Mar 07, 2013
Hong Kong, March 4th 2013 - Deutsche Bank today announced that it has jointly developed and implemented a unique cash management solution with General Electric’s Treasury team in Japan, by customising NTT Data’s eBAgent® in order to streamline General Electric’s Japanese Yen payment and reporting processes.
In today’s environment, corporates often choose to engage multiple banks for collection, payments, foreign exchange, investments and credit requirements. However, managing multi-bank relationships can also create challenges, such as having to use multiple proprietary banking platforms with different interfaces and formats.
Deutsche Bank’s solution helps address these issues by offering a single conduit to process multiple bank payments over NTT Data’s ANSER® and harmonise the reporting into a unified format. In addition, Deutsche Bank’s solution enables corporates to consolidate their banking interfaces, saving on transaction and maintenance costs, and freeing up resources.
Commenting on the solution, Mahesh Kini, Asia Pacific Head of Cash Management for Corporates, Global Transaction Banking at Deutsche Bank said: “We are delighted that we were able to jointly develop this innovative cash management solution with GE in Japan. As the first of its kind to go live in the market, the solution will help create new efficiencies and save costs for corporate treasurers, while at the same time addressing the day-to-day challenges of managing multi-bank cash management relationships. We’ve already seen tremendous interest for this solution.”
Yasukazu Aiuchi, Japan Head of Global Transaction Banking at Deutsche Bank added: “This mandate not only demonstrates the strength of our transaction banking franchise in Japan, but also the depth of the relationships we have with our clients. We look forward to helping more corporates in Japan benefit from our innovative solution.”
The solution has been recently recognised by The Asset as Best Cash Management Solution − Japan, as part of the magazine’s Triple A Treasury, Trade & Risk Management Awards 2013.
Re-disseminated by The Asian Banker