In corporate cash management, Deutsche Bank has delivered several innovations over the past year. In partnership with Treasury Intelligence Solutions (TIS), Deutsche Bank has, for example, developed a new payment fraud prevention solution which helps to improve the detection of potential fraud before the payment instruction even leaves a client’s system.

Additionally in 2021, the roll-out of instant payments was accelerated, market leading FX4Cash capabilities were expanded, and Deutsche Bank re-entered the Merchant Solutions market, establishing new value-added solutions for corporates such as split payments for market places, which allow funds to be credited to different sellers within one transaction.

These achievements, which are helping corporate treasurers to better manage their daily operations and to benefit from digital innovation, have now been rewarded by Treasury Management International (TMI), which named Deutsche Bank “Global Bank of the Year for Innovation”. For more than 25 years, TMI has been dedicated to promoting best practices and innovations in treasury management.

“We are delighted to be recognised by TMI as the global driver of innovation,” said Ole Matthiessen, Global Head of Cash Management. “At Deutsche Bank, we are excited about shaping the future of financial services. This award demonstrates our focus on building innovative solutions and introducing market leading services to empower our clients in a digital world.”

According to TMI, this award recognises – among other achievements – Deutsche Bank’s success in developing its innovative solution called “In-House Banking as a Service” (IHBaaS). This service was introduced at the start of 2021 to lower the barriers for corporates when setting up an In-House bank.

Against the backdrop of the Covid-19 pandemic, improving transparency in cash management and increasing efficiency in payment processes have become top priorities for corporate treasurers. Yet, centralising payments and cash management usually creates a high workload for their company’s IT department.

Deutsche Bank addressed this issue by introducing its innovative IHBaaS solution, which allows companies to access cloud-based In-House banking solutions via Deutsche Bank; thereby enabling more corporate treasury departments to benefit from centralisation.

“With In-House Banking as a Service, companies can streamline payment processes, simplify liquidity management and automate inter-company loan and interest management”, said Christof Hofmann, Head of Corporate & Payment Solutions, Deutsche Bank.

Robin Page, CEO, TMI said: “Deutsche Bank continues to push the boundaries of innovation – never simply following the crowd but taking industry trends and transforming them into meaningful solutions for clients. Throughout 2021, Deutsche Bank has demonstrated innovative leadership, through its partnerships with organisations such as TIS, as well as flagship offerings like In-House Banking as a Service (IHBaaS). The TMI Judges were particularly impressed by the way that IHBaaS enables a range of businesses to access the benefits of centralisation – IHBs are no longer the preserve of the largest corporates. The TMI team warmly congratulates Deutsche Bank on this Award win and looks forward to seeing what the Global Bank of the Year for Innovation does next!”

The 2021 TMI Awards winners have been announced via the TMI LinkedIn page. TMI will also host a special virtual awards ceremony next month, where it will present the awards to the global treasury world, via a live digital broadcast, and publicity via LinkedIn.