Deutsche Bank To Expand Cash Management Product Offerings In North America
Deutsche Bank’s Global Cash Management (GCM) unit has announced that EDS, a leading global information technology services company, will provide services for the Bank’s North American processing operations to support the expansion of the its domestic cash management capabilities. As part of the agreement, Deutsche Bank will broaden its service offerings by expanding its payment processing centers to cover its private label business through which it sells check processing services to other banks. In addition, the Bank will offer a national lockbox platform by leveraging EDS’ network of processing centers in the United States, strengthening its check remittance collections and document management solution. Deutsche Bank’s GCM will retain full management of client relationships and will continue to perform value-added services such as the handling of return items, signature verification, image archive, research and adjustments, as well as the customer service functions.