• E-mail
• Print
• Comment
• Font Size
• Digg
• del.icio.us
• Discuss article

Carnival Corporation Sets Sail With Bank of America for Corporate Credit Card Program

Posted on: Tuesday, 2 December 2008, 10:00 CST

CHARLOTTE, N.C., Dec. 2 /PRNewswire/ -- Bank of America today announced that Carnival Corporation, one of the largest global cruise companies, has chosen Bank of America to operate its North American corporate credit card program. As a result of the agreement, Carnival Corporation -- with a portfolio of leading cruise brands in North America that includes Carnival Cruise Lines, Holland America Line, Princess Cruises and Seabourn Cruise Line -- will have a program that covers three critical spending categories: air ticket purchases, travel and entertainment expenses, and general procurement.

(Logo: http://www.newscom.com/cgi-bin/prnh/20050720/CLW086LOGO-b )

Carnival Corporation will benefit from access to Bank of America's Works(R) application, a platform that will efficiently and seamlessly interface with Carnival's individual and distinct internal systems and processes. Works is Bank of America's web-based solution that automates, streamlines and integrates corporate credit card payment authorization and reconciliation. The Works platform offers reliability and patented leading-edge technology in the corporate card market which allows clients to more efficiently and cost-effectively perform payment automation. It connects a client's payment management automation with Bank of America's global credit card network.

"Works was a major selling point for us because it allows us to consolidate a variety of information into one user-friendly platform," said Paul Zacharski, senior vice president of finance for Carnival Cruise Lines. "The single platform translates into significant cost savings and improved efficiency as we now have increased visibility into costs and control over the automated workflow needed to integrate cards into their procurement and accounts payable processes."

Bank of America Global Corporate and Investment Bank

Bank of America (NYSE: BAC) is one of the world's largest financial institutions, serving individual consumers, small and middle market businesses and large corporations with a full range of banking, investing, asset management and other financial products and services. The company's Global Corporate and Investment Banking group (GCIB) focuses on companies with annual revenues of more than $2.5 million; middle-market and large corporations; institutional investors; financial institutions; and government entities. GCIB provides innovative services in M&A, equity and debt capital raising, lending, trading, risk management, treasury management and research. Bank of America serves clients in 150 countries and has relationships with 99 percent of the U.S. Fortune 500 companies and 83 percent of the Fortune Global 500. Many of the bank's services to corporate and institutional clients are provided through its U.S. and UK subsidiaries, Banc of America Securities LLC and Banc of America Securities Limited. For additional information, visit www.bankofamerica.com

SOURCE Bank of America

Source: PR Newswire

More News in this Category