Bank of the West on Oct. 7 announced plans to offer an element of MasterCard Worldwide’s inControl platform, MasterCard Purchase Control, to its commercial card customers early next year and said it is extending its commercial brand agreement with MasterCard to 2013.
The technology, which MasterCard introduced in 2007, enables corporations to control and monitor spending, including employee purchases for supplies, travel, emergencies and other events.
The San Francisco-based bank, a unit of BNP Paribas, which operates 700 branches, said it will also offer its corporate customers enhanced travel-transaction details as part of the agreement.
“As Bank of the West continues to engage larger corporate clients with complex purchasing card programs, the need to eliminate inefficiencies and provide greater control and insight into purchasing card spend became more evident,” Dominique Fracchia, Bank of the West's senior vice president of commercial card operations, said in a statement.
Royal Bank of Scotland in 2008 was the first large institution to offer MasterCard’s inControl technology to corporate customers. Citigroup last year extended inControl to its commercial customers and earlier this year Fifth Third Bancorp adopted MasterCard’s Purchase Control feature for its commercial card customers (see story).
MasterCard in early 2009 enhanced inControl’s suite of products with the acquisition of Orbiscom Ltd., a Dublin, Ireland-based software development company specializing in transaction controls (see story).
What do you think about this? Send us your feedback. Click Here.