Recent years have seen an influx of startups providing corporate credit cards to companies, automating expense management and aiming to replace legacy providers like Concur and Expensify. Startups like Ramp generate revenue through interchange fees and sometimes through subscriptions for their expense management software. However, Navan (formerly known as TripActions), in an innovative move, has developed a unique product, Navan Connect, that merges these two income sources.

As reported by TechCrunch, Navan’s patented card-link technology allows companies to offer automated expense management and reconciliation without needing to change their corporate card provider. The company has initially partnered with Mastercard and Visa and plans to expand its network ties soon.

Navan Connect enables companies that prefer working with existing banking partners to offer more modern ways to manage expenses. The tool not only simplifies the tedious task of filing expense reports but also provides companies with insight into employees’ spending habits.

Navan’s technology lets any corporate Visa or Mastercard user set policies and budgets and automatically reconcile and file all expenses. Michael Sindicich, Navan Expense’s executive vice president and general manager, explains that this product allows the company to connect with the world’s leading card providers, delivering real-time reconciliation.

While Navan also offers its own corporate card, the company isn’t worried about Connect competing with this offering. Sindicich emphasized that the company’s focus isn’t on banking but rather on providing innovative technology and partnering with banks to offer comprehensive solutions.