Deutsche Bank has broadened of offering for remittances in response to growing demand from its global clients for remittance solutions to and from emerging economies.
Deutsche Bank’s Global Transaction Banking division is launching four new corridors for its remittance service portfolio: Korea, Philippines, Poland and Turkey, all of which are fast expanding markets. These new countries complement the Bank’s existing corridors, which include Brazil, China, India, Russia and Vietnam.
Paul Camp, global head of cash management financial institutions at Deutsche Bank, said: “Expansion of our capabilities to include these four key countries is part of the ongoing development of our remittance offering. The demand for remittance disbursement is rapidly growing. Remittance capabilities are becoming an anchor product for our financial institution clients when they position products to their own retail banking customers. Our objective is to enable our clients to capture market share and further cement their own client relationships.”
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