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Digital banking fintech launches new product

Tom Belger | 07:30 Wednesday 20th June 2018

Penta has launched a new product called Team Access whereby business owners can order MasterCards for their co-founders and co-workers.

The Berlin-based digital banking fintech hopes that the product will act as an instant cure for time-costly expense management.

The product also comes with account access and customisable permissions for each team member.

“Small businesses need an easier way to control how things are paid for and by whom within the company,” said Lav Odorovic, co-founder and CEO at Penta.

“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.”

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 give account access to all employees will be available to the entire Penta customer base. 

“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,” added Lav. 

“We’re reducing administrative complexity, eliminating expense reporting and simplifying bookkeeping for business owners and growing teams by synchronising all of a business’s expenses into the Penta account.”

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