TORONTO, Nov. 7 /PRNewswire-FirstCall/ - BMO Harris ePurchasing Solutions, a leading North American provider of advanced commercial card solutions, today announced global alliances with five new banks, allowing its customers to conduct business in additional countries and continents. The deals expand the BMO Harris global footprint to five continents. BMO Harris ePurchasing Solutions recently reached agreements with the following banks:
- China Merchants Bank, China - Commonwealth Bank, Australia - Credit Saison, Japan - United Overseas Bank, Malaysia - Credit Mutuel, France
BMO Harris is continually growing its global capabilities by developing alliances with leading institutions around the world. This association allows BMO Harris to provide an unparalleled worldwide network with local support banks, making it possible to globally service corporate card accounts virtually anywhere.
This allows BMO Harris customers - who are among the leaders in today''s global economy - to conduct business more efficiently and effectively worldwide. Through BMO Harris details Online, their proprietary global database for reporting, analysis, and management, clients have the ability to review spend by both individual country and a worldwide rollup in a single currency. The suite of global reports provide customers greater expense oversight, streamlined activities, and better cash flow for their business transactions at home, and increasingly, abroad.
"Our MasterCard commercial card programs provide our customers wider acceptance not only in North America but around the globe," said Terry Wellesley, Managing Director of BMO Harris ePurchasing Solutions. "We have partnered with the leading banks, in the nations where our customers are doing business, so we can continue to offer the strongest and most robust commercial card program available in the industry. The BMO Harris name continues to grow as we expand our global network."
The banks join the Royal Bank of Scotland (United Kingdom), Nordea (Denmark, Finland, Norway and Sweden) and Banco Santander (Chile) in BMO Harris'' global commercial card network.
About BMO Harris ePurchasing Solutions
BMO Harris ePurchasing Solutions is a leading North American provider of advanced commercial card solutions that integrate customized end-to-end electronic procurement and travel and expense management to public and private sector organizations. BMO Harris'' client-centric approach utilizes leading technology to customize solutions that directly contribute to an organization''s financial performance. One of the top 10 commercial card issuers in North America, BMO Harris e-purchasing provides more than 87,000 companies a single-source option for their commercial card programs.
About China Merchants Bank
China Merchants Bank is the first share-holding commercial bank wholly owned by corporate legal entities and the first domestically listed company that passed an external auditing appraisal, based on the international accounting standard. At present, the total assets of China Merchants Bank are above 1000 billion RMB, and it is ranked in the top 101 among "the world 1000 banks" by The Banker. CMB has a leading and fast growing credit card business with more than 30 percent of market share and more than 15 million dual-currency cards issued in China.
About the Commonwealth Bank
With a market capitalization in excess of $AUD 70 billion, the Commonwealth Bank (Group) is Australia''s largest financial institution and offers a full range of financial services including retail, business and institutional banking, funds management, superannuation, general and life insurance, brokerage services and finance company activities.
About Credit Saison
Credit Saison Co., Ltd. offers sales credit, loans, merchandise sales, and travel and entertainment in Japan. It has 9 consolidated subsidiaries and ranks among Japan''s top credit card companies, with cards issued totaling 24,910,000 as of March 31, 2007. Credit Saison is affiliated with Mizuho Financial Group.
About United Overseas Bank (Malaysia)
United Overseas Bank (Malaysia) Bhd ("UOB (Malaysia)") is a subsidiary of United Overseas Bank Limited ("UOB"), a leading bank in Singapore with a global network of more than 500 branches/offices and subsidiaries/associates in 18 countries and territories in Asia-Pacific, Western Europe and North America. UOB (Malaysia) offers an extensive range of commercial and personal financial services through its branches as well as through its subsidiaries and associate companies.
About Credit Mutuel - CIC Group
France''s second-largest retail bank, the Credit Mutuel group is made up of the Credit Mutuel network and its subsidiaries, among them CIC. Credit Mutuel combines its extensive presence, with those of CIC, a commercial bank with 40 offices outside of France. Issuing commercial cards for 20 years, Credit Mutuel - CIC is the market leader in French MasterCard corporate programs. The first European bank to be CDF certified, Credit Mutuel - CIC has created a dedicated Corporate Cards Centre of Excellence supporting corporate and public sector customers and developed its own web-based program management tool.
Source: BMO Financial Group