The B2B FinTech Brex has launched Brex API, a tool the Silicon Valley company says will allow its customers to manage their financial information in a customizable interface. With Brex API, users will save time and reduce errors, the company said in a news release on Thursday (Oct. 21).
Brex says its API will let customers connect with other internal systems to send ACH, wire transfers or checks from their Brex Cash accounts. It will also let them create and manage users, allowing companies to bulk onboard new employees. Finally, it gives users secure access to all of their Brex account transactions, so that customers can reconcile statements, monitor activity and produce reports.
Brex says its API helped Maroo, a buy now, pay later (BNPL) wedding financing company, improve its user experience.
“Maroo’s network of wedding professionals get paid sooner than they would otherwise, building loyalty that will help Maroo scale operations in the U.S.,” Maroo Co-founder Andrei Riaskov said in the news release.
Read more: B2B FinTech Brex Acquires API Commerce Platform Weav in $50M Deal
Also on Thursday, Brex announced a new integration with the no-code platform Zapier, which the company says gives its non-technical customers the ability to use the API even if they can’t code. Customers can connect any of the 4,000-plus apps Zapier supports to their Brex accounts.
For example, if a customer is managing a budget in Google Sheets or Microsoft Excel, Zapier will automatically create a new vendor account in Brex and provision a payment card based on data entered into the spreadsheet.
“We believe financial systems should be open, giving customers complete control over their financial data, and the ability to customize based on their needs,” said Henrique Dubugras, Brex’s co-CEO. “With Brex’s API and Zapier support, we’re putting the power in all of our customers’ hands to ensure their finances work the way their companies need them to.”
It’s been a busy year for Brex, which acquired the Israeli commerce API firm Weav for $50 million in August, closed a $425 million Series D in April and expanded its instant payout features to sellers on Shopify in March.
——————————
NEW PYMNTS DATA: DIGITAL BANKING STUDY – THE BREWING BATTLE FOR WHERE WE WILL BANK
About: Forty-seven percent of U.S. consumers are shying away from digital-only banks due to data security worries, despite significant interest in these services. In Digital Banking: The Brewing Battle For Where We Will Bank, PYMNTS surveyed over 2,200 consumers to reveal how digital-only banks can shore up privacy and security while offering convenient services to satisfy this unmet demand.
Credit: Source link
