NEW YORK—Credit unions will likely have to do more, including offering enhanced services and streamlining operations, to keep their business banking members, with a traditional powerhouse rolling out a new solution.
In previous CUToday.info reports analysts have stated the fight for business accounts is growing and that credit unions have been falling behind banks. Now, a move by American Express shows that fight may be getting even tougher.
American Express recently announced it will acquire Nipendo, a platform used by companies to automate and streamline B2B payment processes, Seeking Alpha reported.
The acquisition is aimed at creating an end-to-end B2B platform.
“American Express is building a broader suite of B2B capabilities for buyers and suppliers through new product development, M&A and partnerships. Nipendo, which works alongside a company's existing systems, allows firms to easily connect and automate procure-to-pay processes,” Seeking Alpha explained.
Still Free in ’23! The Freshest CU Headlines. Right to Your Inbox.
The biggest, best and freshest news reporting in credit unions remains free in ’23! Each morning CUToday.info delivers its daily update offering the latest headlines and breaking news right to your email, with the easy-to-read headlines format allowing you to click on the stories that interest you most in order to learn more.
If you haven’t yet signed up for the new email solution on which CUToday.info has partnered with ResponseGenius, you can do so here. Signing up requires less than one minute of your time—and it’s free!
Please note that after signing up you may need to go to your Spam/Junk folder and mark the morning headlines email as safe. CUToday.info does not provide its list of readers and emails to outside parties, and we will not be contacting you to sell you an extended warranty or sending you any links so you may cash in on an inheritance you didn’t know was coming.
And did we mention it’s free?
Please note and/or make your IT department or email administrator aware the emails will be coming from the domains CUTodayinfo.com and CUTodayinfoReply.com.