For the expansion of its B2B offering, Degussa Bank has chosen the MasterCard Multinational Corporate Program, which provides multinational corporations with globally consistent and completely integrated data that enables better expense management, more leverage in vendor negotiations, and increased control and compliance.
Degussa Bank, in which Dutch ING Group had a share, can now offer its customers a holistic view to their expenditures via access to an industry-leading global data network that includes consolidated data from the Degussa Bank MasterCard Corporate Card as well as additional data sources.
The Degussa Bank MasterCard Corporate Card provides multinational companies and their employees access to the leading acceptance network with over 25 million merchant locations worldwide. Additionally, multinational corporations can utilize MasterCard Smart Data reporting solutions (MasterCard Smart Data OnLineTM or MasterCard smartdata.gen2) to seamlessly organise, consolidate and analyse spend in 14 languages and virtually every currency. These web-based applications offer local as well as global data analysis functionalities and are compatible with widely used ERP systems such as Oracle and SAP as well as with expense management systems such as Concur.
Stefan Frey, Head of Business Development., Degusssa Bank: „With MasterCard's Multinational Corporate Program, we are able to extend our portfolio with a solution that is tailored to the needs of international and cost-conscious companies. Our customers will be able to use our cards and those of partner banks all around the globe and with exactly the same tools. With MasterCard, we have a partner at our side who successfully combines global reach with local expertise and a state-of-the-art reporting platform."
Brian Lang, Vice President Commercial Products, MasterCard Europe: „This partnership with Degussa Bank underlines our successful approach in the field of Commercial Payments. Our goal is it to offer companies and other organizations integrated payment solutions which consolidate the execution, documentation, and analysis of their payments seamlessly into one single platform. We support companies in optimising their expense management and in realising sustainable cost savings in their own payment process and vis-à-vi-vis their suppliers."
Since its introduction, the MasterCard Multinational Corporate Program has turned into a real success story. The program continues to raise the bar on industry data standards which enables multinational companies to better manage and optimize their T&E and procurement spend.