Banking & financial services: the trends, the issues, the solutions

Latin Trade,  Sept, 2005  

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From better reporting capabilities to the ability to set limits on purchases, corporate cards can make a major contribution to a company's profitability in many other areas besides T&E. In addition, corporate cards can reduce the internal time and expenses involved with processing individual reimbursement requests, receipts and invoices.

"We expect to see more and more Latin corporations acting to expand on the corporate card concept by purchasing not just airline tickets and hotel accommodations, but also office furniture, computers and phones," Martin says. "Banks can help businesses understand that a corporate card is a tool that can drive tremendous value for the organization through increased usage."

Both the corporate card and the traditional individual credit card also offer the advantages of a highly secure payment system, as well. And the reporting capabilities available with both types of cards provide valuable decision-making information to businesses and consumers.

One recent trend in the corporate card market is for companies to build employee-oriented programs that support their business partners or provide different types of rewards. "We have all seen how effective loyalty programs are with the consumer market," says Martin. "Now, businesses can develop programs with benefits like a pricing discount on certain purchases from selected vendors."

Another trend is the growing use of paperless reporting solutions. "Already our customers in Mexico and Brazil have the choice of completely electronic solutions," Martin says. "That's a response to a clear demand from many of our customers."

For mid-size and small businesses, American Express is also developing informational tools, such as comparing actual purchases with industry benchmarks. This can help show a company how well it is positioned with its peers or demonstrate the value of its pro-approved spending program.

American Express' Corporate Card program simplifies expense management by providing the controls and tools growing companies need to manage spending and drive savings to the bottom-line. For more information, visit www.americanexpress.com.

TRADE FINANCE OPPORTUNITIES ON THE RISE WITHIN REGION

Latin America's economies are expected to strengthen in 2006, creating new opportunities for international trade, according to David Konfino, president, International Division, Regions Bank.

"We see continued improvement throughout the region, opening the door for U.S. companies to export a growing volume of goods to Latin America, and for banks in the region to finance that trade," Konfino says. "We also expect the United States, especially South Florida, to continue to be a haven for Latin American capital, driving demand for private banking and wealth management services."

Konfino notes that close to 40 percent of all U.S. exports and imports are generated in the 15-state region covered by Regions Bank, one of the nation's leading financial institutions with an International Division located in Coral Gables.