Business Reporter: Financial software and banking services integrated into a single platform

How Rho Business Banking’s platform offers businesses flexibility and cost-saving opportunities

LONDON, UNITED KINGDOM, October 18, 2021 / — In an Industry View piece on Business Reporter, Sebastian Morales, VP of Finance at business banking platform Rho explains how today’s businesses benefit from a single solution that combines financial software, commercial-grade banking and personalized service under one roof. Integrating various financial tools such as commercial banking, corporate cards, accounts payable and global payments into a unified financial ecosystem breaks down silos and empowers organizations to move faster, save money, and scale seamlessly.

By using a fee-free platform such as Rho’s, businesses can also save thousands each month, including bank fees, corporate card fees and transaction fees such as ACH (Automated Clearing House) transfers and international transactions that would otherwise incur a cost. Rho doesn’t charge for such services within its network. The platform can also synchronise directly with external accounting software and therefore turn reconciliation into a smooth process. Rho’s solution is the kind of instant, comprehensive and collaborative platform that high-growth companies need to scale their operations. Despite being a digital company, Rho puts a great emphasis on one-on-one meetings with clients and has created a network of account managers that are to serve not only big corporate partners but also small businesses. The fintech’s platform has capabilities to fully automate some of the routine workflows such as invoice approvals and expense reports, which can free some of the staff for higher-value tasks. With all spend centralized on a single platform, Rho makes sharing of financial data frictionless through providing better visibility, in real-time, for all users.

The Rho Card launched in May this year and is the first bank-issued corporate card that lets companies manage cash back, credit terms, spend control and policies on their own terms offering an option to adjust conditions up to four times a year to accommodate their cyclical business needs. The Rho Card offers high credit limits that scale as businesses expand without requiring personal guarantees or lien on business assets.

To learn more about Rho’s platform, read the article.

•• About Business Reporter ••

Business Reporter is an award-winning supplement published in the Sunday and Daily Telegraph, City AM and online, delivering news and analysis on issues affecting businesses to a global audience. It also hosts conferences, debates, breakfast meetings and exclusive summits.

•• About Rho Business Banking ••

Rho Business Banking is the leading digital banking service for business teams developed by New York-based Rho Technologies. Rho’s intuitive platform provides access to faster banking, smarter cards, easier AP and precise controls in one place. Rho Technologies is the high growth fintech behind Rho Business Banking. Rho is not a bank, banking services under the Rho brand currently are provided by Evolve Bank&Trust, a technology-focused financial services organization, while card services under the Rho brand are issued by Sterling National Bank.

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