Emburse, an expanse management and accounts payable automation company, has launched Emburse Global Reimbursement, which the company says creates a faster, cheaper, automated way to reimburse employees’ out-of-pocket expenses, across multiple countries and currencies.  The solution is powered by international payments provider TransferWise. According to an announcement, global organizations have been forced to rely on the SWIFT network to facilitate payments from their corporate accounts to their employees, requiring several correspondent banks in the exchange process. This results, said Emburse, in hidden fees, unfavorable exchange rates and slow transfers. Emburse Global Reimbursements uses TransferWise’s own local bank accounts to exchange foreign currency, providing low, transparent fees, and always uses the mid-market exchange rate. Emburse Global Reimbursements, said the announcement, accelerates expense reimbursements to employees and provides organizations with a simpler, more convenient reimbursement process, while significantly reducing costs. Eric Friedrichsen, CEO of Emburse, said that with the new tool, “employees can now be reimbursed for their expenses in minutes, not days, giving them peace of mind and improving their cash flow.” He said companies can save more than 60% of the overall international transfer costs, with transparent fees and no exchange rate markups.