Revolut Business has launched a set of new spend management tools in the UK, US, and EEA.
The tools, which are available to the challenger bank’s business customers, are designed to help chief financial officers and controllers manage their team’s spending.
The move follows the organisation’s launch of Payroll for UK customers in February.
“Businesses are cautious about giving their staff cards because it’s considered risky or a poor way to control funds,” said James Gibson, head of product, Revolut Business. “But having few cards shared by the team can increase fraud risk and slow down operations.
“This was the premise we used to design a new feature giving companies real control of their funds and preventing overspending”.
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