In today's tough business environment customers need to make sure they're in control of their costs and making use of innovative technology to make payments more efficient and Lloyds Bank will be able to fulfil this demand.

The solution, branded BM Lloyds Bank - Card Data Management, will help organisations of all sizes gain complete control of corporate spend and reduce business costs. The bank's commercial card customers will be able to efficiently manage everything from statements, transactions and expense reporting, through to requisitions and payments to suppliers, via a single, integrated platform.

Lloyds Bank's larger customers will be able to improve working capital and reduce resource-sapping manual invoice processing by using Spendvision's advanced payables financing. Managing the financing of high-value invoices using short term credit is a cost and process efficient option for companies with a large number of regular supplier relationships. Payables cards are issued to each main supplier and are dynamically funded whenever an approved invoice or invoices are uploaded. The supplier receives notification that it can draw on available credit and the card limit reverts back to zero once funds have been taken. The supplier benefits from being paid earlier than standard invoice terms, and the buying organisation enjoys improved working capital and more effective use of credit lines.

The expense management element of this solution will give smaller businesses and corporates complete visibility and control of their business spend via a simple, easy to use online interface. This will help them manage everything from reporting and statementing right through to more sophisticated expense management automation that allows them to capture, manage and report on all their corporate expenditure.

Allister Mitchell, Head of Card Products, Transaction Banking, Lloyds Banking Group, said: "Organisations of all sizes are under pressure to identify ways to monitor and manage their business expenditure. Working capital is a particular concern for businesses looking to maintain growth during the current challenging economic conditions. Our decision to partner with Spendvision is part of our wider commitment to understand and respond to the needs of our business customers. We believe this service gives us an edge and places us firmly at the front of the pack."

Shane Bruhns, CEO, Spendvision, added: "The fact that Lloyds Bank chose to partner with us is testament to the significant experience our international team has built up working with some of the world's largest financial organisations and directly with a wide array of end customers. The corporate card market has become phenomenally competitive. As Lloyds Bank look to grow their business, value added services like ours, which help organisations save time and money, have a strong track-record in attracting new customers."

Lloyds expects to launch its Card Data Management service to business customers by the end of 2012. The service will be delivered as an entirely online solution that is flexible, scalable and can be configured to the needs of each customer.