KLM flies through payments

Centralisation of payments is relatively easy in Europe, but what if payments have to made in Asia? KLM finds a solution.

KLM Royal Dutch Airlines is the first successful pilot customer to use Deutsche Bank's single link between Europe and Asia for global payments processing. The system allows multinational companies MNCs to process their cross-regional business directly through one bank.

Under this payments processing solution, the airline sends a single file of payment instructions for its Asian suppliers from its global treasury service center in Amsterdam directly to the bank in Frankfurt. The instructions are in EDIFACT format and contain both ACH payments and drafts for beneficiaries in Asia. Deutsche Bank then sends the information to its Singapore branch where the information is split into instructions for payments to KLM beneficiaries via Deutsche Bank's...

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