27 August 2016
Find out more

Deutsche Bank takes stake in Eurogiro

20 January 2010  |  7584 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  |  10149 views  |  0 comments
Deutsche Bank marches on China

Deutsche Bank marches on China

14 September 2009  |  4624 views  |  0 comments
Deutsche Bank faces probe over alleged snooping operation

Deutsche Bank faces probe over alleged snooping operation

07 July 2009  |  4836 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  |  8224 views  |  0 comments
Citi and Eurogiro partner to extend payment networks

Citi and Eurogiro partner to extend payment networks

31 August 2007  |  6487 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  |  4803 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit VocaLink.comVisit www.abe-eba.euVisit capgemini.com

Top topics

Most viewed Most shared
hands typing furiouslyBig Data's Three Big Trends in 2016
7752 views 5 | 22 tweets | 13 linkedin
hands typing furiouslyHow Banks Are Losing Millions by Ignoring...
7559 views 11 | 24 tweets | 10 linkedin
Nordea looking for AI and blockchain breakthroughsNordea looking for AI and blockchain break...
6597 views comments | 17 tweets | 21 linkedin
R3 blockchain consortium sheds light on Concord projectR3 blockchain consortium sheds light on Co...
6089 views comments | 14 tweets | 14 linkedin
India's Unified Payments Interface goes live with 21 banksIndia's Unified Payments Interface goes li...
5726 views comments | 16 tweets | 18 linkedin

Featured job

Find your next job