Banks sign up to use Deutsche's FX4Cash
Canara Bank and KBC Bank have signed up to use Deutsche Bank’s FX4Cash, a global cross-currency payments solution.
India’s Canara Bank specialises in retail and corporate banking, while KBC Bank is a well-known euro clearer that is a part of the KBC Group, which concentrates on its home market in Belgium.
Marc Bruffaerts, head sales and network management at KBC Bank, said that FX4Cash offers a simple and efficient way to optimise cross-currency payments and provide customised solutions to clients.
VS Krishnakumar, executive director at Canara Bank, called FX4Cash a “powerful tool [that] enables fast and easy global payments”.
The banks signed memorandums of understanding with Deutsche Bank at Sibos 2014 in Boston.