[Press Release] AXA Bank digitizes credit card statements for business transactions

Brussels, Jan. 31, 2023 – AXA Bank is now making credit card statements available digitally to the accountants of its customer-entrepreneurs. The bank is using CARO, a service of CodaBox, a subsidiary of Belgian fintech Isabel Group, for this purpose. The service is immediately available to the accountants of AXA Bank’s professional customers. CodaBox is the only company in Belgium to offer this digital service.

A lot of entrepreneurs still deliver their credit card statements manually to their accountant. They download, upload, scan or print and send them, digitally or otherwise, to their accountant. Then the bookkeeper himself registers the data in the entrepreneur’s accounts. The AXA cardholder can now give permission to automate that process with CARO.

"AXA Bank wants to make it so easy for its customers and their accountants. In that respect, CARO is really an added value for all parties. Our customer no longer has to do any research and his accountant no longer has to type the statements of expenses into the accounting software. Both, thanks to CARO, have more time to do what they love to do."

Nele Bamps Director Segment Journey Business at AXA Bank

Marie Costers, VP Business Solutions at Isabel Group: “We see the number of business credit card transactions in Europe increasing. Until recently, a credit card statement did not provide the necessary details for automated reconciliation of the expense in the accounting software. Thanks to CARO, this is now possible: all the necessary details arrive directly in the accounting package.”

CARO has been in existence since December 2020. Crelan, which acquired AXA Bank in 2021, also uses this service for its corporate clients.