Spendesk partners Adyen to enhance spend management workflows for SMBs
Spend management platform Spendesk has teamed up with Adyen as the company looks to strengthen its embedded financial services offering and provide enhanced spend management workflows for small and medium-sized businesses (SMBs).
Spendesk enters long-term partnership with Adyen
Spendesk says the “long-term” partnership will boost its offering in core markets and “support global growth”, with the company looking to bring new products to market in 2025.
The company will utilise Adyen’s tech to streamline customer onboarding, optimise payment processing times, and “increase visibility and control on the end-to-end payment process” by leveraging data. The company also plans to add support for Apple Pay and Google Pay to “enhance XPays, a feature that provides companies with flexible payment options”.
The company says it selected Adyen for its “full stack Banking-as-a-Service (BaaS) coverage across multiple key markets, which eliminates complex multi-provider set-ups”. Spendesk adds that Adyen’s UK banking licence will enable the company to offer card customisation capabilities for the platform’s UK customers specifically, as well as new embeddable financial products that go “beyond payments” going forward.
Adyen’s EU, UK and US banking licenses will also enable Spendesk, based in Paris, France, to stay “continuously compliant within the countries it operates in and plans to expand to”, the company says.
Spendesk’s platform enables finance teams to automate and streamline company spending workflows, with tools including virtual and physical cards, expense management and procurement solutions, and accounting software integrations via API.
The partnership with Adyen comes only a month after Spendesk named Axel Demazy, a former Jellysmack exec, as its new CEO, following the transition of president Rodolphe Ardant to an advisory role.
