Germany’s Deutsche Bank and General Electric (GE) Treasury team in Japan have collectively developed and deployed a new cash management technology by customizing NTT Data's eBAgent, to modernize GE's Japanese Yen payment and reporting processes.
Several companies engage various banks for collection, payments, foreign exchange, investments and credit requirements, which could create challenges as it requires dealing with multiple banking platforms with different interfaces and formats.
Deutsche Bank global transaction banking corporate cash management Asia Pacific head Mahesh Kini said, the technology will create new efficiencies and save costs for corporate treasurers, while dealing with such challenges.
The latest technology introduced by the lender will deal with all concerns and provide a single channel to procedure multiple bank payments on NTT Data’s ANSER and synchronize the reporting into an integrated format.
By integrating their banking interfaces, the new technology will allow companies to save operational cost including transaction and maintenance costs, while releasing the resources.
Founded in 1870, the global investment bank has a workforce of 78,000 employees, in more than 70 nations across the globe and offers banking and wealth management services, among others.