Deutsche Bank Launches Next Generation Correspondent Banking Solutions With the Introduction of dbX

Deutsche Bank’s Institutional Cash and Trade announces the  launch of dbX, paving the way for its next generation, fully integrated correspondent  banking ecosystem. dbX will give financial institutions (FI clients) access to new and  enhanced functionalities designed to better leverage the bank’s thought leadership, investment and extensive global network. 

The first wave of the launch focuses on enhancing Deutsche Bank’s commercial payments (dbXflow), transactional FX (dbXconvert) and treasury solutions (dbXtreasury) offerings, with  the addition of dbXadvise, which combines individual advisory capabilities with extensive  but flexible information and data tools. Trade finance functionalities will be launched in a  second phase. 

dbXflow – offers a complete range of cross-border commercial payment services with  significantly enhanced bespoke pricing capabilities. New elements have been incorporated, including a low value full-principal payment proposition offered at extremely competitive  rates, starting with EUR. With Deutsche Bank at the forefront of upcoming industry  initiatives such as SEPA One-leg-Out and Swift Go, its strategy is to support clients to  optimise their transactional flows at the best possible price, without waiting for mass  adoption within the industry. dbXflow will be available for EUR, USD and GBP payments. 

dbXconvert – complementing Deutsche Bank’s commercial payments solutions, dbXconvert  offers an enhanced range of transactional FX services. In addition to the bank’s established  multi-currency services and FX4Cash, its global cross-currency platform with 130+  currencies, new functionalities are being added to the platform. The FX4Cash engine will be  upgraded to allow FI clients to fund Deutsche Bank in their own currency (e.g., DKK) without  the need for a Deutsche Bank account in this currency. Clients can utilise the engine to  convert into another currency (e.g., ZAR). In a second step, the bank will introduce its  autoconvert solution to automatically convert commercial cross-border payments to the  local currency of the beneficiary for specific corridors.  

dbXtreasury – exploring a holistic solution to optimise liquidity and treasury payment needs,  dbXtreasury expands Deutsche Bank’s current liquidity offering focusing on intraday  solutions for managing FI treasury needs in an instant world. New functionalities in the form  of Intraday Liquidity Optimisation with the use of advanced data and analytics will be  introduced that can help clients reduce liquidity usage and improve payments functioning. 

dbXadvise – as part of Deutsche Bank’s strategy to operate in a more efficient, safer and  inclusive correspondent banking ecosystem, dbXadvise services now form an integral part of  its cash and trade offering. Advisory services range from supporting clients with the  complexities of conducting business in challenging markets, through to offering self-service  tools, data provision on liquidity positions and flexible API reporting capabilities.  

Patricia Sullivan, Global Head of Institutional Cash Management at Deutsche Bank, says:  “The launch of our dbX solutions highlights our commitment to empowering FI clients to  succeed in the global marketplace. Correspondent banking remains a core strategic business  for Deutsche Bank. Our investments in dbX reaffirm our commitment to meeting both the  current and future needs of our clients. Dedicated to our clients’ lasting success, we  continue to innovate and invest in solutions that drive their growth and efficiency.”