Deutsche Bank has launched its cross-currency payments solution FX4Cash in Malaysia and Thailand, making it available for the first time to corporate clients in these two markets. FX4Cash gives clients access to a wide range of currencies through a single platform and the ability to manage cross-border, cross-currency payments via one base currency account.
The FX4Cash platform leverages the live foreign exchange (FX) trading capabilities of the bank’s global markets and interfaces directly with the payment processing systems of its global transaction bank. With the payments and the underlying FX trade being processed via the FX4Cash platform, clients can obtain real-time transaction information and reports through db direct internet, the bank’s web-based electronic banking (e-banking) platform and enjoy transparent, robust and highly efficient processing of cross-currency payments.
Mahesh Kini, Deutsche Bank’s Asia-Pacific head of cash management for corporates, said: “With the extensive range of currencies covered, and the transparency and control over FX rates, FX4Cash is a powerful tool for any organisation with international activities. FX4Cash also enables our clients to consolidate their accounts into the minimum required core operating currency accounts and run a truly multi-currency account structure. This cross-currency payments solution has been very well-received among our clients across Europe and America and most recently in China and India, and is a powerful affirmation of the platform’s capabilities. We are delighted to extend the benefits of FX4Cash to our corporate clients in Malaysia and Thailand.”
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