Cash & Liquidity ManagementCash ManagementDeutsche Bank, Bank of China unite on cash management platform

Deutsche Bank, Bank of China unite on cash management platform

An interbank host-to-host platform implemented by the two banks will provide cash management services for Bosch China.

Deutsche Bank and Bank of China have implemented an interbank host-to-host (H2H) platform to provide cash management services to Bosch China. The German engineering group has had a presence since 1909 in China, where 53,000 of its 375,000 worldwide employees are based

With the launch, Deutsche Bank becomes the first foreign bank in China to establish H2H connectivity with Bank of China. Bosch, the first company to use the platform, will be able to execute domestic and cross-border payments in both renminbi (RMB) and foreign currencies, and make account balance and transaction inquiries, whilst maintaining one internet banking platform.

Deutsche Bank and Bank of China set up a project team last September, with the aim of meeting Bosch’s banking needs and improving its cash management service and the H2H platform was officially launched in January this year.

The new platform enables the two banks to exchange messages in an agreed format and offer a better solution to corporate clients than the standard partner banking arrangement based on service level agreements (SLAs).

“The successful launch of this H2H platform marks a new milestone in Bank of China and Deutsche Bank’s cooperation in cash management services,” said Carl Wegner, managing director, head of global transaction banking, Greater China at Deutsche Bank. “We are also proud to deepen our relationship with Bosch in China. This accomplishment further demonstrates our client-centric approach.”

 

More reading: How to chose the ideal cash management software solution

Related Articles

AccessPay appoints Tim Butchart as Chief Revenue Officer

Cash Management Regional AccessPay appoints Tim Butchart as Chief Revenue Officer

1w Jay Ashar
Standard Chartered to strengthen cash management in Europe

Cash Management Standard Chartered to strengthen cash management in Europe

2m Jay Ashar
J.P. Morgan unveils new liquidity management platform

Cash & Liquidity Management J.P. Morgan unveils new liquidity management platform

2m Jay Ashar
UX design for cash management

Cash Management Regional UX design for cash management

2m Shaahin Mohammadi
Citi TTS partners with software fintech to simplify cash management

Cash Management Citi TTS partners with software fintech to simplify cash management

2m Austin Clark
Bank of America joins the Marco Polo Network

Accounts Receivable Bank of America joins the Marco Polo Network

2m Jay Ashar
Justin Meadows joins FXD Capital as Non-Executive Director

Cash & Liquidity Management Justin Meadows joins FXD Capital as Non-Executive Director

3m Jay Ashar
ANZ turns to Gresham for cash management solution

Cash Management ANZ turns to Gresham for cash management solution

3m Jay Ashar

Whitepapers & Resources

Transaction Banking Survey 2019

Transaction Banking Survey 2019

3m
TIS Sanction Screening Survey Report

Payments TIS Sanction Screening Survey Report

5m
Enhancing your strategic position: Digitalization in Treasury

Payments Enhancing your strategic position: Digitalization in Treasury

7m
Netting: An Immersive Guide to Global Reconciliation

Netting: An Immersive Guide to Global Reconciliation

10m