Deutsche Bank has launched a single global operating model for multi-currency clearing in higher value payments. Money Transfer New Architecture (MTNA) will replace all legacy money transfer applications for US Dollar, Euro and Sterling. MTNA will be completed by the middle of next year. Norbert Wanninger, Head of Global Cash Management at Deutsche Bank, said, “We are committed to remaining a long-term leader in providing comprehensive solutions for clients worldwide. Therefore, the introduction of MTNA is a natural step in the evolution of our products’ scope as it will offer another conduit for us to provide a single payments distribution footprint that is truly global.” Deutsche Bank has also expanded its worldwide cheque processing with DB-Cheque, a multi-currency, multi-local format draft issuance service out of Europe, adding to existing offerings in the US and Asia. At the same time the bank’s European Priority Remittance Service, a cheque clearing service, has been broadened to include 10 newly admitted EU member countries. In addition the bank will offer a range of cheque and item processing options to prepare clients for the impending Check Clearing for the 21st Century Act (Check 21) to become effective on October 28, 2004. Andrew England, Global Head of Product Management, Global Cash Management, Deutsche Bank, said, “We understand that cheques are still a significant form of payment worldwide and that clients globally are seeking innovative solutions to reduce cost and remain competitive.”
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