Bank of the West, a subsidiary of BNP Paribas, and Brex, the corporate card that accelerates entrepreneurs and scaling businesses, announced a co-branded corporate card with no security deposit and no requirement for U.S. credit history. As the first co-branded corporate card announced by Brex, this card supports Bank of the West's focus on enhancing the business solutions available to its commercial clients and follows the recent launch of the Bank's Innovation Hub, which offers dedicated banking services for startups.
The corporate card delivers Brex's innovative payment offerings, including underwriting, expense management and rewards features, to Bank of the West clients. Available through Bank of the West's Innovation Hub, startup commercial clients will receive all key benefits offered to Brex cardholders, including premium rewards, easy card issuance and expense management, as well as automatic receipt capture.
"Bank of the West has a history of innovation in the commercial banking and payments space, providing solutions that maximize flexibility for clients looking to quickly scale their businesses and access much needed funds," said Jean-Marc Torre, Senior Executive Vice President, Head of Corporate and Commercial Banking, Bank of the West. "We are pleased to offer this new corporate card with Brex to our clients, providing them with access to the resources and funding growth companies and entrepreneurs need."
Brex and Bank of the West began a pilot program for the corporate card in Q2 2019. In response to customer demand and adoption, Bank of the West will roll out the product more broadly to its North America commercial clients. Bank of the West and Brex co-branded corporate card customers will receive a 30,000 Brex rewards points signup bonus upon spending $1,000 in charges.1
"It is an honor to partner with a leading financial services brand like Bank of the West and we're excited about collaborating with the bank in a combined offering that brings a high quality product experience to an expanded range of business customers," said Henrique Dubugras, co-founder and co-CEO of Brex. "This strategic relationship with Bank of the West provides us with the ability to meet our customers wherever they are: online, in brick-and-mortar, or a combination of both."