Nordea, The Royal Bank of Scotland and Société Générale enter into corporate card alliance
Nordea, The Royal Bank of Scotland and Société Générale announce an alliance to deliver corporate card solutions for multinational companies operating across the globe.
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.
"The alliance exists to combine local knowledge with consolidated financial information," says Leo Olsson, Head of Corporate Cards in Nordea. "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."
Each alliance member is a major player in their own countries and markets, and each member understands the local legal environment, currencies and business practices of that market. These benefits are important to the multinational head office and to their employees, who rely on their corporate card when doing business in so many different locations.