace their existing corporate cards, and thus keeping their preferred credit lines, rewards, and banking relationships they may depend on.
The technology also seeks to effectively consolidate card programs from banks or fintechs in one place, so they get an “integrated experience and visibility across all card programs.”
Traditional expense management tools (e.g., SAP Concur, Expensify) tend to leverage older tech solutions and still reportedly use bank feeds and statement imports to process card expenses. Some do actually issue their own cards, however, they don’t offer active control enforcement “on linked, bank-issued cards — finance only sees spend after it happens.”