Digital banking fintech Penta has launched a new product called, Team Access. Founders can now order team MasterCards for their co-founders and coworkers as an instant cure for time-costly expense management. It comes with account access and customisable permissions for each team member.
“Expense management sucks.” says Lav Odorovic, Penta’s Co-founder and CEO. “Small businesses need an easier way to control how things are paid for and by whom within the company. In addition to allowing business owners to stay on top of spending, we’re empowering the whole company to move quicker and to spend less time banking.”
As business owners know, it can take weeks of daunting paperwork to get another debit card from a legacy bank. The alternative solution for a business owner is to apply for a business credit card which has a predefined credit limit. Most early stage businesses aren’t credit-worthy, and therefore can’t get a second card.
Penta is solving this pain by allowing founders to add their co-founders and coworkers to the Penta account, give them debit cards, and assign roles and permissions to control the features they can see and access—all within a few clicks.
Odorovic says:
“Our Team Access launch has created a fundamentally new way to manage company expenses while making sure that our customers remain in full control of their spending. We’re reducing administrative complexity, eliminating expense reporting and simplifying bookkeeping for business owners and growing teams by synchronizing all of a business’ expenses into the Penta account.”
Starting today, users will be able to issue team debit MasterCards and give account access to founders, or Managing Directors within the company with predefined limits and permissions. Within the coming weeks, the possibility to issue Penta cards and to give account access to all employees will be available to the entire Penta customer base.
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Peyman Khosravani is a global blockchain and digital transformation expert with a passion for marketing, futuristic ideas, analytics insights, startup businesses, and effective communications. He has extensive experience in blockchain and DeFi projects and is committed to using technology to bring justice and fairness to society and promote freedom. Peyman has worked with international organizations to improve digital transformation strategies and data-gathering strategies that help identify customer touchpoints and sources of data that tell the story of what is happening. With his expertise in blockchain, digital transformation, marketing, analytics insights, startup businesses, and effective communications, Peyman is dedicated to helping businesses succeed in the digital age. He believes that technology can be used as a tool for positive change in the world.
