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

Cash management systems on the rise in SME sector

Cash Management Cash management systems on the rise in SME sector

5d Abi Millar
Make way for the millennial accounts payable activist

Accounts Payable Make way for the millennial accounts payable activist

1m Nilay Banker
Rising rates put pressure on accuracy of cash forecasts

Cash Management Rising rates put pressure on accuracy of cash forecasts

4m Conor Deegan
Burn those spreadsheets - and 4 other ways that treasurers can help their CFOs sleep better

Automation Burn those spreadsheets - and 4 other ways that treasurers can help their CFOs sleep better

4m Bob Stark
How to forecast cash flow: what software should I use?

Cash Forecasting How to forecast cash flow: what software should I use?

4m Michael McCaw
What is the function of corporate treasury?

Cash Management What is the function of corporate treasury?

4m Michael McCaw
China’s regulatory changes stimulate international interest

Asia Pacific China’s regulatory changes stimulate international interest

5m Michael McCaw
Treasury TV: Jill Harrison, Whitbread Plc

10 Minutes With The Treasury Treasury TV: Jill Harrison, Whitbread Plc

5m Victoria Beckett