NCBA Group and Visa, a global leader in digital payments, have announced a partnership to roll out an innovative solution dubbed Visa Spend Clarity for Enterprise for commercial card clients of NCBA. Visa Spend Clarity is part of Visa Commercial Solutions’ suite of products and services for businesses of all sizes.
Visa Spend Clarity is an online Spend and Expense management platform that offers businesses visibility and control over their expenses and improves their overhead reporting. NCBA says the enhanced data and reporting help in resource optimization and better cash flow management. The platform is available both as a Web UI or Mobile Application for Android or IOS.
The tool can be customized as per the requirements, creating access at various levels, and enabling stakeholders in the corporate with the relevant set of reports and data. The data can also be integrated with ERP or extracted for upload into accounting platforms. The expense management capability helps in digitizing the expense claim process, making it paperless with capabilities like OCR and receipt upload with multiple approval levels.
Commenting on the development, NCBA Group, Retail Director, Tirus Mwithiga noted, “At NCBA, we are continually working to ensure that our customers’ needs are met. Visa Spend Clarity is one way to do this as we help our corporate clients manage and track their expenses. I am excited for this new phase of NCBA’s journey that will undoubtedly grow our clients’ businesses.”
“We are constantly looking for new ways to offer our customers enhanced speed and convenience when it comes to payments through integrated services. This collaboration with Visa is most valued, as it aligns with the Bank’s business growth agenda, through digitisation. We look forward to more partnerships that enable us to draw strengths from each other, in ensuring that we maintain distinguished customer experience.” Mwithiga further noted.
On her part, Visa Kenya Country Manager, Eva Ngigi-Sarwari stated, “We are proud to be extending our existing partnership with NCBA to include the Visa Spend Clarity tool. The insights provided by Visa Spend Clarity can help businesses make more informed decisions about their spending, helping them manage their finances more effectively. This partnership with NCBA is part of our commitment to help businesses of all sizes digitize their processes by offering convenient, secure and customizable tools”.
The Visa Spend Clarity tool is part of NCBA’s strategy to enhance its digital offering by connecting customers to new digital channels. In 2022, the bank onboarded 146 new corporate customers.