Published: October 01, 2012
Electronic banking has a long heritage, from telex machines during the 1980s and dial-up systems of the ‘90s to the web-based systems, host-to-host connections and multi-bank connectivity of today. Deutsche Bank is now pioneering the next generation of treasury solutions through its Autobahn App Market. This article looks at how this approach is revolutionising banking technology and delivering the convenient, intuitive and powerful solutions demanded by leading corporations.
Treasurers’ working practices have evolved significantly over recent years. While in the past, they may have been predominantly office-based, today’s treasurers and finance managers are just as likely to be found visiting other departments and subsidiaries across the globe, participating in industry events or on the road helping to drive the business. The time-critical nature of treasury has frequently meant that they have had to remain close to an office or hotel room to check on global cash, liquidity and risk positions, execute or approve transactions. With handheld smart and tablet devices now ubiquitous, treasurers are demanding the same level of functionality through these devices as they would expect in the office, but combined with the convenience of a true mobile office.
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Mobile technology has gone so far in recent years by providing treasurers with limited functions such as transaction initiation and approval, and summary reporting. These mobile tools tend to provide a ‘cut down’ version of a full electronic banking system, but rarely take advantage of the graphical, navigation and usability features offered by leading tablet and handheld smart device manufacturers.
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At Deutsche Bank, we wanted to take the use of mobile technology to a new level, first by focusing on the tablet and smart devices that our clients are using today and secondly delivering an enhanced user experience to treasurers and finance managers with convenient solutions by offering feature-rich functionality through an intuitive interface, tailored to the needs of every user. The concept has been developed in close co-operation with our clients, and we have held a large number of intensive sessions to understand their needs, frustrations, challenges and ambitions. The result of this exploration process has been the development of the Autobahn App Market. Autobahn is the German word for freeway, and is associated with speed, freedom and smooth efficiency, which are amongst the characteristics of our Autobahn applications (‘apps’).
Autobahn apps are device-agnostic, enabling users to access comparable functionality and a consistent user experience whatever their choice of device. So far, there are over 150 apps live in the Autobahn App Market, which provide user tools across the business functions that comprise the Deutsche Bank family, including Global Transaction Banking. Currently, most companies have several systems from each bank to support different activities such as cash, trade, custody etc. The concept behind the Autobahn App Market is that ultimately, these apps will replace traditional electronic banking systems, bringing consistent business logic, security and user experience across all electronic interactions with the bank. Typically, each user only undertakes a limited number of functions using an electronic banking system, so the Autobahn App Market enables them to access only the functions they require, whilst benefiting from a highly integrated and cohesive experience.
Each app provides comprehensive functionality, but is also highly intuitive, including interactive, drag and drop capabilities. For example, the Liquidity Manager app provides a ‘cockpit’ for treasurers to review their global liquidity position in their preferred format, and enables them to manage their positions from a single window, including positions with multiple banks. While a number of companies have treasury management systems (TMS) or enterprise resource planning (ERP) platforms, treasury departments are at different points in the journey towards treasury and cash management automation. Furthermore, existing systems may lack functionality or ease of data management, particularly if legacy versions are still in use. Consequently, even companies which have invested significantly in their treasury technology infrastructure still rely on spreadsheets for some activities. The Liquidity Manager app is therefore designed to complement our clients’ existing treasury technology and enhance visibility and management of data.[[[PAGE]]]
At Deutsche Bank, we are working proactively to streamline the way that we deliver bespoke solutions that combine multiple products to provide a cohesive, integrated user experience for our clients, of which the Autobahn App Market is a primary example. Not only are treasurers benefiting from convenient, intuitive solutions, but by seamlessly combining products and services, we are able to deliver powerful, cohesive solutions to our clients, as the examples in the boxes illustrate. Comprehensive solutions aimed at solving complex business challenges and strategies such as multi-currency consolidated payments, cashless collections and sophisticated auto-reconciliation capabilities are making a major difference to the way that treasurers and finance managers manage their activities and help their business units innovate and compete in the market, with full visibility and control through the Autobahn App Market.
The Autobahn App Market is just one example of our commitment to leading the way towards next generation treasury. The use of electronic payments continues to increase in the United States: according to NACHA, the Electronic Payments Association, payments across the ACH network grew by 4.4% during the first quarter of 2012 compared with the same period a year ago. Today’s electronic payments and cash management opportunities are substantially different to those that existed five years ago. Deutsche Bank is pioneering the industry by leveraging new technology to create functional, powerful solutions that specifically meet the needs of each client, delivered in a convenient and intuitive way.
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