Deutsche Bank sees fruits of payment innovation 30 September 2014Boston Reporter: Stephen Durham
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Following the launch of its Guaranteed US Plus product in 2013, Deutsche Bank has experienced robust adoption from financial institutions (FIs) based outside the US.
Guaranteed US Plus enables FIs to direct individual payments originating outside the US to the local mass payments network, which ensures next day value with control over deductions. As a result, they can achieve end-to-end pricing transparency and improved fee and deduction management.
The bank has also seen record adoption of its newly-improved Cash Inquiry App, its most widely-used application on the bank’s Autobahn App Market.
The app, currently used by more than 1500 clients, facilitates faster and more cost-effective research, providing real-time insights on USD, GBP, EUR or multi-currency high value, FX4Cash and SEPA payments and receipts.
Product design and development were carried out in close collaboration with clients using actual user input to identify daily workflows. As a result, the navigation dashboard, screens and search functions have been designed to reflect exact client requirements.
Early in 2015, Deutsche Bank’s institutional cash clients will be able to benefit from the bank‘s new Optimized Payment Liquidity Solution that will improve the efficiency of intraday liquidity by processing more payments using the same amount of available liquidity.
An algorithm will be used to sequence payments to optimise clients' overall cash flow and use of liquidity.
This is increasingly critical as regulatory forces, market infrastructures and tighter financial discipline are driving FIs globally to manage liquidity they hold with their correspondent banks more effectively.
“Deutsche Bank continues to lead innovation in the industry through its collaborative and client-centric approach,” said Isabel Schmidt, head of FI clearing products and global transaction banking at Deutsche Bank.
“We are continuously expanding our transaction banking solutions to help our institutional clients navigate the ever more complex world of international cash management and to support them in delivering the best possible service to their own clients.”
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