EedenBull, a fintech innovation company specialising in B2B and Commercial Payment solution design and implementation, has announced a five year agreement with National Australia Bank (NAB). The new partnership will allow the bank to deploy EedenBull’s innovative payment and spend management platform to the bank’s customer base of small and medium sized enterprises (SMEs), according to a press release.
The EedenBull platform provides the ability for the bank’s SMEs to track payments and spending simply, efficiently and in real time. By using the latest technology, the bank’s SME customers will prevent cash leakage by ensuring that the right business spending policies are adhered to.
EedenBull will be providing NAB its innovative Q Business platform, which includes Q Control for the administrator and Q App for the employee. NAB will issue their own payment cards onto the platform, with their customers using Q Business to manage cards and spend.
EedenBull is already partnering with 65 banks in Europe, and is now further expanding its global reach with banks such as National Australia Bank.
Nicki Bisgaard, CEO and founder of EedenBull, commented: “This announcement underlines our progress in offering best in class payment and spend management technology to the banking community globally. We are delighted to partner with NAB, a globally respected banking brand and Australia’s leading business bank, and to provide them innovative, digital spend solutions for their SME clients in Australia. Q Business is taking commercial payments to the next level, and we look forward to being a partner on this journey in delivering value, control and flexibility to NAB and their many business customers.”
Mr. Bisgaard added: “We are growing fast, innovating constantly, improving our products and services all the time and seeking further partnerships with existing and new banks globally, as we expand our worldwide footprint. New technology, new regulation and new players are forever changing the way consumers and businesses think about payments – changing the way people pay, and get paid, and EedenBull is here to guide banks through this market, legislative and technology complexity.”
Tania Motton, NAB Executive for Everyday Business Banking said: ‘’Expense management software solutions are so often out of reach for small and medium sized businesses. This exciting partnership will give our customers an intuitive expense management platform with full control and analysis of payments across their business as well as more confidence to allow their teams to spend money.”
Ms. Motton continued: “For us, the most important thing about partnering with EedenBull to offer their technology is that it will help more Australian businesses to focus on the business of serving customers rather than time consuming administration.”
The partnership with NAB signals a step change in the global ambition of EedenBull, which is headquartered in Oslo, has its design and innovation team in Singapore, business development team in London and their operations centre in Edinburgh.
EedenBull was launched in 2018 by a group of senior banking professionals and experts in digital payments. Enablement of third-party access to data from banks leading to the rise of open banking, has empowered tech-driven non-banking companies, such as EedenBull, to build new and innovative payments services.
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