Join us on this week's episode of the Slice of Finance podcast, hosted by Jared S. Taylor!

Our Guest: Andrew Jamison, CEO & Co-Founder at Extend.

Key Highlights

• Extend’s Mission: Enhancing SMB finance with powerful tools like instant virtual card issuance and expense management.

• Journey to Extend: Andrew Jamison’s transition from American Express to founding Extend, addressing SMB needs overlooked by traditional banks.

• Virtual Card Benefits: Simplified, frictionless integration into existing bank cards, empowering SMBs without additional accounts or lengthy processes.

• Industry Trends: Embedded payments in B2B ecosystems and the push for seamless finance technology integration.

• What’s Next for Extend: Partnerships with major banks, covering 65% of commercial credit cards, and advancing the embedded finance revolution.

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Empowering SMBs with Financial Innovation
In the latest episode of the Slice of Finance podcast, Andrew Jamison, CEO and Co-Founder of Extend, shares his journey and the revolutionary strides Extend is making in SMB finance. With a mission to unlock the potential of existing credit cards, Extend equips small businesses with capabilities like virtual card issuance, automated expense tracking, and seamless integration with ERPs.

Andrew explains that traditional financial tools often fail to serve small businesses effectively, as they’re designed with larger corporations in mind. Extend bridges this gap, focusing on SMBs that make up nearly half of the U.S. economy.

From Fintech Vision to Reality
Before launching Extend, Andrew gained valuable insights during his 12 years at American Express and a decade working with SAP. Inspired at Money 2020 in 2016, he began to conceptualize Extend as a solution for SMBs requiring efficiency and automation. Starting with wireframes, Andrew has grown Extend into a vital platform in the fintech space.

Andrew highlights how Extend eliminates friction for users by enabling virtual card issuance in under five minutes—directly tied to existing bank cards. This contrasts sharply with other solutions requiring new accounts or lengthy onboarding.

The Rise of Embedded Payments
One key trend Andrew predicts is the growth of embedded payments within B2B ecosystems. He envisions businesses managing procurement, approvals, and payments without leaving their core platforms, such as QuickBooks or SAP. Extend is pioneering this shift by collaborating with industry leaders like SAP Concur.

This embedded approach mirrors consumer experiences in apps like Uber, where payments are seamless. In the more complex B2B landscape, Extend serves as a middleware solution, enabling such integrations while maintaining bank-grade security and compliance.

Scaling New Heights
As Extend enters its pivotal growth phase, the company is set to expand its partnerships with major financial institutions. Andrew reveals that Extend’s reach will soon encompass 65% of commercially issued credit cards in the U.S. This milestone validates the platform’s model, setting the stage for deeper adoption and standardization in the fintech industry.

By helping traditional banks compete with fintech disruptors, Extend ensures that SMBs can access modern financial tools without switching banks or platforms.

Looking Ahead
Andrew Jamison’s conversation underscores the transformative power of fintech in leveling the playing field for SMBs. With a relentless focus on automation, embedded finance, and partnerships, Extend is poised to redefine how small businesses manage their finances.

Catch the full episode of Slice of Finance to learn more about Extend’s journey and its vision for the future of fintech.

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