Deutsche Bank to develop multi-bank services through new partnership

They aim to focus on new products and services

Deutsche Bank fraud

Deutsche Bank to develop multi-bank services through new partnership. Source: shutterstock.com

Deutsche Bank and Treasury Intelligence Solutions (TIS) have announced they are entering a strategic partnership to develop and distribute multi-bank services for Treasury & Finance.

According to information, the first area of cooperation is a payment fraud prevention solution combining TIS’ cloud platform with the expertise of Deutsche Bank in fraud prevention.

Payment fraud is a major issue for CFOs and finance departments, the report states. Both parties see increasing demand from clients for effective solutions that are easy to use and can be deployed rapidly.

The software service will extend beyond the payment data of individual customers, leveraging the knowledge of all corporates using the service, while the shared data remains anonymized.

The solution will help improve the detection of potential fraud before the payment instruction even leaves a client’s system.

Establishing client solutions that are beyond traditional financial services by leveraging Deutsche Bank’s expertise in global payment markets is a key focus area for us. Partnering with TIS and combining our strengths with an established provider of technology-enabled treasury services will provide our clients with a state-of-the-art, multi-bank-enabled risk management tool to mitigate an ever-increasing fraud risk
Ole Matthiessen, Global Head of Cash Management at Deutsche Bank

We’ve reported that Deutsche Bank boosts partnership with fintech giant.

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