Deutsche Bank delivers faster international payments
April 17, 2018

Deutsche Bank says in a release this morning that it has significantly improved payments for its clients by investing in IT and co-operating with SWIFT (Society for Worldwide Interbank Financial Telecommunication).

Said Michael Spiegel, Head of Cash Management at Deutsche Bank: "International payments are executed faster, more securely, and with more transparency. This significantly eases the burden on company finance departments in particular." Deutsche Bank adds that clients can obtain real-time information on the status of their payments for the first time.

Since November 2017, Deutsche Bank has been using "SWIFT gpi Service" for international payments, for example from Germany and the USA. Deutsche Bank currently settles around ten percent of these transactions worldwide.

Current data highlights the benefits for the bank's clients: Deutsche Bank executes some 90 percent of all gpi payments in less than 24 hours and nearly half of all payments in under 30 minutes, for example US dollar payments from Shanghai to Sydney. Some payments are even executed in less than one minute, e.g. US dollar transfers from the US to the UK or Germany.





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Deutsche Bank says in a release this morning that it has significantly improved payments for its clients by investing in IT and co-operating with SWIFT (Society for Worldwide Interbank Financial Telecommunication).

Said Michael Spiegel, Head of Cash Management at Deutsche Bank: "International payments are executed faster, more securely, and with more transparency. This significantly eases the burden on company finance departments in particular." Deutsche Bank adds that clients can obtain real-time information on the status of their payments for the first time.

Since November 2017, Deutsche Bank has been using "SWIFT gpi Service" for international payments, for example from Germany and the USA. Deutsche Bank currently settles around ten percent of these transactions worldwide.

Current data highlights the benefits for the bank's clients: Deutsche Bank executes some 90 percent of all gpi payments in less than 24 hours and nearly half of all payments in under 30 minutes, for example US dollar payments from Shanghai to Sydney. Some payments are even executed in less than one minute, e.g. US dollar transfers from the US to the UK or Germany.



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