Expensify, a premier innovative expense reporting app provider, launched the ExpensifyApproved! Banks program today at ExpensiCon with Wells Fargo as its first major partner.
This relationship will allow the two firms to continue to deepen their existing agreement on creating an innovative and more reliable data sharing platform for mutual Expensify and Wells Fargo customers who use the Expensify software to manage their expenses. The new method of data sharing between Wells Fargo and Expensify - driven by an innovative new application-programming interface (API) - gives enhanced security and greater control over what bank information is shared with Expensify.
“Bank integrations have been in the Expensify DNA since day one, and the ExpensifyApproved! Banks program is the next step toward providing a consistent transaction import process for our mutual customers,” says David Barrett, founder and CEO of Expensify. “Wells Fargo has always been a great partner at the forefront of innovation, so it was a natural fit for them to be our first major partner as we launch this exciting new endeavor.”
All Expensify customers who connect Wells Fargo bank cards - from self-employed individuals tracking charges for tax purposes to accountants managing small business clients - will notice a more seamless experience from the first click. Aside from the streamlined transaction import, improvements include a faster card setup process, easier access to historical activity, and more detailed snapshots of transaction data. In addition, mutual customers can be confident that via the APIs their personal data is shared in a secure environment.
“We’re thrilled to lead the charge with Expensify on next-generation technology that gives mutual customers more control of their account data, and peace of mind through secure direct access to their banking data,” says Ben Soccorsy, head of digital payments for Wells Fargo Virtual Channels. “With API connectivity, Wells Fargo cardholders in Expensify can trust that they’re getting a smooth and efficient transaction import experience. Robust card connections that run dependably in the background are the perfect complement to fully automated expense reporting in Expensify.”
As a member of the ExpensifyApproved! Banks program, Wells Fargo will benefit from:
Secure, dependable import of credit card transactions for mutual customers
Access to dedicated engineering resources to build and maintain APIs
Enhanced product support for Wells Fargo customers
In-product recommendations to millions of Expensify customers
Wells Fargo has announced several major agreements that significantly improve the way customer data is shared between financial institutions and the third-party services customers use to manage their finances. These agreements reflect a shared desire to improve the reliability and efficiency in the data sharing process. More importantly, the technology at the center of these agreements gives consumers and business owners more control over which account information they share.
In order to join the ExpensifyApproved! Banks program, bank partners are meticulously vetted and must be dedicated to Expensify’s vision of a more streamlined, secure, and integrated future. To learn more or nominate a bank partner for the program, visit here.
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