Thursday, 25 April 2024
NatWest trials new app ClearSpend to control company card payments
NatWest is trialling a new app for growing businesses that tracks and controls company card payments, so that managers can keep on top of transactions as they happen. The app, ClearSpend, is the first of its kind according to the bank and is being tested by 100 firms. Aimed at smaller businesses, it will be rolled out by NatWest later this year to both its own customers and those of its parent, Royal Bank of Scotland.
ClearSpend allows companies to set budgets down to cardholder level, receive real-time alerts and monitor when, where and how cards linked to the app are used, as well as lock them.
Alison Rose, chief executive of NatWest’s commercial and private banking division, said that the app was being developed in partnership with Silicon Valley start-up SpendLabs: “Customers get more visibility of what and how their employees are spending on a commercial card all with the convenience of a mobile app, something we have found from listening to them that is important.”
NatWest is looking at adding fingerprint recognition security features to ClearSpend. The app will be available on iOS and Android phones.
Re-disseminated by The Asian Banker from Express.co.uk
