Deutsche Bank to Create Pan-European Payment System
Deutsche Bank and ACI Worldwide have announced an agreement to jointly develop a single pan-European payment platform for corporate customers. The application will support concurrent multi-currency bulk and individual payment processing. Corporate customers operating locally or centrally across Europe will have a single interface into Deutsche Bank for their payment and collection cycles. The new platform will identify and prioritise urgent payment routing from batch-based transactions. The system will have full interface flexibility with international payment standards, as well as ERP vendor formats, with high performance conversion software to support the fast adaptation and implementation of specific customer formats. The interface capability will be open ended, providing mainframe linkage as well as file or web-based accessibility. Core functionality is to match demanding cross border payment requirements, including on-line real-time transaction processing and payment status information, access to investigation and payment tracking data, customised reports for performance or audit requirements and exception processing and payment repair features for payment traffic routed through the system.