Deutsche implements new payments solution

New money transfer architecture replaces the bank's legacy system and gives customers greater control over payments.
Deutsche Bank has rolled a new architecture for transferring money that replaces its legacy US dollar system. The product, called MTNA, is being targeted first at the bank's financial institution clients, but will also be extended to corporate clients in Asia.

The solution will appeal to local clients because the 24-hour processing model will enable them to process payments in the morning. The architecture currently covers dollar payments and will be extended to cover euro payments in 2007.

Deutsche Bank says clients will also be attracted to its customisation benefits. ôClients want greater control over the timing of payments - specifically those in country or in region - and the increasing drive to have higher straight through processing (STP) in the their back offices,ö says Timothy Merrell, Deutsche BankÆs head of financial institutions high value payments product management. ôMTNA supports all of these trends with reference pattern matching, timed payments and end-to-end STP.ö

One of the STP elements of MTNA is its ability to perform repetitive repairs, helping to reduce error rates and manual intervention.

MTNA allows clients to time the release of their treasury and commercial payments and to drill down to the payee level. Clients will be able to identify payment errors and move to resolve them promptly and efficiently.
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