Arion Bank continues to lead in offering digital innovations

Arion Bank continues to be at the forefront of offering digital innovations that make it easier for businesses and individuals to manage their finances efficiently and securely. The bank is now adding two solutions that simplify credit card transaction management for businesses. On one hand, there's authorization management in online banking; on the other hand, customers can now upload images of payment receipts directly into the Arion app.

"We're seeing tremendous satisfaction from businesses with these latest solutions of ours,"

says Sigurhans Vignir, product manager in the corporate and investment banking division, noting that the solutions are fundamentally very simple and user-friendly.

"The first one works by giving key online banking users enhanced permissions to create cards and modify and manage the company's credit card authorizations within the overall limit set initially," says Sigurhans Vignir. "This simplifies people's lives tremendously and helps companies maintain oversight of their card usage. For example, if an employee is traveling abroad and needs increased flexibility in card usage, it takes no time to adjust that within the company without needing to call us."

"The second solution is an excellent addition to the first one, allowing users to take pictures of receipts and save them in the Arion app along with additional information, such as cost center or accounting code. For instance, if the aforementioned traveling employee takes a client out for dinner, the receipt for the meal, along with additional information, becomes immediately accessible in the company's online banking where accounting staff can retrieve the data. This eliminates the scenario where accounting staff need to search everywhere for crumpled receipts."

Soon, it will also be possible to connect this solution directly to accounting systems, where both the receipt and the corresponding transaction information will be delivered straight into the accounting system.

"We are always looking for ways to simplify life for both businesses and individuals and help them manage their finances."