Deutsche Bank awarded Best Global (USD and EURO) Clearing Bank in Asia Pacific for 2019 at The Asian Banker Business Achievement Awards 2019
- Deutsche Bank is the world’s largest Euro clearer
- Selected as a top Korean bank’s main euro commercial payment service provider
- Enhancement of core product, FX4Cash with API capabilities
Bangkok, May 30th 2019- Deutsche Bank received the award for Best Global (USD and EURO) Clearing Bank in Asia Pacific for 2019 at The Asian Banker Business Achievement Awards 2019. The award ceremony was held in conjunction with the prestigious Future of Finance Summit 2019, the foremost annual meeting for decision makers in the financial services industry in the Asia Pacific region, held at the Shangri-La Hotel, Bangkok, Thailand.
Deutsche Bank is the world’s largest Euro clearer
Deutsche Bank continues to be the world’s largest Euro clearer, processing one of every six transactions cleared based on combined volume processed via Target 2 and EBA/Euro 1 and is a leading USD clearer, giving it a unique position in the Asian market. This position of strength has allowed the bank to offer most comprehensive and automated packages of clearing services as well as continued to move to a real-time environment with a focus on intraday liquidity reporting for clients, on the liquidity front. The bank extended its well-established intraday reporting services for EUR and USD commercial and treasury clearing to cover the full product suite.
Selected as a top Korean bank’s main euro commercial payment service provider
Deutsche Bank was selected as a top Korean bank's main Euro commercial payment service provider to support their corporate and retail clients' cross-border transactions. With Brexit on the horizon, the Korean client was looking for a Euro commercial payment service provider to wind down their Euro payment service offered by their London branch. A host of supportive functionalities such as the bank’s state-of-the-art payment platform, unique capability to process during the Asia time zone, trusted long-term relationship with the onshore product sales team, and quality client servicing were the key reasons the mandate was awarded to Deutsche Bank.
Enhancement of core product, FX4Cash with API capabilities
Deutsche Bank enhanced one of its core products, FX4Cash with API capabilities. The added feature offers a fully integrated, automated mechanism to access live streaming rates for over 125 payment currencies at the time of trade execution. It provides a nostro network expansion without the need for physical accounts, and allows for more conversions to be brought in house and away from beneficiary banks, including for Asia onshore currencies. With a combination of FX4Cash and API pricing execution, Deutsche Bank has been able to enable one of major Australian FI client’s end customers (retail, SME and large corporates) to access live FX rates for their local currency payments into restricted Asian markets and a settlement solution that is fast and transparent.
This award is based on a survey of domestic financial institutions on the clearing service providers they use on the national and international fronts. We also take into account white labelled products and services used by the domestic financial institutions from these providers. This award takes into account changes in market share of the different competitors in the region and the range and unique features of products and services provided. For specific details relating to description of the awards, evaluation criteria and process, kindly visit http://www.asianbankerawards.com/transactionawards/index.php
About The Asian Banker
The Asian Banker is the region’s most authoritative provider of strategic business intelligence to the financial services community. The company is headquartered in Singapore, with offices in Manila, Malaysia, Hong Kong, Beijing, and Dubai, as well as representatives in London, New York, and San Francisco. It has a business model that revolves around three core business lines: publications, research services, and forums.
For all Business Achievement Awards 2019 photos, please visit https://bit.ly/2WcifTO
For further information on the collaterals for winning banks, please contact:
Mr. Alfred Labicassi
The Asian Banker