Core Insights - PNC Bank has partnered with Extend to enhance payment capabilities for its commercial clients, allowing businesses to manage expenses more effectively [2][4] - The collaboration enables the use of unique virtual cards to reduce card fraud risks and provides temporary virtual cards for various business-related expenses [3][4] - The partnership aims to streamline payment workflows, improve security, and optimize business spending through real-time transaction monitoring and budget alignment [3][4] Company Developments - The new payment capabilities will allow businesses to enroll their existing PNC Bank commercial cards to access Extend's digital tools [2] - Andrew Jamison, CEO of Extend, emphasized the flexibility and control this partnership offers to clients in managing payments and expenses [4] - Tom Lang from PNC highlighted the goal of helping clients run their businesses more efficiently through intuitive solutions [4] Industry Trends - Research indicates that 44% of CFOs utilize commercial cards to streamline payment workflows, with 43% seeking better control over approvals [4] - Corporate cards are evolving into strategic tools for liquidity control and spend visibility, addressing the need for speed while maintaining financial oversight [5][6] - The use of virtual cards can eliminate ambiguities in payment processes, providing clear rules for vendor payments and reducing operational burdens [6][7]