Capra Bank has expanded its Zact partnership to launch SpendLink, combining commercial cards, expense management, payables, and travel.
SpendLink, powered by Zact’s platform, brings commercial card management, expense management, integrated payables, and business travel together in one service, with centralised administration and controls. According to the companies, this gives commercial customers more visibility into their spending and reduces the need to switch between separate systems. Capra Bank is a US community bank serving commercial and consumer customers in Iowa, Texas, and New Mexico.
Built for banks’ existing infrastructure
Zact’s platform is designed for financial institutions, combining commercial banking applications with the security, reliability, and integration capabilities banks require. Because it works within existing banking technology, Capra can offer new digital services under its own brand while keeping its direct customer relationships and current infrastructure. The expanded partnership also gives Capra a basis for adding further capabilities from Zact’s application suite as customer needs change, supporting more of their financial activity.
Dr Lynn ‘Tut’ Fuller, Chairman, CEO, and Founder of Capra Bank, stated that the bank was built on the belief that businesses should have access to the personal service of a community bank, supported by modern technology. According to Fuller, working with Zact allows Capra to give commercial customers financial tools that simplify their operations and help them manage spending more effectively.
Banks responding to fintech competition
John Thomas, CEO of Zact, stated that Capra shows how banks can compete by combining the advantages they already have with modern technology. According to Thomas, fintechs have raised expectations for commercial banking, but banks have the customer relationships, trust, and financial infrastructure to respond, and the partnership helps Capra capture more of its customers’ commercial spending.
Zact’s bank-first platform covers commercial cards, expense management, payables, travel, and reconciliation, allowing banks to keep their existing systems, brand, and customer relationships. According to Zact, this helps banks retain more of the deposits and revenue associated with their commercial programmes, rather than losing that business to fintech providers offering similar tools directly to companies.
