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 the bank’s commercial card clients. Visa Spend Clarity is part of Visa Commercial Solutions’ suite of products and services for business 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. The enhanced data and reporting helps 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 requirements, creating access at various levels, and generates relevant sets 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 expense claim process, making it paperless with capabilities like OCR and receipt upload with multiple approval levels.
“We are constantly looking for new ways to offer our customers enhanced speed and convenience when it comes to payments through integrated services,” NCBA Group, Retail Director, Mr Tirus Mwithiga. “This collaboration with Visa is most valued, as it aligns with the Bank’s business growth agenda, through digitisation.”
For her part, Visa Kenya Country Manager, Eva Ngigi-Sarwari stated that the insights provided by Visa Spend Clarity can help businesses make more informed decisions about their spending, helping them to 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,” she said.
The Visa Spend Clarity tool is part of NCBA’s strategy to enhance their digital offering by connecting customers to new digital channels. In 2022, the bank onboarded 146 new corporate customers, growing the gross loan book by Ksh8 billion to Ksh171 billion and deposits from Ksh6 billion to Ksh243 billion. The division’s operating profit increased by 87% to Ksh10.5 billion.