Nordea, RBS and Société Générale form corporate card alliance
18 October 2004 | 5112 views | 0
Nordea, The Royal Bank of Scotland and Société Générale have formed an alliance to deliver consolidated corporate card payments data for multinational companies.
The alliance represents the first group of banks in Europe to use the MasterCard Multinational Corporate Programme and MasterCard Smart Data OnLine, an online software solution which provides consolidated corporate card spending information across multiple countries, creating a single financial picture for company controllers and business travel managers.
Leo Olsson, head of corporate cards in Nordea says the alliance exists to combine local knowledge with consolidated financial information: "We can provide multinational businesses with a single electronic reporting software package that shows employees' business travel spend, and allows for tracking and analysis of spending to help ensure travel policy compliance."
Corporates signing up for the service will be offered a single point of contact, with a key relationship manager, he adds.
Olsson says the alliance will target the corporate customers of each of the member banks as well as new prospects and is already in operation.