20 February 2017
Visit dh.com

Deutsche Bank takes stake in Eurogiro

20 January 2010  |  7723 views  |  0 cash

Deutsche Bank's global transaction banking unit has agreed to take an eight per cent equity stake in cross-border payments outfit Eurogiro. Financial terms of the deal were not disclosed.

Eurogiro is the world's second largest network for cross-border payments, with a focus on connecting postal organisations, post banks and other financial institutions.

Deutsche Bank has been working with Eurogiro for over 10 years and is an acting member on its board. In addition, the bank provides Eurogiro's members with US settlement services, which are currently being expanded to include multi-currency. For its part, Eurogiro provides Deutsche Bank with access to its global network of postal banks and organisations.

The investment deal will see Eurogiro gain access to support from a Tier 1 transaction bank while also ensuring financial flexibility to keep abreast with the latest developments in the payments market, say the companies.

Deutsche Bank, in turn, will combine its market position in payments and cash management with Eurogiro's retail distribution power through the global postal network with a reach of over two billion individuals worldwide.

Paul Camp, head, cash management financial institutions, Deutsche Bank says: "Becoming a shareholder in Eurogiro perfectly supports our Global Remittance initiative. Clients will benefit from our existing product capabilities enhanced with the Eurogiro reach and functionality such as SMS advising. With minimal investment, our global clients can earn additional revenues as well as attract and retain customers with a new and improved remittance offering."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Deutsche Bank and CBA join cloud computing group

Deutsche Bank and CBA join cloud computing group

15 December 2009  |  10292 views  |  0 comments
Deutsche Bank marches on China

Deutsche Bank marches on China

14 September 2009  |  4720 views  |  0 comments
Deutsche Bank faces probe over alleged snooping operation

Deutsche Bank faces probe over alleged snooping operation

07 July 2009  |  4945 views  |  0 comments
Deutsche Bank and Logica team on plug and play Sepa Connector

Deutsche Bank and Logica team on plug and play Sepa Connector

12 May 2009  |  8396 views  |  0 comments
Citi and Eurogiro partner to extend payment networks

Citi and Eurogiro partner to extend payment networks

31 August 2007  |  6588 views  |  0 comments
Visa extends P2P system to non-cardholders through Eurogiro alliance

Visa extends P2P system to non-cardholders through Eurogiro alliance

09 June 2004  |  4923 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
http://www.financialcrimerisk.fiserv.com/aml?r=finextravisit BNP paribasVisit capgemini.com

Top topics

Most viewed Most shared
IBM and Visa join forces to turn billions of connected devices into points of saleIBM and Visa join forces to turn billions...
15376 views 11 comments | 50 tweets | 84 linkedin
Nesta launches £5 million Open API challengeNesta launches £5 million Open API ch...
10159 views comments | 21 tweets | 18 linkedin
Jaguar embeds payments into digital dashboardJaguar embeds payments into digital dashbo...
9718 views comments | 49 tweets | 56 linkedin
The fintech effect: Banks buy in to benefits of boosting financial well-beingThe fintech effect: Banks buy in to benefi...
9001 views comments | 16 tweets | 11 linkedin
Kevin the bot uses blockchain to offer insurance for P2P transactionsKevin the bot uses blockchain to offer ins...
7837 views comments | 16 tweets | 12 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job