Ping An Bank and Deutsche Bank to Expand Clearing Service Cooperation
Ping An Bank (PAB) and Deutsche Bank have signed a memorandum of understanding expanding their cash management relationship by using Deutsche Bank’s US dollar (USD) clearing for commercial and treasury payments solution via Deutsche’s Autobahn App Market.
The Autobahn App Market allows clients such as PAB to access real-time information reporting services which, combined with liquidity and investment services, is designed to improve forecasting capabilities. The treasury clearing solution from Deutsche Bank’s is designed to help clients improve efficiency of intraday cash flows by providing services to control payment prioritisation and manage complex payment arrangements.
“We are delighted to expand our long-standing relationship with Deutsche Bank especially in USD payment clearing for both commercial and treasury payments,” said Mr. Hu Yuefei, executive vice president at Ping An Bank. “We truly believe this will enable us to achieve higher efficiency when providing USD payment services to our corporate and retail clients.”