Spend Management Firm Yokoy Partners With UBS Switzerlandby Fintechnews Switzerland November 8, 2021
Swiss spend management specialist Yokoy Group announced that it has entered into a partnership with UBS Switzerland.
Yokoy said that this partnership will open up new possibilities in the area of spend management for all of UBS’ clients in the near future.
Together with UBS, Yokoy allows large companies to fully automate the spend management processes.
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, Yokoy added that credit card management will also be simplified where common tasks such as blocking cards or ordering replacement cards and PIN codes, can also be done via the app.
Using artificial intelligence-powered software, Yokoy 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.
Philippe Sahli, CEO of Yokoy Group said,
“I am 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 expense management.”
Alain Conte, Head of UBS Corporate & Institutional Clients Switzerland said.
“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.”