Citi, the US bank, is set to launch its ‘Meeting Card’ solution designed to increase companies’ meeting and event spend transparency.
The solution includes global declining balance and virtual account options which Citi claims are industry firsts.
According to Citi, the declining balance option reduces the available credit with every transaction that posts to the account, and the ‘Virtual Card Account’ gives clients the ability to establish pre-approval parameters for every purchase.
“Clients now have a single solution to capture and monitor their meeting and event expenses,” said Hubert JP Jolly, global head of commercial cards at Citi.
“With the addition of the declining balance and virtual card options, they can even more tightly control their budgets and ensure compliance with internal policies.”
Citi claims that its ‘Meeting Card’ solution provides enhanced security and control over expenses which allows organisations to track and analyse transaction data by department, cost centre, spend category and supplier.
The Citi ‘Meeting Card’ solution can be integrated with meetings management software to plan, source, pay for, reconcile and ultimately streamline meeting management requirements.