Deutsche Bank launches FX4Cash in China and India
Deutsche Bank has launched its cross-currency payments solution, FX4Cash, for corporate clients in China and India. The solution allows the bank’s clients access to global currencies via a single platform and gives them the added ability to manage cross-border and cross-currency payments through one base account.
“By eliminating the need to maintain multiple foreign currency accounts, our corporate clients in China and India can now achieve even greater efficiencies in treasury management by reducing idle balances and FX (foreign exchange) exposure,” said Kefei Chang, Asia-Pacific head of FX4Cash, in a statement.
According to Chang, the platform “enables an end-to-end process flow and introduces efficiency, automation and transparency in price and information into what had been a relatively manual and error-prone process”.
J.P. Morgan enhances cash management solutions in Asia-Pacific
J.P. Morgan has announced several enhancements to its suite of cash management solutions. Both J.P. Morgan Access – the bank’s online platform which provides users with a single point of access to its treasury services and worldwide securities services – and J.P. Morgan Receivables Edge, which is its receivables management solution, now have additional Chinese and Japanese language capabilities. The bank’s International Demand Deposit Account (IDDA) platform is now available in Australia, New Zealand, Taiwan and Thailand.
“With our clients constantly seeking to improve their efficiency, reduce their cost and mitigate their risk, it is fundamentally important that we continue to deepen our country focus and expand our solution set to further build on the strengths and success of our integrated cash and liquidity management platform in Asia-Pacific,” said Hendra Lembong, Asia-Pacific head of cash management at J.P. Morgan treasury services, in a statement.
China Everbright Bank awards card mandate to ChinaSoft
Hong Kong-based solutions provider, ChinaSoft International, has won a card system development and managed service contract from China Everbright bank. The bank’s credit card system is based on VisionPlus, widely used by US and Europe-based banks, and ChinaSoft has been dealing with VisionPlus on integration and a consulting service for almost 10 years.
In addition, Shanghai Bank has implemented ChinaSoft’s self-owned intellectual property credit card system, TopCard. TopCard was designed for local banks and is a scalable credit card system which is used by several joint-stock commercial banks on the mainland.
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