Germany-based financial institution Deutsche Bank has announced the launch of dbX, intending to advance the capabilities of its integrated correspondent banking ecosystem. By introducing the new solutions, Deutsche Bank intends to provide financial institution clients with access to new and optimised functionalities developed to utilise its leadership, investment, and global network.

The initial launch aims to focus on improving the bank’s commercial payments (dbXflow), transactional foreign exchange (dbXconvert), and treasury solutions (dbXtreasury) offerings, as well as the addition of dbXadvise. The latter merges individual advisory features with flexible information and data tools. As part of the second phase, Deutsche Bank plans to launch trade finance functionalities. When commenting on the announcement, representatives from the bank underlined that the launch of the dbX solutions serves the financial institution’s commitment to enabling clients to expand their operations in the global marketplace.

In addition, Deutsche Bank underlined that correspondent banking remains a core strategic business for it, with the investments made in dbX reaffirming its allegiance to meeting the current and upcoming needs, demands, and preferences of clients. The current news follows Deutsche Bank’s launch of BASF’s sustainability-linked payables finance program in Asia, with a focus on its operations in China. Through this program, the bank was set to assist BASF’s operations in China by transforming its existing payables finance program into sustainability-linked financing for some of its subsidiaries. This was set to enable BASF to encourage its suppliers to adopt more sustainable practices.

Commercial payment solutions Among the capabilities provided by the several dbX solutions, Deutsche Bank underlines: dbXflow provides a range of cross-border commercial payment services with advanced pricing features, with the bank integrating new elements, including a low-value full-principal payment proposition delivered at competitive rates; dbXconvert complements Deutsche Bank’s commercial payment solutions by providing a range of transactional foreign exchange services. The service comes as an addition to the bank’s multi-currency solutions and FX4Cash, with the latter being upgraded to enable financial institution clients to fund the bank in their currency without needing an account in this particular currency; dbXtreasury scales Deutsche Bank’s current liquidity offering centring around intraday services for managing financial institution treasury needs. Additional functionalities in the form of Intraday Liquidity Optimisation by leveraging data and analytics are set to be launched to support clients in minimising liquidity usage and increasing payment functioning; dbXadvise, coming as a part of the bank’s cash and trade offering, intends to support clients with the difficulties of conducting business in complex markets by delivering self-service tools, data provision on liquidity positions, and flexible API reporting capabilities.

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