The Swiss giant is partnering with a two-year-old financial start-up on corporate credit cards.
UBS and Yokoy are partnering on digital banking services, the two said in a statement on Friday, without revealing financial details of their pact. Specifically, UBS' clients with corporate credit cards will enjoy access to new options for expense records, spending, and administration of their cards, the two said.
«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,» UBS Swiss corporate and institutional boss Alain Conte said.
Yokoy employs artificial intelligence to digitize and automate business spending and credit cards. Launched in 2019 in Zurich, it now has 100 staff and offices in Munich and Vienna. Yokoy recently won Balderton Capital, Left Lane Capital, Swisscom Ventures, and SIX's fintech arm in a $26 million fundraising round.
