Ulster Bank and SpendLabs Develop Corporate Expense Management App
Ulster Bank has introduced ClearSpend to Irish business customers. The free app was developed in partnership with Silicon Valley start-up SpendLabs. ClearSpend allows businesses to set budgets at company, business and cardholder level, place limits on spending, receive real time alerts, and control when, where and how commercial cards can be used. It links directly to the bank’s card processor, which enables users to see transactions as they happen including real-time balance and credit limit information. The app helps companies to minimise the amount of time that they spend administering expenses, without compromising on the level of control they have over budgets.
Features of ClearSpend include:
• View up to minute balance information.
• View transactions, including pending and declines.
• Set cardholder credit limits.
• Set cardholder merchant category blockings.
• Lock and unlock a card.
• Create departments to segregate spend.
ClearSpend is the result of an exclusive partnership between Ulster Bank’s parent company, RBS and SpendLabs, a Silicon Valley start-up, with a focus on developing a software platform to directly address the needs of the commercial cards market.