Danske Bank and Deutsche Bank to Co-operate on Cash Management
Danske Bank and Deutsche Bank have announced a collaboration enabling Danske Bank to provide its corporate customers with improved pan-European cash management services by leveraging Deutsche Bank’s franchise. According to the banks, this initiative will further strengthen Danske Bank’s position in the Northern European cash management market by offering an integrated cash management solution across the major markets of continental Europe. As part of Deutsche Bank’s global wholesale solutions offering, this transaction represents another collaboration of its kind in Europe where a financial institution chooses key components from another provider’s cash management suite as an effective alternative to building or enhancing proprietary products and services to serve its corporate clients. Furthermore, it reflects Deutsche Bank’s role in the ongoing consolidation process in the European cash management market.