Conferma has signed an agreement with HSBC to enable the bank’s corporate clients to use the IT company’s virtual reconcilation and settlement technology.
Under the deal, HSBC will add Conferma’s MiBooking solution to its payment card products.
This will allow the bank to provide automated settlement for hotel and other bookings made by its TMC.
Conferma said the deal would enable HSBC to “streamline and reduce the cost of the manual bill back process.”
Niall Hossack, head of corporate payment card solutions at HSBC, said: "By partnering with Conferma, we are able to expand our corporate payment offering to our customers, helping them to achieve both greater transparency of spend and reduced processing costs through automated settlement of centralised bookings.”
Simon Barker, Conferma’s ceo, said: “As a result HSBC’s customers will benefit from an automated booking, payment and reconciliation process that reduces admin time and room for error, which ultimately saves money.”