CodaBox and Crelan pioneer new service CARO

CodaBox, a subsidiary of the Belgian fintech Isabel Group, introduces its new service CARO. This allows bookkeepers to automatically enter customers’ digital credit card statements into their accounting software. They can immediately activate the service for their customers with a company account at Crelan Bank.

Automatic access to business credit card statements is a Belgian first. “Until now, accountants manually add the transactions on the statement of expenditure to the accounts every month. Accountants have long been asking for this process to be automated in order to save even more time. We are now doing that with CARO”, says Marie Costers, Managing Director of CodaBox.

Exchanging fewer documents

CARO is immediately available for accountants. With the agreement of the cardholder, CodaBox links the statements of expenditure with the accounts of their client, just as the fintech, via CODA, does for the statements of ordinary bank accounts. CARO is compatible with the main accounting applications.

“In view of the deadline for the VAT declaration, we have the same stress and frustration every month and every quarter due to missing or delayed statements. This CodaBox innovation will make life easier for both our experts and our customers,” explains Laurent Oosterlinck of the accountancy firm VGD in Ghent.

Crelan as the first bank to launch the new service

Crelan is the first Belgian bank to offer CARO to its customers. “By focusing on automation, Crelan wants to greatly simplify the financial administration of its professional clients. With CARO, CodaBox helps us with this. We are proud to be the first to innovate in Belgium with this service”, says Vincent Van Zande, Market Manager Business at Crelan.