Bahraini Saudi Bank (BSB) has introduced for the first time in Bahrain a unique Corporate Card, which provides enhanced feature-rich functionality from MasterCard International. This represents a new banking service from BSB following its recent acquisition of Arab Financial Services’ (AFS) card portfolio, which is in line with BSB’s strategy.
The ‘BSB MasterCard Corporate Card’ is a powerful, flexible tool that helps companies simplify the management of their employee’s Travel & Entertainment (T&E) expenses. It is particularly suited for use by companies whose executives travel frequently.
The new card offers corporate customers previously unavailable benefits as a result of the integration of MasterCard International’s proprietary ‘Smart Data Online’ (SDOL) software. This software allows each of BSB’s corporate clients to customise the way they manage the MasterCard Corporate Cards of their individual executives. This allows them to achieve a far greater level of information and control than previously possible.
By being able to fully customise the software BSB and each of its corporate clients can agree the level of IT integration with their respective infrastructure. Once in place, the software enables corporate clients to control the way the card is used by their executives, setting spending limits, blocking certain outlets and providing a real-time view of expenditures. At the same time it allows them to streamline their internal card management processes. An annual automated expense report is also issued and this can help organisations reduce costs associated with producing independent reports.
The software offers simplified reporting and enhanced tracking of all cards in use. Authorisation levels are set by the corporate client for each card holding executive. It also secures all electronic communications between the client and the card issuer, from statements to payments, and comes with increased insurance on all cards. A round-the-clock help desk provides employees with an added level of security and convenience. “With this new offer our corporate clients will gain a value-added service from BSB as a result of our entry into the corporate card issuing business,” said Mohsin AlKhan, Manager Retail Banking, Bahraini Saudi Bank. “Not only will they be able to enhance expense management activities but they will be able to do so in a simplified, fully automated and cost-effective manner.”
“Bahraini Saudi Bank has taken the lead in bringing SDOL-enabled MasterCard International Corporate cards to Bahrain. We look forward to developing our relationship with the bank and to continued co-operation to drive the growth of this line of business in the Kingdom,” added Denzil Lawson, Senior Vice-President & General Manager, MasterCard International (Middle-East & North Africa).