Deutsche Bank wins six awards at EMEA Finance's Treasury Services Awards 2023

Deutsche Bank has won six awards across four categories at EMEA Finance’s Treasury Services Awards 2023. The result – which represents the 14th consecutive year that Deutsche Bank has received recognition in these awards – is testament to the Corporate Bank’s position as a trailblazer in the EMEA region.

Deutsche Bank won the following awards:

• Best Payment Services in EMEA
• Best Payment Services in Europe
• Best FX Services in EMEA
• Best FX Services in Europe
• Best Treasury Services in Europe
• Best Cash Management Services in Europe

“The success at the awards reaffirms Deutsche Bank’s longstanding commitment to innovation”
Jan-Philipp Gillmann, Head of Corporate Bank in EMEA (exc. UKI), Deutsche Bank

“Our success at the EMEA Finance awards is testament to the strong partnerships we have curated with our long-standing clients across the EMEA region, as well as our continued investments in technologies and new age solutions. In combination, this approach has put us in a position of strength – and has allowed us to provide clients with the support they need to successfully navigate today’s challenging macroeconomic backdrop.”

From playing an active role in leading industry initiatives to supporting clients as they further digitalise their treasury operations, Deutsche Bank is best positioned to drive tomorrow’s treasury – and this is something that has already started to take shape.

“Regarding the specific EMEA landscape, we already see a ‘follow-the-leader’ trend from local and regional banks who are working to catch up with Deutsche Bank,” said Christopher Moore, CEO & Publisher at EMEA Finance. “We expect this trend to continue, and for the bank to steam along without looking back.”

On the Corporate Cash Management side, Deutsche Bank successfully partnered with Siemens to virtualise a large part of its corporate bank account structure by converting traditional IBANs into virtual IBANs. This project is part of a larger ongoing effort by Deutsche Bank to build the foundation for future opportunities – and, ultimately, create a real-time transactional infrastructure that brought significant benefits to clients – from process efficiencies and better scalability.

Pushing the boat out further, Deutsche Bank also expanded its partnership with Mastercard to jointly develop innovations in the area of digital payments to enable companies to offer their products and services to new customer demographics, in order to develop digital business models and to expand sales channels in Germany and beyond.

“Digitalisation is at the heart of everything that we do”
Ole Matthiessen, Global Head of Cash Management & Head of Corporate Bank APAC

“We are very proud to be recognised for our solutions-driven strategy as a testament for enabling new business opportunities and untapping new revenue potential for our clients explained Ole Matthiessen, Global Head of Cash Management & Head of Corporate Bank APAC at Deutsche Bank. “By ensuring that digitalisation is at the heart of everything that we do, we have been able to not only help our corporate clients overcome challenges in their cash management but also empower them in their strategic treasury evolution through with innovative, future-proof solutions.”

On the Institutional Cash Management side, the bank has continued to promote Swift Go, which enables consumers and SMEs to send fast, predictable, cost-effective and secure low value payments. As one of the Swift Go pioneers, Deutsche Bank is already live as a euro intermediary and is working as an instructed bank as well, with US dollar and GDP planned towards H2 2023. In addition, Deutsche Bank maintained support for the industry effort to migrate to ISO20022 by sharing the latest developments and know-how on the migration, with a host of discussions and publications around the changing deadlines.

“Through initiatives such as Swift Go and ISO20022 we are helping to shape and transform the banking industry of tomorrow”
Daniel Schmand, Global Head of Institutional Cash Management and Corporate Bank Operations at Deutsche Bank

“By playing an active role in market and industry collaboration – through initiatives such as Swift Go and ISO20022 – we are helping to shape and transform the banking industry of tomorrow,” said Daniel Schmand, Global Head of Institutional Cash Management and Corporate Bank Operations at Deutsche Bank. “It is an honour to be recognised for these efforts – and I look forward to seeing where another year of progress takes us.”

Awarded Best FX Services in Europe, one particular area highlighted by the judges was Deutsche Bank’s role in transforming Valentino’s FX operations in Korea by implementing a bespoke “accountless” FX workflow solution. Specifically, Deutsche Bank set up a virtual account in Korea for its headquarters, Valentino S.p.A., eradicating the need for a manual transfer between Korea and Italy. Under the new workflow, Valentino Korea now pays the virtual account in Korean Won which, thanks to Deutsche Bank’s FX4Cash platform, is then automatically converted into Euros before being settled directly into Valentino’s master account in Italy.

“Without the help of our EMEA clients and the dedicated members of our Corporate Bank team, none of this award-winning work would have been possible,” added Gillmann. “I would like to express a sincere thank you to all involved for their continued hard work, trust and partnership.”