Deutsche Bank said that it has jointly developed and implemented a cash management solution with General Electric’s (GE) treasury team in Japan, by customising NTT Data’s eBAgent in order to streamline GE’s Japanese yen (JPY) payment and reporting processes.
The bank commented that in today’s environment, corporates often choose to engage multiple banks for collection, payments, foreign exchange (FX), investments and credit requirements. However, managing multi-bank relationships can also create challenges, such as having to use multiple proprietary banking platforms with different interfaces and formats.
The new service aims to address these issues by offering a single conduit to process multiple bank payments over NTT Data’s ANSER-WEB internet banking service and harmonise the reporting into a unified format. In addition, Deutsche Bank’s solution enables corporates to consolidate their banking interfaces, saving on transaction and maintenance costs, and freeing up resources.
“We are delighted that we were able to jointly develop this innovative cash management solution with GE in Japan,” said Mahesh Kini, Asia Pacific head of cash management for corporates, global transaction banking at Deutsche Bank.
“As the first of its kind to go live in the market, the solution will help create new efficiencies and save costs for corporate treasurers, while at the same time addressing the day-to-day challenges of managing multi-bank cash management relationships. We’ve already seen tremendous interest for this solution.”
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