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 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 the requirements, creating access at various levels, enabling stakeholders in the corporate with 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 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, Mr. 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.”
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 KES 8bn to KES 171 bn and deposits from KES 6bn to KES 243bn. The division’s operating profit increased by 87% to KES 10.5bn.
