Deutsche Bank is adding five new markets – the Czech Republic, Poland, Switzerland, Turkey and United Arab Emirates (UAE) – to FX4Cash, its global cross-currency payments platform. FX4Cash combines the bank’s global foreign exchange (FX) expertise with its leading cash management offering to provide global cross-currency payments solutions for corporates and financial institutions.
FX4Cash gives clients a range of end-to-end payment solutions for their cross-currency needs. In the new markets, clients will be able to seamlessly access the FX4Cash platform and reach their counterparties all over the world. The capabilities of FX4Cash have been available through its existing centres in Belgium, China, England, France, Germany, Italy, Japan, Netherlands, Singapore, Spain and the United States. Customers in these countries can access a single window into more than 120 different currencies. New receivables capabilities allow clients to consolidate their receipts into 39 currencies for conversion into their home currency.
Timothy Merrell, co-head of FX4Cash, global transaction banking, Deutsche Bank, said: “Deutsche Bank continues with the rollout of its FX4Cash platform, further broadening its capabilities to include five new key markets. From the beginning of 2011, clients in the newly-added markets will be able to take advantage of our automated and highly versatile FX payments platform. Flexibility is one of the hallmarks of the FX4Cash platform and we will continue to expand this service in response to the needs of our client base.”
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