#United States #San Francisco #Oracle #B2B Payments #Brex

Brex Partners with Oracle to Transform B2B Payment Solutions

In a significant move for the fintech landscape, Brex has announced its partnership with Oracle, marking a milestone as the first fintech issuer to be embedded in Oracle's Fusion Cloud Enterprise Resource Planning (ERP) system. This innovative collaboration aims to streamline B2B payments for global enterprises, offering unprecedented efficiency in managing supplier payments across various currencies and banking systems.

The Challenge of Traditional Payment Methods

Many businesses face hurdles when managing payments through traditional methods like ACH, EFT, and wire transfers. These older systems are often slow, costly, and provide limited visibility into the payment process, which poses compliance risks. Additionally, existing corporate card solutions may not have the robust controls needed for enterprises operating on a larger scale. With their innovative offerings, Brex aims to address these challenges by fully integrating its virtual card system into Oracle's advanced ERP platform.

Unlocking New Financial Possibilities

By leveraging Oracle's integration with Mastercard, Brex facilitates access to its virtual cards directly from Oracle Cloud ERP. This allows enterprises to process payments in over 30 currencies from a single platform, alleviating the need for managing separate banking infrastructures. The benefits of this integration are significant:

• - Streamlined Payments: Enterprises can enjoy expedited payment processing while automating reconciliation tasks, thereby gaining centralized visibility over their financial operations across geographical regions.
• - Enhanced Control: Brex's virtual cards come equipped with advanced features such as single-use numbers, spending caps, and merchant restrictions, ensuring tighter controls over expenditure. Moreover, a comprehensive digital audit trail reduces the risk of fraud while supporting compliance with regulatory standards.
• - Revenue Generation from Spend: A unique angle of this collaboration lies in the ability to transform accounts payable functions into revenue-generating avenues through meaningful rebates and rewards, enhancing the financial potential of everyday company spending.

Insights from Industry Leaders

“Oracle stands as one of the most reputable names in enterprise software, and we are thrilled to introduce this integration as the leading fintech global issuer for Oracle's B2B embedded payments solution,” stated Art Levy, Chief Business Officer at Brex. “Together, we are not only simplifying the supplier payment process across borders but also offering enterprises the speed and control necessary to unlock value from expenditures at a scale previously unattainable.”

Echoing this sentiment, Catherine You, Group Vice President of Applications Development at Oracle, highlighted that by embedding Brex into Oracle Cloud ERP workflows, companies gain improved visibility, efficiency, and control in financial operations while unlocking new value from their everyday spending. Gaurav Saxena, Senior Director at Robinhood, further emphasized the seamless integration of Brex with favorite tools, remarking on the enhanced control and efficiency this collaboration brings.

Strong Commitment to SaaS Solutions

Brex's integration into various enterprise systems signals a growing trend among businesses that increasingly demand comprehensive solutions for their financial operations. The company boasts a rapidly expanding partner ecosystem and hit nearly $2 billion in annualized payment volume within its first year, underscoring a robust demand for a global card solution. With Oraclejoining as a foundational collaborator, Brex empowers global enterprises to simplify financial operations while addressing compliance and unlocking opportunities for growth.

A Look Ahead for Brex

Brex continues to position itself as an intelligent finance platform aimed at empowering businesses worldwide to spend smarter and act faster. With operations spanning 120+ countries, the combination of an advanced corporate card and high-yield banking with intuitive expense management tools allows organizations to gain visibility and control over their finances effortlessly. By automating tedious expense and accounting tasks, Brex has saved companies millions of hours, freeing them up to focus on higher impact work.

As the partnership with Oracle unfolds, it sets a precedent for how fintech can enhance efficiency and compliance within traditional enterprise systems, paving the way for future innovations in B2B payment solutions.

For more information on Brex and how it aims to change the face of financial operations for growing companies, visit their website.