Yokoy’s AI-based spend management software for companies is now available to the corporate clients of Vienna-based Erste Bank. Zurich-based fintech company Yokoy – with its platform bearing the same name – automates the entire expense management process, including invoice management and credit card transactions, for medium-sized and large companies. According to its press release, Erste Bank has integrated this service into its new business banking service, George Business.
The George Business interface enables Erste Bank card transactions to be imported automatically, matched to receipts and booked in real time. Tax-relevant information and compliance guidelines can also be mapped and automatically checked with Yokoy.
“We are very proud that Yokoy was able to win the trust of the most modern bank in the highly regulated Austrian banking environment,” says Yokoy CEO Philippe Sahli. “Now, by joining forces, we can better cater to customers’ needs for innovative banking solutions and help companies automate their spend management using AI.”
According to the press release, the partnership with Yokoy will extend to all Erste Group markets. The Austrian bank sees the collaboration as an important milestone in applying and developing AI-based solutions in banking.