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.

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By GlobalData

The Citi ‘Meeting Card’ solution can be
integrated with meetings management software to plan, source, pay
for, reconcile and ultimately streamline meeting management
requirements.