Rho product updates: November 2024

From improving compliance to helping teams troubleshoot card declines faster, here's a look at some features we shipped in November.
Author
Luis Gonzalez
Updated
November 27, 2024
Read time
7

Simplify expense management

Spending made smarter

Eliminate late receipt submissions and streamline transaction reconciliation with Rho.

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At Rho, we recognize just how important it is to have an intuitive mobile banking experience. 

So, in November, the team was hard at work improving critical aspects of the Rho app experience to create a better, more seamless user experience for banking on-the-go. 

These changes highlight our ongoing mission: to make finances frictionless for businesses, no matter where they are. Here’s a look at some of the biggest changes we shipped this month to the Rho mobile app: 

Search for expenses and reimbursements

Sometimes, you’ll need to find specific transactions that may have happened a few weeks ago. But looking through pages and pages of transactions, especially when you have lots of card spend across teams, can be a major headache.

Whether to double-check details or confirm that charges went through as planned, we’ve implemented a search feature to help teams easily and quickly look up expenses and reimbursements on Rho. 

To ensure you can find any transaction you need, users can search for expenses by merchant, merchant category, username, assigned budget, amount or label.

Updated expenses drawer

Every now and then, teams need a little nudge to remind them of spend compliance tasks, such as uploading receipts or including detailed memos necessary for expenses over a certain threshold. 

With our updated expenses drawer, approvers can now send reminder emails for missing or incorrect expense requirements. We’ve also added a flag button to manually highlight out–of–policy expenses.

With this updated functionality, teams can look forward to a smoother month-end close process by resolving spend compliance tasks well ahead of time. 

Revamped card decline notifications

Cards can be declined for a variety of reasons and knowing exactly what that reason is can help cardholders figure out next steps. 

To provide more clarity around why a card has been declined, we’ve updated the in-app notification copy to surface adequate information and display actionable buttons where applicable, e.g., letting a user unlock a card that was declined because it was locked. 

With this additional context, cardholders can resolve the issue much faster and can quickly return to using their Rho card.

Want to experience a better business banking platform on the go?

With these updates, Rho users can look forward to an enhanced mobile workflow that enables faster troubleshooting, better visibility, and improved compliance.

Ready to get started?

Download the Rho App on the App Store →

Download the Rho App on Google Play →

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Rho is a fintech company, not a bank or an FDIC-insured depository institution. Checking account and card services provided by Webster Bank N.A., member FDIC. Savings account services provided by American Deposit Management Co. and its partner banks. International and foreign currency payments services are provided by Wise US Inc. FDIC deposit insurance coverage is available only to protect you against the failure of an FDIC-insured bank that holds your deposits and subject to FDIC limitations and requirements. It does not protect you against the failure of Rho or other third party.
The Rho Corporate Card is issued by Webster Bank N.A., member FDIC pursuant to a license from Mastercard.
Investment management and advisory services provided by RBB Treasury LLC dba Rho Treasury, an SEC-registered investment adviser and subsidiary of Rho. RBB Treasury LLC facilitates investments in securities: investments are not deposits and are not FDIC-insured. Investments are not bank guaranteed, and may lose value. Investment products involve risk, including the possible loss of the principal invested, and past performance does not future results. Registration with the SEC does not imply a certain level of skill or training. Treasury and custodial services provided through Apex Clearing Corp. ("Apex") and Interactive Brokers LLC ("Interactive"), registered broker dealers and members FINRA/SIPC. Interactive rates may vary from Apex rate shown above. For additional information about investment management and advisory services provided by Rho Treasury, please refer to Rho Treasury’s ADV-2A Wrap Fee Brochure.
             
This material presented is for informational purposes only and should not be construed as legal, tax, accounting or investment advice. Under no circumstances should any of this material be used for or considered as an offer to sell or a solicitation of any offer to buy an interest in any securities. Any analysis or discussion of financial planning matters, investments, sectors or the market generally are based on current information, including from public sources, that we consider reliable, but we do not represent that any research or the information provided is accurate or complete, and it should not be relied on as such. Our views and opinions are current at the time of publication and are subject to change. You should consult with your attorney or relevant professional advisor for advice particular to your personal or business situation.
                  
Rho Treasury is not insured by the FDIC. Rho Treasury are not deposits or other obligations of Webster Bank N.A., or American Deposit Management Co.’s partner banks, and are not guaranteed by Webster Bank N.A., or American Deposit Management Co.’s partner banks. Rho Treasury products are subject to investment risks, including possible loss of the principal invested.
*This reflects the sought net yield based on 90-day Treasury Bill rates as of [DATE] and an annual fee which ranges from 0.15% for deposits of $20M or more to 0.6% (the maximum annual fee) for deposits under $2M. Individual results may vary depending on the actual investment date and investment products selected. Past performance is not a guarantee of future performance results. The yield is variable and fluctuates without prior notice. The rate shown is net of fees. The amount of Treasury Bills available at a particular yield will depend upon the sellers’ offer size; any remaining cash balance after the purchase may not earn the same yield.

© 2019-2024 Under Technologies, Inc. DBA Rho Technologies. Rho is a trademark of Under Technologies, Inc.
Rho is a fintech company, not a bank. Checking and card services provided by Webster Bank, N.A., member FDIC; savings account services provided by American Deposit Management Co. and its partner banks.