Pliant CEO says banks must connect commercial cards to workflows

Pliant Chief Executive Malte Rau said banks face rising pressure to make commercial cards part of broader finance workflows, as business customers seek faster controls, automated expense processes and tighter links to accounting systems. In an external opinion published by Finextra, Rau said recent activity around Capital One, Brex and Ramp has renewed attention on a market some banks had regarded as mature.

Rau argued that commercial cards remain an important product for banks, but that customer expectations now extend well beyond payment execution. Companies increasingly want card issuance, spending limits, receipt capture and administrative tasks to work in near real time, he said.

For banks, the commercial effect is customer retention and share of wallet. Rau said institutions that improve the day-to-day operating experience for finance teams may strengthen existing client relationships and make their services more attractive to growing businesses reviewing banking providers.

Finance teams want fewer manual steps

According to Rau, business users now compare commercial banking tools with the speed and ease they experience in consumer applications. In the card market, that means the ability to issue cards instantly, change spending permissions quickly and capture expense information as purchases occur.

The operational chain around a card transaction has become central to the product, Rau said. A payment can feed approval processes, expense reporting, reconciliation, accounting records and management information. If those links require manual entry, banks risk leaving customers with work that fintech providers have tried to automate.

Rau said fintech companies have influenced expectations by building products around the way businesses manage spending. He cited Ramp’s continued growth and Capital One’s acquisition of Brex as developments that have focused attention on the competitive direction of commercial cards.

Banks look for practical upgrades

Rau said many banks are not responding with wholesale technology replacement programmes. Instead, he said, institutions are targeting improvements that can sit within existing systems, including mobile functions, self-service controls, automated workflows and deeper connections with financial software.

Those changes can allow a bank to improve client experience without replacing large parts of its infrastructure, Rau said. The approach reflects a balance between modernising customer-facing services and avoiding disruption from major platform change.

The mechanism is straightforward: a card transaction can create data that is routed into connected systems used by a finance team. Spending controls can determine whether a transaction is permitted, while receipt capture and categorisation can reduce later reconciliation work. Integration with enterprise resource planning, accounting, procurement, human resources and expense platforms can then place the transaction into the company’s existing controls and reporting structure.

Rau said commercial banking is becoming more interconnected as businesses digitise financial operations. In his view, banks are being asked to participate in customer workflows rather than operate as separate transaction providers.

Finextra identified the commentary as external content supplied by the author without editing, and said it reflected the author’s views and opinions.

This story draws on original reporting from Finextra Research.