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Emburse and Mastercard Partner to Help Financial Institutions Deliver Robust Corporate Expense Management Capabilities

Emburse and Mastercard Partner to Help Financial Institutions Deliver Robust Corporate Expense Management Capabilities

Corporate clients to benefit from easy, mobile-centric integrated card and expense solutions

Emburse, a global leader in expense management and accounts payable automation solutions, is collaborating with Mastercard to provide card-issuing financial institutions (FIs) with deep expense management capabilities. Mastercard-issuing FIs can now offer a custom-branded version of Emburse and deliver an integrated solution that empowers corporate clients to easily capture, verify and reconcile card spend.

.@emburse and @mastercardnews partner to help financial institutions deliver robust corporate expense management capabilities

Corporate card users can capture receipt images directly within Emburse’s mobile app, match them with the appropriate transaction data and easily create and submit detailed, line-item expenses without the need to manually enter transaction data. These data-rich expense reports can then be routed for automatic processing, eliminating the need for time-consuming and labor-intensive manual reconciliation. The solution also enables customers to use Emburse’s sophisticated AI-based audit and analytics capabilities to improve the user experience, manage spend and reduce fraud.

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“We’re very excited to partner with Mastercard to help simplify and streamline the user experience for its corporate cardholders across the globe,” said Eric Friedrichsen, CEO at Emburse. “The potential benefits that Emburse and Mastercard can bring to banks, their clients and cardholders are immense. We look forward to launching with our first financial institution later this year, and continuing to humanize work for FIs and their corporate customers by providing them with powerful, user-friendly, mobile-centric expense solutions.”

The integrated solution enables FIs to deliver sophisticated, unified spend-management capabilities to their corporate clients — a compelling advantage against new market entrants in the spend management space. This enables FIs to win new clients, retain existing customers and drive incremental card spend due to a faster submission and reconciliation process. Emburse also makes it easier for FIs to put controlled virtual card management in the hands of every employee at their corporate clients.

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“In today’s digital economy, companies are looking for innovative technology solutions to reduce complexity and improve operations. That’s why Mastercard is modernizing the business payments ecosystem to deliver greater simplicity, automation and efficiencies,” said Ron Shultz, executive vice president, New Payment Flows, North America at Mastercard. “Through our partnership with Emburse, we’re helping financial institutions deliver a sophisticated digital solution to help companies of all sizes modernize their expense management processes and maximize efficiencies.”

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