NatWest pilots app that helps track business spending
29 May 2017 | 8484 views | 0
NatWest has teamed up with Silicon Valley startup SpendLabs to trial an app that helps businesses track and control commercial card spending.
The ClearSpend app allows businesses to set budgets at company, business and cardholder level, place limits on spending, receive real time alerts and control when, where and how commercial cards can be used.
It is currently being piloted by 100 NatWest Commercial Card customers, with a possible full rollout later this year, coming to NatWest, RBS and Ulster Bank clients on iOS, Android and a web app.
Alison Rose, CEO, commercial and private banking, NatWest, says: "This is another example of how we are working alongside enterprising new technology businesses to develop innovative solutions that will really make a difference to our customers.
“Every business owner knows the importance of budget control. And that includes monitoring expenditure on commercial cards. Administering expenses can be ineffective and time consuming and does not provide the up to date information businesses need.
"ClearSpend provides an answer to these challenges. It is one of a number of great ideas I came across during a recent visit to Silicon Valley."