Spend management platform Spendesk partnered with financial technology platform Adyen to leverage the latter's banking-as-a-service capabilities across multiple markets.

The partnership will utilize Adyen's banking licenses in the UK, US, and EU to help Spendesk enhance its payment solutions with features such as digital wallets, streamlined onboarding, and improved payment processing. Spendesk plans to leverage the partnership to accelerate new product developments to market in 2025 while maintaining regulatory compliance across its operating regions.

Through this collaboration, Spendesk aims to improve spend management workflows for SMBs by increasing payment process visibility, adding flexible payment options, and maximizing operational efficiency.

Analyst QuickTake : This partnership builds on Spendesk's recent launch of its procurement and spend management tool for European SMBs in October 2024. Adyen is based in the Netherlands and holds banking licenses across Europe, so the collaboration is expected to support Spendesk in expanding its operations and activities within the region.