Boston, November 6, 2019 – Most businesses struggle with expense management, particularly for infrequent business travelers who do not have their own commercial card. Reimbursing these business travelers presents significant challenges for businesses, such as lack of control over spending, the potential for fraud, and difficulties with reconciling the transactions. U.S. Bank launched its Expense Wizard solution to meet corporate and business customer need for payment solutions that target infrequent travelers and simplify travel-expense processes.

Aite Group’s Impact Innovation Awards are designed to recognize and celebrate innovation achieved by financial institutions leveraging technology to surpass the status quo. Award recipients are leading the industry by identifying and implementing new products, capabilities, or levels of automation and effectiveness that are bringing our industry one step closer to next-generation banking. Other reports in this series feature Aite Group’s Impact Innovation Award in Cash Management and Payments for customer experience, customer experience for small businesses, customer experience by a global bank, operational efficiency, digital channel capabilities, product development, and product development in real-time payments.

Clients of Aite Group’s Wholesale Banking & Payments service can download this nine-page Impact Brief. To learn more about the topic covered in this Impact Brief, please contact us at [email protected].