Treasury Management Internation Logo

Siemens selects Deutsche Bank for Receivables On Behalf Of in China


Deutsche Bank today announced that it has implemented a Receivables on Behalf Of (‘ROBO’) solution for Siemens Financial Services (‘SFS’) in China, for both intra-group and third party cross-border receivables.

Deutsche Bank is a key banking partner of Siemens Financial Services for the centralisation of Siemens China’s payments and collections. The first phase of implementation took place in 2014 with Payments On Behalf Of (‘POBO’) services under the SAFE Foreign Currency Centralised Management Scheme, enabling Siemens to facilitate POBO transactions for close to 50 entities across China.

The arrangement has now been extended to include ROBO, leveraging the full potential of the SAFE Foreign Currency Centralised Management Scheme. The customised ROBO solution implemented for SFS also includes electronic submission capabilities for supporting documents and regulatory reporting, thereby helping the company to achieve significant cost savings not only from the centralisation itself, but also from the reduction of manual processes and paperwork.

Carl Wegner, Managing Director, Greater China Head of Global Transaction Banking at Deutsche Bank, said: “Siemens is one of the very first multinational companies to fully leverage SAFE’s Foreign Currency Centralised Management Scheme with this comprehensive POBO/ROBO solution. This clearly sets a benchmark for treasury operations in China, exemplifying how multinational companies can significantly benefit from new schemes and pilots in this fast-changing market.”

Eddy Henning, Managing Director, Head of MNC Coverage APAC at Deutsche Bank, added: “We are pleased to have been able to work together with Siemens to develop and implement this highly customised POBO/ROBO solution, which should result in significant cost savings and additional operational efficiencies for the company.“

Most recent episodes

The Future of ESG in Treasury

In this podcast, Melissa Moi, Peter Jameson and Venkat ES from Bank of America join TMI’s Eleanor Hill to determine where the ESG journey is heading next. Our expert panel consider how changing regulation, technology solutions and metrics including ESG KPIs...


HSBC’s Sibos Spotlight: Investing in the Future – from Diversity to Green Deposits

In the final instalment of HSBC’s Sibos Spotlight, Eleanor Hill (TMI) invites Nadine Lagarmitte and Suraj Kalati (HSBC) to consider how corporates’ attitudes to...


HSBC’s Sibos Spotlight: The ESG Landscape – what every treasurer needs to know

In the third edition of HSBC’s Sibos Spotlight Podcast series, TMI’s Eleanor Hill invites Farnam Bidgoli (HSBC) to provide an in-depth overview of the current ESG...


The Path to Transformational Global Cash Visibility

Davina Bradley (CEVA Logistics) and Conor Deegan (CashAnalytics) join TMI’s Eleanor Hill to explore how treasurers can transform their cash visibility and forecasting within their business in a matter of weeks using a...


HSBC’s Sibos Spotlight: Embedding ESG in Trade and Supply Chains

In the second podcast from HSBC’s Sibos Spotlight series, TMI’s Eleanor Hill speaks to Surath Sengupta (HSBC) about embedding ESG into trade and supply chains....


Lost in Transaction: Overcoming Payments Pitfalls

From simple errors to duplicates, fraud and sanctions violations, there are a number of areas where payments can go wrong – especially in the real-time environment. In this podcast, TMI speaks to Andrew Ferrao...


HSBC's Sibos Spotlight: Central Bank Digital Currencies

The first edition of HSBC’s Sibos Spotlight series sees TMI’s Eleanor Hill joined by Mark Williamson and James Pomeroy (HSBC) to discuss the hot topic of Central Bank Digital Currencies (CBDCs). Our guests discuss...


Payments Vision 2025: The Inside Track

Wim Grosemans, Steven Lenaerts (BNP Paribas) and Wim Raymaekers (SWIFT) join TMI’s Eleanor Hill to outline their vision for the payments landscape in 2025. Our guests consider how recent developments such as instant...


Stepping Out from the Shadows

“Treasurers needs to step out of the shadows and into the sunshine in terms of their strategic contribution.” claims Zitah McMillan, Co-Founder and CEO, Predictive Black. In this podcast, hosted by TMI’s Eleanor Hill, our guest declares that the...


Why the ‘One Size Fits All’ Approach is Outdated - A Cash Segmentation Treasury Masterclass

With the ongoing low interest-rate environment and increasing regulatory change, it’s more important than ever for treasurers...