German bank launches FX platform in Sri Lanka

The rollout of the digital FX platform follows the launch of an online payment facility for customs and excise for importers in 2019

Deutsche Bank Sri Lanka

German bank launches FX platform in Sri Lanka. Source: shutterstock.com

Deutsche Bank announced the launch of a new digitally-enhanced foreign exchange (FX) platform. That would introduce a comprehensive range of digital FX solutions for the bank’s corporate clients in Sri Lanka.

Clients are challenging the historical trend of settling payments in USD between two Asian markets, as they become more aware of the layers and costs in their payment chain. As a result, clients are demanding cheaper and faster ways of delivery, which our digital FX platform Autobahn is enabling
Vikas Arora, Deutsche Bank Sri Lanka Chief Country Officer

E-commerce customization brings a change to payments currency and cross-border supply chains across Asia. By the middle of the year, Deutsche Bank Sri Lanka is expected to be on par with other Deutsche Bank branches in Asia. It would enable clients to pay in local currency between 2 Asian markets, lowering the FX execution costs to a single conversion. In addition to that, customers would get faster delivery between the branch network.

Additional upgrades are aimed to further improve the foreign currency payment offering for both inbound and outbound payments in Sri Lanka Rupee (LKR).

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