TMCnet - World's Largest Communications and Technology Community



Cardlay Raises $4 Million to Usher Traditional Banks into the Digital Age
[December 22, 2016]

Cardlay Raises $4 Million to Usher Traditional Banks into the Digital Age

Cardlay (, a front-end Card Management Platform and Cardholder application, is announcing the release of its white label solution for banks and a $4 million funding round from private investors. The company is now forming partnerships with top-tier banks to serve as a front-end platform, assisting in optimization of their corporate account management and capitalizing on existing portfolios.

It is no secret that today's top banks worldwide are facing great challenges. As fintech companies continue to rise up and provide new solutions for businesses and end-users, banks continue to lose more customers. This is all the more evident when it comes to the digitization of finances - some banks are simply slipping behind, incapable of providing the same benefits to customers at the same rate, and now find themselves in direct competition with fintech companies worldwide.

That's where Cardlay comes in. Cardlay's card management platform optimizes banks' business processes by providing their corporate customers with an on-demand tool to manage payment cards. The softwae allows banks to automate an average of 50% of their handling resources, resulting in significantly higher profit. Furthermore, Cardlay provides banks with a digital platform so they can further capitalize on existing corporate client portfolios, offering additional digital services for cardholders and corporations to increase customer engagement, loyalty and earnings.

With Cardlay, banks can provide corporate customers with the following services:

  • Card Management system with business optimizing service tools, like expense management, VAT retrievement, travel management, financial forecasting and process automation
  • Issue, load and manage payment cards in a company controlled platform in real time
  • Place automatic limits on cards and specify where money can be spent
  • Issuing of payment cards in multiple currencies to minimize interchange fees
  • Seamless integration with most common ERP systems in order to provide a single automatic flow from completing a purchase to bookkeeping it

"While banks have a wide understanding of infrastructure, they simply do not possess the ability to understand their customers," said Joergen Christian Juul, the Founder & CEO of Cardlay. "We at Cardlay want to provide end users with a great intuitive front-end to connect with top tier banks and provide them with a much-needed digital tool to automate processes of corporate account management. Using Cardlay as a front-end card platform, banks can easily provide added value to their customers in order to retain them and ultimately create whole new revenue streams from digital services."

About Cardlay:

Cardlay aims to be a global FinTech Company that allows banks to capitalize digitally on existing portfolios. Offering new payment card functionalities, Cardlay is providing added value to companies and their cardholders to increase their involvement, engagement and loyalty to their bank. Headquartered in Denmark, Cardlay employs highly experienced senior specialist within software engineering, computer science, financial services and executive management.
Cardlay is driving change to improve the daily business lives of bank corporate customers and their employees globally, by continuously delivering innovative and market-leading software solutions. From day one, Cardlay has provided automated digital solutions with a unique user experience for a great improvement of banks business customers operations.

[ Back To's Homepage ]

Technology Marketing Corporation

35 Nutmeg Drive Suite 340, Trumbull, Connecticut 06611 USA
Ph: 800-243-6002, 203-852-6800
Fx: 203-866-3326

General comments:
Comments about this site:


© 2018 Technology Marketing Corporation. All rights reserved | Privacy Policy