Metro Bank rolls out AI-powered money management tools for business clients

Tuesday 11 August 2020 11:35 CET | News

UK-based Metro Bank has announced new features on its mobile app, providing business customers with new receipt management technology.

The features are currently available for customers using an iOS device, and the new technology will also be rolled out to Android customers in the near future. The receipt management technology enables businesses to capture, store, and link their receipts to transactions in their mobile business app. Receipts are captured using the customer’s smartphone camera. Metro Bank’s app then uses artificial intelligence and machine learning tools to reconcile the receipt to the customer’s transaction history automatically, with VAT identified from the receipt so it can be auto-populated. 

Canada-based Sensibill is partnering with the bank to offer this new feature, which requires no sign-up and is free for Metro Bank business customers. Research has indicated that small businesses in the UK lose 15 days of paid work a year, spending two hours each week retrieving company expenses. Metro Bank’s in-app technology is designed to ease the burden of manual receipt management for its SME customers.

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Keywords: Metro Bank, AI, money management tools, UK, mobile app, receipt management, iOS device, Android, receipts, smartphone, app, artificial intelligence, machine learning, reconciliation, VAT, Sensibill
Categories: Banking & Fintech
Countries: United Kingdom
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Banking & Fintech

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