Deutsche Bank launch FX4Cash
by Richard Kilner
Story link: Deutsche Bank launch FX4Cash
Germany’s largest bank, Deutsche Bank, has today announced it is launching a new FX payments product, FX4Cash.
The product seeks to combine the bank’s leading market share on foreign exchange with its strong position on cash management in a bid to create a worldwide cross-currency payment solution catering to corporates and financial institutions.
FX4Cash will enable clients to change 18 funding currencies into more than 75 local currencies, and can be accessed via host-to-host, the internet or SWIFT.
Streaming, fixed and benchmark rates are afforded by comprehensive FX capabilities.
FX4Cash is a joint offering put forward by Deutsche Bank’s Global Marketing and Transaction Banking divisions.
FX4Cash’s Global Transaction Banking chief, Tim Merrell, explains that through rationalising accounts, clients will be able to reduce costs by using the new product.
Merrell added that it will enable clients to transform a pre-existing manual process for cross currency payments into an end to end STP solution.
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