Spendesk, the European spend management and procurement solution provider, has selected Marqeta, the global card issuing platform, as its issuer processor for its payment institution, Spendesk Financial Services (SFS).
Spendesk plans to leverage technology from Marqeta to enable its medium-sized business customers to monitor budgets, customise spend controls, and boost efficiency.
By simplifying procurement, payment cards, expense management, invoice processing, and accounting automation, Spendesk’s AI-powered solution aims to make spending easier for employees while offering finance leaders full visibility and whatever level of control they require.
Spendesk’s financial offerings are enabled by SFS, offering real-time card processing, secure transactions, and spend controls in collaboration with Marqeta. It also offers expense management and a new procure-to-pay solution. Additionally, it integrates with existing accounting and financial software through its APIs and native integrations.
“Expense management and procurement solutions are vital for medium-sized businesses looking to increase financial control, achieve consistent growth, and improve cash flow,” explained Stephane Dehaies, CEO of Spendesk Financial Services. “Marqeta’s open API platform is the perfect fit for our business and will support us as we continue to lead the industry with innovative, end-to-end spend management solutions, providing businesses with greater visibility and control, even as they scale.”
Leveraging Marqeta’s platform, companies using Spendesk can restrict card usage to specific times and spending categories, flagging any unusual transactions and enabling them to immediately approve or deny a transaction if necessary, resulting in significantly less friction.
Simplifying expense management
Through Marqeta’s platform, Spendesk Financial Services has integrated Marqeta’s card processing services into its core banking platform, offering its customers both physical and virtual cards which are tailored to each business’s needs. This integration enhances Spendesk’s complex B2B spend management by providing dynamic spend controls that efficiently and securely screen and authorise expenses in real time.
“In our work with Spendesk, we’re helping businesses take the hassle out of expense management and assist SMBs in accessing better financial tools for their business,” added Marcin Glogowski, SVP and MD, Europe, and UK CEO at Marqeta. “Marqeta’s platform makes it simple for employees to make safe, policy-friendly purchases while keeping spending aligned with company goals.
“We’re a trusted ally for them, seamlessly embedded into Spendesk’s systems to help their customers scale, ultimately simplifying their spend management at a time of added competitive pressures.”
