Barclaycard launches digital business payments platform
Barclaycard Payments has launched phase one of Barclaycard Precisionpay Go, an online platform designed to allow companies to issue virtual cards, powered by Visa, to employees for business payments online. The functionality also aims to support workforces to continue operating smoothly during an era of remote working.
Available to both new and existing Precisionpay customers, the platform will allow companies to issue virtual corporate cards and manage corporate spending through a mobile app, instead of online or via the traditional means of bank transfer. Employees can create their own cards or request cards to be issued to them via their mobile phone, enabling staff to make business payments instantly, without needing to go into the office or even be at their desk.
With Barclaycard research showing that 63% of employees are responsible for filing their own expenses, Barclaycard Precisionpay Go will help save employees time. The platform replaces systems that rely on manual processes, with a streamlined alternative that gives both employees and employers increased flexibility. The cards will be powered by Visa and, crucially, can be issued for just the amount required, and for a specified period of time, while spend controls can be added to manage user activity on a daily basis.
Barclaycard adds that the solution will allow businesses to:
- Resume control while working remotely: Instead of issuing a physical corporate card to everyone in the company, the platform allows employers to deploy a different virtual card for each payment made, or a group of payments for a specific trip - ideal for those working from home.
- Increase visibility of business payments: Traditionally, businesses don’t have view of company spending until after the expenses have been submitted. By implementing Barclaycard Precisionpay Go, businesses will have visibility of spending as soon as a payment is made.
- Save time and increase efficiency: On average, it takes eight days to deliver a physical card to an employee, and even longer with staff working from home. This solution allows a virtual card can be issued within just two seconds from being requested.
- Capture valuable data: Businesses can add custom data fields to be populated by the employee each time a card is requested. Users can also upload receipts via the mobile app, which can be viewed alongside transactional information in the accompanying reporting platform SNAP.
- Reduce environmental impact: By implementing virtual cards and digital processes, companies are able to reduce plastic and paper usage by removing unnecessary plastic and making their transactions virtual.
Intesa Sanpaolo, TIM and Google Cloud sign final agreements on digitisation project
Building upon a Memorandum of Understanding signed on 21 May 2020, Intesa Sanpaolo, TIM and Google Cloud have signed the final agreements on the basis of which the bank will migrate a large part of its information system to Google Cloud, which will meet the highest international security and data protection standards and will rely on TIM’s Italian Data Centers in Milan and Turin.
The project, which has been submitted for review by authorities as required by legislation, involves the opening of a technology infrastructure in Turin to provide Google Cloud services. It also involves the opening of a centre dedicated to artificial intelligence, training and professional support for startups through initiatives to be defined jointly by Intesa Sanpaolo, Google and TIM.
The presence of two cloud regions in Milan and Turin will provide Intesa the necessary redundancy and operational continuity of cloud services. Both cloud regions will be built according to the latest environmental sustainability best practices, including carbon neutrality, in compliance with Intesa Sanpaolo Group sustainability guidelines, shared by TIM.
Google Cloud services in the cloud regions will allow Italian businesses of all sizes and individuals to take advantage of the technological and economic benefits of cloud computing in a secure and sustainable way.
BNY Mellon recognised for sustainability
The Bank of New York Mellon Corporation (BNY Mellon) has announced that it has been named to the CDP Climate Change ‘A List’ and the Dow Jones Sustainability Index (DJSI).
BNY Mellon secured a place on CDP’s Climate Change ‘A List’ for its actions to reduce emissions, mitigate climate risks, and develop new and thoughtful initiatives. BNY Mellon is one of five US-based financial services companies that earned the ‘A’ grade from CDP and is the only US-based financial institution to earn this ranking from CDP for eight consecutive years.
CDP’s annual disclosure and scoring process is widely recognised as the standard in corporate environmental transparency. This year, over 9,500 companies responded to the Climate Change questionnaire, and approximately 3% have achieved the ‘A List’.
The bank was also named by S&P Global as an index component of the 2020 Dow Jones Sustainability Indices (DJSI) for the seventh consecutive year. The company is included in the Dow Jones Sustainability North America Index, which it says reinforces the priority it places on environmental, social and governance (ESG) criteria. The index family tracks the stock performance of the world's leading companies in terms of economic, environmental and social criteria.
The DJSI stems from the Corporate Sustainability Assessment (CSA) developed by SAM, now issued by S&P Global. This year saw the strongest level of corporate participation in the CSA - up 18.9% from 2019, with 238 companies participating for the first time.
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