China-based Ping An Bank (PAB) and Deutsche Bank have signed a Memorandum of Understanding (MoU), which expands their cash management relationship by allowing PAB to utilize Deutsche Bank’s US Dollar (USD) Clearing for Commercial and Treasury Payments Solution via Deutsche Bank’s Autobahn App Market.
The clearing solution is designed to help improve efficiency of intraday cash flows by providing services to control payment prioritization and manage complex payment arrangements.
“We are delighted to expand our long-standing relationship with Deutsche Bank especially in USD payment clearing for both commercial and treasury payments. We truly believe this will enable us to achieve higher efficiency when providing USD payment services to our corporate and retail clients,” says Hu Yuefei, executive vice president at PAB.
Chinese Bank Expands Clearing Relationship with Deutsche Bank
China-based Ping An Bank (PAB) and Deutsche Bank have signed a Memorandum of Understanding (MoU), which expands their cash management relationship by allowing PAB to utilize Deutsche Bank’s US Dollar (USD) Clearing for Commercial and Treasury Payments Solution via Deutsche Bank's Autobahn App Market.