Innovative partnership unveils white-label cards, corporate travel and expense controls, and brand enhancement solutions designed to save premium sports, entertainment, and events businesses time and money as well as create new revenue opportunities.
Today marks a transformative moment in the world of motorsports, as Mbanq, a premier banking technology and compliance solutions provider, and Qorbis, a leader in embedded finance, join forces to introduce a cutting-edge FinTech solution designed exclusively for premium sports, entertainment, and events brands.
Stephen Williams, CEO of Qorbis, says, "Sports, entertainment and events businesses have internationally mobile teams, large cost centers and the need to differentiate P&L between each production. The Qorbis platform gives these businesses complete control and visibility of their finances, with rapid transfers and real-time expense management, on any scale. The resulting efficiencies in time and cost for these brands are significant.”
The Qorbis platform, powered by Mbanq, delivers a comprehensive digital banking experience for business customers seamlessly integrated into the identities of sports, entertainment, and events brands. This innovative collaboration introduces a range of branded financial solutions, including unique, white-label cards, flexible corporate travel and expense controls, and new revenue streams from purchases by fans of teams, entertainment franchises, and events.
This end-to-end solution provides businesses with real-time business spend and expense management solutions, offering unparalleled control and visibility into spending and flexible expense reporting, all accessible from a single device. The platform also enables the creation of branded digital revenue streams by sharing income from fan purchases; a game-changer for brands seeking to maximize monetization opportunities.
Stephen Williams adds, "Brand identity is a major facet of motorsports because of the trust fans place in major race teams. Qorbis’ collaboration with Mbanq empowers the motorsports industry to extend the brand experience beyond the track into fans' everyday lives. Doing so has significant commercial benefits and creates a huge wealth of user data that can be leveraged to better inform decision making and more.”
The Mbanq and Qorbis partnership enhances brand loyalty through promotional power, delivering simple, smart, and secure financial services alongside bespoke reward and loyalty programs. This revolutionary FinTech solution is set to redefine the relationship between sports, entertainment, events, and finance, providing major brands with the tools they need to transform cost centers into revenue streams and deepen engagement with their fan bases.
Vlad Lounegov, CEO of Mbanq, says, “By incorporating FinTech solutions into core offerings, businesses immediately differentiate themselves from traditional competitors by embracing future technology trends and innovation.
“As businesses across sectors, including retail, travel, hospitality, e-commerce, food and beverage, and automotive, embrace embedded finance, the possibilities for new revenue streams, brand enhancement and customer engagement are limitless.”
US-based Mbanq is a leading banking technology and compliance solutions provider. It creates and operates traditional banks, neobanks, credit unions and FinTech platforms for clients through its digital banking platform, white-label mobile apps and comprehensive support services.
Mbanq is one of the fastest-growing FinTechs in the world. With a global presence and a focus on innovation, technology, and compliance, the company continues to drive the evolution of banking, enabling financial institutions to leap ahead in an increasingly digital world. www.mbanq.com
Qorbis helps businesses across the US take control of spending and take advantage of the benefits of embedded finance. Its secure and scalable platform embeds customized financial and concierge solutions into a company's own product and services, creating new revenue streams, enhancing its brand, and saving time and money. Through partnerships with best-in-class providers of banking and technology, any size business can then offer a range of branded and licensed services to end users, including corporate cards, accounts, P2P payments, and a global travel and lifestyle concierge. www.qorbis.com
Mbanq and featured clients are financial technology companies and not a bank. Banking services are provided by Mbanq's partner bank, Evolve Bank & Trust, Member FDIC.
View source version on businesswire.com: https://www.businesswire.com/news/home/20231116333418/en/
Contacts
Media Contact:
Alex Player
alex.player@mbanq.com
