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HNB Introduces State of the Art Corporate Travel and Entertainment Payment Solution

Hatton National Bank (HNB) offers the corporate sector a payment card solution which streamlines travel and entertainment expenditure by shifting it to an electronic platform.

This solution provides companies centralized financial convenience by allowing them to manage the travel and entertainment expenditure incurred by employees on their behalf through a wholly electronic process.

The company can provide the payment card to individual employees with a preferred credit limit to cover their expenses and reimburse them as and when the need arises.

Mr.Roshantha Jayatunge, Senior Manager - Card Centre, commenting on the card solution stated:

"HNB is the preferred banking services provider for the corporate sector and we constantly endeavor to provide convenience to our corporate customers. Traditionally companies have been forced to use hard cash to reimburse their employees for travel and entertainment expenses, which is both cumbersome and time consuming. This solution will ensure that making payments is simple and efficient, which will ultimately help the smooth functioning of that company."

HNB has partnered with MasterCard for this solution as it is the ideal platform to take this to customers. MasterCard is a leader in global payments and a technology company that connects billions of consumers and thousand of financial institutions. Commenting on this collaboration with MasterCard, he further said:

"We are excited about the next step in Payment solutions happening in Sri Lanka. There is a growing need for Corporates to streamline the process of employee expense accounts and MasterCard is geared to provide the right platform and facilitate the solution."

As the second phase of this solution HNB will soon unveil a smart data system, which will enable companies to keep a track of their expenditure on a daily basis. This will provide transparency for companies to help them make informed financial decisions with a strategic long term outlook.

Hatton National Bank is a premier private sector commercial bank with the largest branch network among private sector commercial banks, spread across the length and breadth of Sri Lanka and caters to all segments of the market through its diverse product and service offering. The Bank is also involved in insurance and capital market operations in the Country through its Group companies. During 2014, the Group assets surpassed Rs 600Bn, while the Group recorded a post-tax profit of over Rs 10Bn for the year. Hatton National Bank has been awarded by the Asian Banker Magazine as the 'Best Retail Bank in Sri Lanka' for 7 years for its performance from 2007 to 2012 and in 2014 and named as the 'Bank of the Year in Sri Lanka' for the year 2012 & 2013 by the Banker Magazine of UK. In 2012 HNB became the first Sri Lankan bank to obtain an international credit rating and was assigned a foreign currency issuer rating of B1 on par with the sovereign rating by Moody’s Investors Service, while it has a national long term rating of AA- (lka) by Fitch Ratings (Lanka) Ltd.

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