Barclaycard’s Spend Management (BSM) platform has won an industry accolade at the UK’s Banking Technology Awards.
BSM, which enables commercial customers to manage their corporate spending more efficiently, was named Best Payments System Initiative of 2011, beating competition from Bank of America Merrill Lynch and Standard Chartered in its category.
The integrated system is designed to help businesses manage everything from high-value invoices to single expense claims. Its advanced Payables function also means customers can improve the efficiency of their invoice processing and cash management, streamlining the entire payments process.
Jonathan Taylor, Head of Product Management and Strategy, accepted the award on behalf of Barclaycard’s Global Commercial Payments (GCP) team.
He said: “This award is a fantastic achievement for Barclaycard, and takes GCP another step closer to becoming the business payments leader for Europe-based multinationals.”