China Merchants signs up with Deutsche Bank 01 October 2014Boston Reporter: Tammy Facey
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China Merchants Bank and Deutsche Bank has signed a memorandum of understanding to expand their cash management relationship by leveraging Deutsche Bank’s Asia accelerator solution to process euro intra-Asia payments.
China Merchants Bank will be able to expedite its retail and corporate clients’ US dollar and euro intra-Asia payments.
The bank will ensure real-time regional settlement via Deutsche Bank’s automated payment platform, streamline its operational processes and consolidate and optimise its liquidity.
Xia Jinqing, head of financial institutions department at China Merchants Bank, said: “With this solution, our clients will see the direct benefits with faster and more efficient intra-Asia payments.”
Nancy So, Asia Pacific head of global transaction banking at Deutsche Bank, said: “We are pleased to partner with China Merchants Bank to expand our clearing relationship through this liquidity enhancement solution specifically designed for intra-Asia payments.”
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