Deutsche Bank has launched FX4Cash, a new FX payments product aimed to meet with clients’ FX and cash management needs.
The solution enables clients to make cross-currency payments from 18 funding currencies to more than 75 local currencies, via Swift, internet and host-to-host.
Comprehensive FX capabilities permit real-time streaming, fixed and benchmark rates.The product is offered jointly by Deutsche Bank’s global markets and transaction banking divisions.
“FX4Cash helps our corporate and financial institution clients to reduce costs by supporting the rationalisation of their account relationships. This platform also helps clients to convert an existing manual process into an end-to-end STP solution for cross currency payments,” comments Tim Merrell, global transaction banking head of FX4Cash.
Rita Saverino, global markets head of FX4Cash adds: “In an increasingly global and regulated economy, clients seek greater choice in managing their cross-currency payments. FX4Cash is Deutsche Bank’s strategic platform for FX payments. In addition to cost advantages, there are revenue opportunities for our clients as well. FX4Cash enables our clients to deliver new FX payment services to their clients’ across their local markets.”