Our FinTech joins forces with the major Swiss bank. At today's UBS CFO Summit, the most important conference for the CFOs of large listed Swiss companies, we had the great honour to announce our partnership. Together, we will give new momentum to digitalisation in the financial sector. In the near future, this partnership will open up new possibilities in the area of spend management for all clients.
Together with UBS, Yokoy allows large companies to fully automate the complicated processes of spend management. By integrating credit card transactions into the Yokoy app, clients can benefit from automatic data reconciliation, which enables efficient spend management. As a next step, credit card management will also be simplified: common tasks - blocking cards or ordering replacement cards and PIN codes - can also be done via the Yokoy app at the click of a mouse.
The partnership between Yokoy and UBS is future-oriented. The young fintech company and leading Swiss universal bank have joined forces to combine their different strengths for the clients’ benefit. The combined strengths enable innovative services comparable to an open banking cooperation.
At the heart of this spend management solution is a software module developed by Yokoy. Using artificial intelligence, Yokoy’s software is able to digitise and analyse receipts as well as supplier invoices. The information contained on such receipts is enriched with meta-information from external data sources, which can be processed for company-internal enterprise resource planning systems. The Yokoy app supports common interfaces and the products of many suppliers, while exchanging information with standard business software. The protection of privacy and the security of data are always guaranteed as well.
"Working with an innovative fintech company is central to the further development of our digital banking services. The partnership with Yokoy ideally complements our corporate card solutions offering, as our clients with large transaction volumes can now benefit from a strikingly simplified management of their business expenses."
Alain Conte, Head of UBS Corporate & Institutional Clients Switzerland.
We are very pleased that UBS appreciates the commercial significance of our software innovations. Together we can open up new client segments and help more companies to digitise and automate their spend management. More to come soon!