Published: January 01, 2020
Deutsche Bank has consistently differentiated itself from other transaction banks by driving industry initiatives and new client solutions. In 2019, the bank helped corporate treasurers to embrace real-time treasury operations and worked with industry bodies towards harmonising cross-border payments. These achievements, among others, make Deutsche Bank the hands-down winner of TMI’s 2019 Award for Best Bank for Cash & Liquidity Management in Europe.
At the Sibos 2019 conference, Christian Sewing, CEO of Deutsche Bank, said that he was “very optimistic for the transaction banking business”, a cornerstone of the new Corporate Bank division. In the face of headwinds, the Corporate Bank has consistently delivered strong results – and its success continued in 2019. Deutsche Bank remains the only provider in the market that is a substantial clearer of both euros and US dollars, which, combined, account for more than 75% of global payments. In addition, according to SWIFT Watch, Deutsche Bank continues to be the world’s largest euro clearer, with an 8.5% monthly market share of SWIFT euro volumes.
Other impressive achievements include the fact that Deutsche Bank is the largest sender of payments on Target2 connected via the Deutsche Bundesbank. The bank also provides corporate cash management services to 100% of the DAX 30 and more than 90% of the Euro Stoxx 50 constituent companies.
There are many reasons why such large numbers of corporates continue to choose Deutsche Bank for their cash management needs. One driver is the bank’s investment in its digital capabilities over recent years – facilitating the transition for its clients to run real-time treasury operations. This includes a number of proprietary tools, such as DB Maestro and FX4Cash, which facilitate smooth and transparent FX hedging and conversion respectively, as well as sophisticated account management solutions such as virtual accounts.
In 2019, the bank invested further in virtual accounts by partnering with fintech Tieto. The collaboration will see functionality expanded beyond account rationalisation to support highly complex operations such as managing multi-currency liquidity, intercompany funding and interest and margin allocations in new workflows.
Other examples of the bank’s recent technological innovation for the benefit of corporate treasurers include:
Elsewhere, Deutsche Bank continues to lead industry dialogue through its flow magazine, flagship events, and surveys and white papers on key cash and liquidity management issues. This in-depth content enables the bank to help clients stay one step ahead of evolving market trends.
As Ole Matthiessen, Global Head of Cash Management, Deutsche Bank Corporate Bank, notes: “From the challenging negative interest rate environment through to the opportunities of Open Banking and instant payments, treasury solutioning in Europe has never been as dynamic as it is today. Against this backdrop, we are delighted and honoured that we have once again been recognised as the leading institution in this region for Cash and Liquidity Management. As we begin 2020, marking Deutsche Bank’s 150th anniversary, and the new decade we look forward to continuing to play a pivotal role in the treasury of tomorrow and being the trusted adviser for the evolving needs of our clients.
“We are also delighted that our client, Merck, has been awarded TMI’s Best Cash & Liquidity Project accolade. Merck was dealing with a significant amount of trapped cash in South Korea, where strict cross-border intercompany lending requirements and related-FX regulations make cross-border cash pooling structures particularly challenging. To address this, Deutsche Bank, as Merck’s global USD cash pool bank, was selected to provide a sophisticated ‘Cover and Reversal’ model, which fully automates cross-border USD cash pooling between Korea and Germany. We are extremely proud of this first-to-market solution and delighted with the results it has yielded for Merck,” Matthiessen concludes.
Banks and Vendors Take Treasury to New Heights Bank Awards Where better to start this celebration of innovation and excellence than with the Global Bank of the Year for Cash And Liquidity Management – HSBC. Throughout 2020, the bank added to its digital capabilities, with a new cash flow forecasting tool and an enhanced mobile […]
How Treasurers are Making the Most of Instant Payments Instant payments is a topic that receives plenty of coverage, often under the assumption that everyone wants and needs it. Is this really the case for treasurers, and if so how and where does it fit? TMI spoke to Louis-David Rouyer, Deputy Head of Payments and […]
TMI Corporate Recognition Award Winners 2020 In one of the toughest years for treasury in the past decade, treasury teams stepped up their innovation projects and rolled out digital best practices at speed. Here, we celebrate their successes. What a year 2020 was. As much as the financial crisis of 2007/8 had provided some insight […]
Real-time technologies are not intended as stand-alone tools, they require an ecosystem of complementary processes and systems to really reap their benefits. TMI seeks best practice guidance from Bank of America experts, Aziz Parvez, Head of Corporate Treasury Sales, Asia Pacific, Global Transaction Services, Sunil Bhatia, Head of Payments and Bank Transformation, Asia Pacific, Global […]
