from London England it's the cube covering Koopa inspire 19 Mei brought to you by Koopa hey welcome to the cube Lisa Martin on the ground in London at Koopa inspire 19 very pleased to welcome to the cube for the first time we have Dean Henry the EVP of business financing and supplier management from American Express Dean welcome to the cube thank you happy to be here so let's talk about payments we those of us in our date lives as consumers the b2c transactions are so easy these days right you can transact from your phone from your watch it's we're doing everything we're paying bills we're buying things yet in the b2b space business payments haven't had as rapid as innovation as we seen on the on the consumer side talk to me a little bit about the business-to-business payments industry from MX's perspective before we get in to what you guys are doing with Cooper yeah well first comment on on the innovation you're absolutely right the innovation that's happening and retail payments hasn't made its way to b2b payments I think that's mostly a function of you know a consumer having the ease to try something new download an app and and change the way that they transact a bit at a store but with with whomever they're paying whereas a big business has a lot of processes that drive their their business spend and the way that they manage it and systems and you know as we're here talking with Koopa today you know the the processes that they automate and that they bring are critical to you know making payments happen and because because of that there's just barriers to entry that make make b2b payments harder to mirror the speed that you see in the retail side that said there's a lot of exciting things happening you know b2b payments is a hundred and twenty seven trillion dollar market globally it's a big profit pool that a lot of players are innovating in and when you look into the landscape and you consider who's playing out there you know there's traditional big banks that have been sort of the stalwarts of Global Payments there's obviously a large and grow and growing FinTech community with new companies every day that are in the media offering new capabilities to to clients and then there's players like American Express and I think we're actually uniquely positioned in that landscape with not too many exactly like us and when you look at you know the big banks and some of the challenges that they have when I talk to our customers about fees and and you know processes that take a while or money that moves with with relative uncertainty in terms of how much is actually going to show up and the beneficiaries account based on lifting fees as money moves between banks and then you look at the FinTech community that's new innovative solutions but you're not sure that they're always going to be around you know after the next funding cycle I think we're we're trying to play an in the middle where were a great alternative to the FinTech community we're a global platform for payments we're a global platform for lending so we can really do all the things that a FinTech can do all the things that a bank can do in many instances and and do that with the brand and the certainty that is a max and so we're excited about the space and we're investing a lot of time and energy and and partnering where we need to in order to make sure our customers can transact where they want us to to help them facilitate commerce right that point of enabling a customer to transact where they want what influences are you is the American Express seeing and being able to infuse into your partnerships from the consumer side from that consumer who buy something with a click or a swipe on Amazon and wants to be able to do something similar in their business day job tell me about the influence that American Express is seeing and what that position that you just subscribe is allowing you guys to say all right this is a direction that we're gonna go and because we know yeah I need to meet you mr. customer where you are right what look I think part of it is is demographics to be perfectly honest if you look at Gen Y and Gen Z they're they're more of the decision makers in today's management they will be even more tomorrow's management and so they to your point have that expectation that their business life shouldn't be that much more complex in their personal life so so what we're trying to do is find the partners that have the best user experience and make sure our solutions work seamlessly there that's step one that's that's what we're doing here with Koopa step two is we're also trying to make sure that our capabilities on on Amex a digital real-estate works just it just as easily as our retail side of our business and we're we're doing that you know with a with the unifying principles and American Express which is you know the trust and the service and the brand that that we offer to our clients but then also the the merchant rewards so there's a rich history of of American Express providing a differentiated value proposition with the credit card rewards that that exists and we take take that capability into our our business relationships and make sure that it's a value add to those customers that want it so let's talk about what American Express is doing with Kupa what was it just announced with Koopa pay so yeah Koopa pay you know I was impressed by the stats that Rob put up there they're they're growing quickly and we want to be part of it we're a candidly following the requests of our clients who want American Express as a payment option inside the Koopa pay we offer a tremendous value prop inside of Koopa pay the data that flows with a payment the data that we're able to collect that differentiates us from our competition helps our our clients reconcile their payments eliminate the paper realize the efficiencies that that Koopas clients are excited about and so we're they're simply enabling American Express to be a payment option and my hope and I think Koopas hope is that that's step one of a partnership and and will be able to do more together to serve our collective clients so this is enabling American Express of virtual cards be available as a payment option within Kupa pay yes and what is a virtual card so virtual card is is a virtual credit card number it can be a one-time use or a multi-use okay and you know our our clients use it for several different reasons you know buyers of of goods use a virtual card in order to make the payment of a supplier easier to get more data along with the transaction so that they can reconcile a payment to a purchase order and to associated invoices the suppliers get benefit as well and in that they to get enhanced data to reconcile payment that they receive on their end there's also working capital benefit in that if if a buyer chooses to pay early an invoice we can extend financing and pay the the supplier earlier so that they have more working capital to operate their business and so so it's a real balanced value prop where both parties are realizing value is this going to enable a buyer to have benefits like increased security with the way the virtual card works yeah what increased security and so far as a virtual card isn't is encrypted the fact that you know American Express stands behind all of our card payments with our brand and our promise that differentiates from you know a traditional bank payment you know ACH and other other low value clearings that don't have those guarantees along with it and so so that is a big differentiator but but I think candidly the the biggest benefit our clients see is the enhanced data and the working capital I think that's where we're trying to enrich both sides of the transaction give more data to enable the automation that's happening in the industry and extend credit so that businesses can operate more efficiently and and and by the things that they need to buy and hire the people they need to hire is this also something that will give suppliers and buyers more visibility you talked about enhanced data well they now have more visibility over buyers like different supplier options or suppliers with different ways that they can get paid so certainly enhance visibility on on when a suppliers getting paid and relative to the invoice date and what we're trying to do is work with Koopa and work with our partners around well how do we enhance the data so that so that as you know Koopa talks about the community of suppliers that their buyers utilize how can we be part of that how do we support the buyers and making decisions the suppliers and utilizing American Express as a as a source to be a verified business that has gone through all the legal legal checks that are required in commerce and bringing both of those capabilities to to do a transaction on the Koopa Network one of the stats that Rob mentioned this morning and love stats I really geeked out over them I don't know why you say there's five million plus suppliers on the Koopa platform is that an advantage that American Express sees to help extend the footprint of your virtual cards absolutely I what I'm candidly more excited about is the millions and millions of suppliers that are on the American Express network and that's an asset that I see personally as something that we can work with with Koopa and other partners to bring you know the businesses that are already verified that are on our network that we personally talk to every you know every year and bring those verified profiles to the commerce networks like Koopa so that it's easier to transact on Koopa if you have an American Express card got it and then last question for you is if we look at this partnership what was announced today this is launching in the UK and Australia first and then you'll roll it up more globally can you tell me a little bit about why those two regions yeah one that's going to be available for customers to use so so the honest answer is we wanted to be fast to market and quick and quick out to our customer base the UK and Australia are two very important geographies for us so we're launching first in those places by the end of the year and then looking at rolling out in the US and early 2020 and then from their expanding alongside excellent well Dean thank you for joining me on the cube this afternoon sharing what's new with Amex and Cooper we appreciate your time thank you so much really happy to be here excellent for Dean Henry I'm Lisa Martin you're watching the cube from Cooper inspire London 19 thanks for watching [Laughter]

(upbeat music) >> Announcer: From London, England, it's theCUBE. Covering Coupa Inspire'19 EMEA. Brought to you by Coupa. (gentle music) >> Hey, welcome to theCUBE. Lisa Martin, on the ground in London, at Coupa Inspire'19. Very pleased to welcome to theCUBE for the first time, we have Dean Henry, the EVP of Business Financing and Supplier Management from American Express. Dean, welcome to theCUBE. >> Thank you, happy to be here. >> So let's talk about payments. Those of us in our day lives as consumers, the B2C transactions, they're so easy these days, right? You can transact from your phone, from your watch. We're doing everything. We're paying bills, we're buying things. Yet in the B2B space, business payments haven't had as rapid as innovation, as we've seen on the consumer side. Talk to me a little bit about the business-to-business payments industry from AMEX's perspective, before we get in to what you guys are doing with Coupa. >> Yeah well, first comment on the innovation you're absolutely right. The innovation that's happening in retail payments, hasn't made it's way to B2B payments. I think that's mostly a function of a consumer having the ease to try something new. Download an app, and change the way that they transact a bit at a store. Or, a bit with whomever they're paying. Whereas, a big business has a lot of processes that drive their business spend. And the way that they manage it, and systems. As we're here talking with Coupa today, the processes that they automate, that they bring, are critical to making payments happen. Because of that, there's just barriers to entry, that make B2B payments harder to mirror the speed, that you see in the retail side. That said, there's a lot of exciting things happening. B2B payments is a $127 trillion market globally. It's a big profit pool that a lot of players are innovating in. And when you look into the landscape and you consider who's playing out there. There's the traditional big banks, that have been sort of the stalwarts of global payments. There's obviously a large and growing fintech community, with new companies everyday that are in the media, offering new capabilities to clients. And then there's players like American Express. And I think we're actually uniquely positioned in that landscape, with not too many exactly like us. And when you look at the big banks and some of the challenges that they have. When I talk to our customers about fees, and processes that take awhile. Or money that moves with relative uncertainty, in terms of, how much is actually going to show up in the beneficiary's account, based on lifting fees, as money moves between banks. And then you look at the fintech community. That's new innovative solutions, but you're not sure that they're always going to be around, after the next funding cycle. I think we're trying to play in the middle. Where we're a great alternative to the fintech community. We're a global platform for payments. We're a global platform for lending. So we can really do all the things that a fintech can do. All the things that a bank can do, in many instances. And do that with the brand, and the certainty, that is AMEX. So we're excited about the space. And we're investing a lot of time, and energy. And partnering where we need to, in order to make sure our customers can transact where they want us to help them facilitate commerce. >> Right, that point of enabling a customer to transact where they want. What influences are you, is American Express, seeing and being able to infuse into your partnerships, from the consumer side? From that consumer who buys something with a click, or a swipe on Amazon, and wants to be able to do something similar, in their business day job. Tell me about the influence that American Express is seeing. And what that position that you just described, is allowing you guys to say, all right this is the direction that we're going to go in. Because we know we need to meet you, Mr. Customer, where you are. >> Right, well look I think part of it is demographics to be perfectly honest with you. Look at Gen Y, and Gen Z. They're more of the decision makers in today's management. They will be even more in tomorrow's management. And so they, to your point, have that expectation that their business life shouldn't be that much more complex, than their personal life. So, what we're trying to do is find the partners that have the best user experience. And make sure our solutions work seamlessly there. That's step one, that's what we're doing here with Coupa. Step two, is we're also trying to make sure that our capabilities on Amex, a digital real estate works just as easily as a our retail side of our business. And we're doing that with the unifying principles of American Express, which is the trust, and the service, and the brand that we offer to our clients. But then, also the merchant rewards. So there's a rich history of American Express providing a differentiated value proposition, with the credit card rewards that exist. And we take that capability into our business relationships, and make sure that it's a value add to those customers that want it. >> So let's talk about what American Express is doing with Coupa. What was just announced with Coupa Pay? >> So yeah, Coupa Pay, I was impressed by the stats that Rob put up there. They're growing quickly, and we want to be part of it. We're candidly following the requests of our clients who want American Express, as a payment option inside Coupa Pay. We offer a tremendous value prop inside of Coupa Pay. The data that flows with a payment, the data that we're able to collect, that differentiates us from our competition. Helps our clients reconcile their payments, eliminate the paper, realize the efficiencies that Coupa's clients are excited about. And so, we're there simply enabling American Express to be a payment option. And my hope, and I think Coupa's hope, is that that's step one of a partnership. And we'll be able to do more together, to serve our collective clients. >> So this is enabling American Express virtual cards to be available as a payment option, within Coupa Pay? >> Dean: Yes. >> And what is a virtual card? >> So a virtual card is a virtual credit card number. It can be a one-time use, or multi-use. >> Okay. >> Our clients use it for several different reasons. Buyers of goods use a virtual card, in order to make the payment of a supplier easier. To get more data, along with the transaction, so that they can reconcile a payment to a purchase order, and to associated invoices. The suppliers get benefit as well. In that, they too get enhanced data to reconcile a payment, that they receive on their end. There's also working capital benefit. In that, if a buyer chooses to pay early an invoice, we can extend financing, and pay the supplier earlier. So that they have more working capital to operate their business. So it's a real balanced value prop, where both parties are realizing value. >> Is this going to enable a buyer to have benefits, like increased security, with the way the virtual card works? >> Increase security, in so far as a virtual card is encrypted. The fact that American Express stands behind all of our card payments, with our brand and our promise. That differentiates from a traditional bank payment. You know ACH, and other low value clearings, that don't have those guarantees along with it. So that is a big differentiator. But I think candidly, the biggest benefit our clients see is the enhanced data, and the working capital. I think that's where we're trying to enrich both sides of the transaction. Give more data to enable the automation that's happening in the industry. And extend credit, so that businesses can operate more efficiently. And buy the things they need to buy. And hire the people they need to hire. >> Is this also something that will give suppliers, and buyers, more visibility? You talk about enhanced data. Will they now have more visibility over buyers, like different supplier options? Or suppliers, with different ways that they can get paid? >> So certainly, enhanced visibility on when a supplier is getting paid. And relative to the invoice date. And what we're trying to do is work with Coupa, and work with our partners around, well how do we enhance the data so that as Coupa talks about the community of suppliers, that their buyers utilize. How can we be part of that? How do we support the buyers in making decisions? The suppliers in utilizing American Express as a source to be a verified business, that has gone through all the legal checks, that are required in commerce. And bring both of those capabilities, to a transaction on the Coupa network. >> One of the stats that Rob mentioned this morning. I love stats, I really geek out over them, I don't know why. He said there's five million plus suppliers on the Coupa platform. Is that an advantage, that American Express sees, to help extend the footprint of your virtual cards? >> Absolutely, what I'm candidly more excited about is the millions, and millions, of suppliers that are on the American Express network. And that's an asset that I see personally, as something that we can work with Coupa, and other partners, to bring the businesses that are already verified. That are on our network, that we personally talk to every year. And bring those verified profiles to the commerce networks, like Coupa, so that it's easier to transact on Coupa, if you have an American Express card. >> Got it, and then last question for you is if we look at this partnership, what was announced today, this is launching in the UK and Australia first. And then, you'll roll it out more globally. Can you tell me a little bit about why those two regions? When that's going to be available for customers to use? >> So the honest answer is we wanted to be fast to market, quick out to our customer base. The UK and Australia, are two very important geographies for us. So we're launching first in those places, by the end of the year. And then, looking at rolling out in the US in early 2020. And then, from there expanding alongside Coupa globally. >> Tell me, as we're sitting here in London. Some of the interesting things going on, it's a lot of geopolitical challenges. Everybody knows about Brexit, and the election coming up, on the 12th of December. Tell me a little more about the UK market for American Express. What were some of the market dynamics that Amex said, hey there's an opportunity here for, I'll use a word that Coupa uses, acceleration, like accelerated time to market. Give me a little more about that. >> Yeah I mean candidly, like the geopolitics haven't really played into our launch. But the UK has been a strong market for Amex, for a very, very long time. Brighton, where we have a very big presence with the local football team in Brighton. That's just a metaphor for the broader extension, and client base, and employee presence that we have here. And so we wanted to make a big partnership announcement, in an important place. And the UK felt like the right market to do it in. >> Excellent, well Dean thank you for joining me on theCUBE this afternoon. Sharing what's new, with Amex and Coupa. We appreciate your time. >> Thank you so much. I'm really happy to be here. >> Oh excellent. For Dean Henry, I'm Lisa Martin. You're watching theCUBE, from Coupa Inspire London '19. Thanks for watching. (gentle music)