Deutsche Bank has added 50 currencies to the current 75 payment currencies on FX4Cash, Deutsche Bank’s global payments platform. FX4Cash combines the bank’s number one market share in global foreign exchange (Euromoney Global FX survey 2009) with its leading ranking in global cash management to provide global cross-currency payment solutions for corporates and financial institutions.
Jointly offered by Deutsche Bank Global Markets and Transaction Banking, FX4Cash presents clients with a high-value service to obtain real-time and competitive FX pricing across more than 2,000 currency pairs. With the enhancement, clients can look forward to using one base currency account to make payments in 125 currencies across more than 160 countries while streamlining their cross-border payments in a straight-through process.
“In an increasingly global and regulated economy, clients seek greater choice in managing their crosscurrency payments,” says Kefei Chang, director, global transaction banking – cash management. “The FX4Cash enhancements provide clients with more flexibility and choice in their FX dealings and payments, a highly valued service in today’s challenging market, where clients demand for more efficient tools to manage working capital and short-term liquidity.
“Since its launch in the third quarter of 2008, more than 100 clients have signed up for this solution. We are linking more Deutsche Bank branches to the FX4Cash platform as we expect demand to increase, particularly by clients who intend to use this cost-effective channel for cross payment transactions going forward. “
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