Unlocking Corporate Credit with AI-Powered Underwriting: NUMARQE Teams Up with Weavr Card Services
NUMARQE, the London-based corporate-credit provider, has partnered with Plug-and-Play Finance provider, Weavr, to streamline the power of AI and embedded finance for a digitised corporate-card experience.
Many corporations struggle to obtain unsecured credit lines due to a lack of commitment and accessibility from banks and traditional credit providers, affecting working capital efficiency. NUMARQE’s innovative multi-currency credit platform harnesses the power of AI to enable real-time underwriting of credit risks, make intelligent lending decisions and efficiently allocate credit to its customers. This allows NUMARQE to offer corporate businesses fast access to credit and with higher credit limits than they’d be offered elsewhere, whilst also providing more flexibility in how they spend against their credit line. With NUMARQE’s solution, corporations can be onboarded in as little as 20 minutes with instant access to a credit line and corporate cards.
By combining the power of AI to enhance risk decision-making with Weavr’s Plug-and-Play Finance solution, NUMARQE now offers real-time card management and spend controls alongside tailored credit facilities in multiple currencies. The suite of services also includes secure online payments with virtual cards, enhanced business intelligence with spend insights and analytics. In building this suite of tools, NUMARQE gives companies total transparency over corporate spending, offering more control to Finance managers than ever before.
With a Weavr-powered card, NUMARQE also simplifies expense management, allowing Finance teams to create an automated feed or export transaction-data files in journal format to post into accounting software. The platform can reconcile digital receipts directly from the merchant with each transaction. As a result, enterprises can manage and track their team spending with instant visibility.
Weavr was the obvious partner for NUMARQE because of the company’s intuitive and easy-to-implement solution. Unlike the alternative of having to piece together a solution from multiple vendors and financial-service providers, Weavr’s platform can be integrated in a matter of weeks and at a fraction of the cost of traditional Banking-as-a-Service providers. This speed to market has enabled NUMARQE to respond quickly to the financial needs of its customers.
CEO of NUMARQE James Bowler said "Our multi-currency credit platform is designed to bring a major transformation to traditional credit offerings, providing corporates with a committed, unsecured credit line at their disposal, which can be seamlessly allocated across all their corporate spend. This makes it incredibly easy and efficient for CFO’s and Finance managers to manage their working capital, whilst retaining complete transparency and control of company spend. From day one, we valued Weavr’s tech-first approach to problem-solving and the benefits it could bring to our platform. The company stands out as a true innovator that understands our customers and are wholly committed to helping other innovators grow.”
Alex Mifsud, Co-founder of Weavr said “NUMARQE enables much-needed access to credit for mid-sized corporates, which have traditionally been underserved with the kinds of financial products that many enterprises take for granted. Offering access to corporate cards with credit lines attached, in combination with other valuable financial management tools, is a great example of the value and innovation that embedded finance can unlock.”
For more information about NUMARQE and Weavr please visit www.numarqe.com & www.weavr.io