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Over the last week, we’ve been working hard to ensure Ramp customers retain stable spend limits and minimize business disruption. Many of them are now grappling with transferring their entire banking operations to new platforms while simultaneously maintaining cash flow. Today, we're announcing that we have expanded our solutions to give customers more control over their finances. With Ramp, businesses can find trusted banking providers with our priority referral program and have the freedom to connect multiple bank accounts to one centralized spend management platform to reduce their risk.

"We pay our customers government fees by check, and the bank collapse put all those payments in limbo. Ramp was able to increase our limit in 24 hours and connect our new bank account quickly, so our families can continue on their immigration journey."- Xiao Wang, CEO & Co-Founder, Boundless Immigration

Businesses deserve a banking provider they can rely on 

Right now, businesses everywhere are looking for better ways to safeguard and manage their assets. Events from this past week have shined a huge spotlight on the importance of financial diversification and risk management. 

Our data shows Ramp customers are changing their banking habits. Many are moving to new banks, with 3-8% asset increases in banks like Bank of America and Wells Fargo. Smaller businesses are more likely to connect with digital and regional banks, while larger businesses are veering toward enterprise banking partners.

In the near term, the stability of businesses may depend on their ability to:

  1. Find stable banking providers who have a long track record of putting customers first and delivering high-quality reliable services.
  2. Diversify assets across providers to reduce single points of failure. 
  3. Keep financial operations streamlined even as businesses diversify where they store their funds. 

Legacy corporate card and expense management software providers can’t help companies who need to perform crucial tasks such as instantly setting up employees with new cards or integrating bank accounts, owing to bulky systems and a lack of personalized customer support.

Business owners and finance teams deserve better peace of mind. They deserve financial solutions that ensure stability and drive real savings. 

Ramp is here to bolster your financial stability

Ramp is not a bank, but from day one, we’ve provided our customers with innovative solutions to help finance teams operate at their very best. Customers have the freedom of choice to connect multiple bank accounts to one centralized spend management platform, thereby supporting diversification and decreasing risk. 

"This recent situation with the banks put us in a terrible position. All our financial services, including cards, were locked into one provider. Now with Ramp we're able to connect multiple banking partners, and see a consolidated view of our spend in one platform.”-Sara Mauskopf, CEO & Co-Founder, Winnie

We are offering expanded solutions to help businesses swiftly secure their finances:

  • ‍Get introductions to reputable banks. We work with some of the most reliable banking partners in the industry who have dedicated resources to support Ramp customers with account openings. In the first 48 hours we’ve already helped hundreds of customers with over $1B in deposits connect to new banking solutions.
  • Diversify your holdings and easily connect multiple bank accounts to one centralized spend management platform. Ramp offers connections to the top 100 banks (and thousands of others), ensuring higher credit limits for your business, up to 20x higher than traditional options. On average, Ramp customers maintain two to four banking accounts at any given time. 
  • Centralize spend and manage business payments seamlessly across card, checks, ACH, and international wires.
     
  • Spend smarter using our card anchored by finance automation software. Save with card controls, flexible capital, and real-time insights designed for your bottom line.

A smarter way to manage your finances

Let’s get you back to running your business as quickly and efficiently as possible. We are committed to ensuring the safety and stability of assets for both new and existing customers. If you need a new card provider, sign up for Ramp today.

Head of Financial Partnerships, Ramp

Ben leads Financial Partnerships at Ramp. He previously led B2B Fintech and Partnerships in North America for Visa and spent a decade at American Express focused on commercial payments in various global roles.

Ramp is dedicated to helping businesses of all sizes make informed decisions. We adhere to strict editorial guidelines to ensure that our content meets and maintains our high standards.

FAQs

How Alexandra Lozano Immigration Law prepared for scale with Ramp

"I used to have to call our card provider and sit on the phone for a couple hours a week, I don’t have to do that with Ramp.”
Wayne Robinson, CFO, Alexandra Lozano Immigration Law

How Ramp helped Smart City Apartment Locating save time, expedite month close, and grow sustainably

"Five to 15 hours each month of non-value-add activities are off my plate. I’m able to be a strategic advisor versus just a tactical manager when it comes to spend management.”
Dustin Walsted, VP Finance, Smart City Apartment Locating

How TaskHuman built their runway with Ramp

“I’ve pretty much seen or used everything that’s out there, everything does something Ramp does, but nothing does everything Ramp does.”
Matthew Ferguson, Controller, TaskHuman

How First Tee transformed its bookkeeping and saved time with PwC and Ramp

"The efficiency of using PwC Bookkeeping Connect, coupled with the Ramp platform, has probably been about 75% time savings. Instead of every hour I would have had to spend on bookkeeping, I’m probably having to spend maybe 10 or 15 minutes.”
Dan Burke, CEO, First Tee San Francisco

How Mix Talent cut costs, gained transparency, and improved efficiency with Ramp

"I use Ramp’s functionality to examine the contracts and understand whether we’re getting the best terms, as opposed to just trying to get the bill paid. Ramp has allowed us to project cash flow so much better."
Paul Streitenberger, Accounting & Finance Lead, Mix Talent

How The Joffrey Ballet cut their month-end close time with Ramp

“One of the things I was looking for, and which Ramp has done for me beautifully, is to consolidate credit cards, ACH payments, check payments, and reimbursements into one place and give us a full picture for insights."
Gee Hoon Lim, Director of Finance, The Joffrey Ballet

How Beyond sped up reconciliation time 8x faster with Ramp

“With Ramp we close in 5-6 days, which is pretty quick for a company with four different subsidiaries."
Jake Steele, Senior Staff Accountant, Beyond