20 October 2017
Register now

Deutsche Bank unveils new platforms for high value payments and cheque processing

11 October 2004  |  9648 views  |  0 Deutsch Bank

Deutsche Bank has launched Money Transfer New Architecture (MTNA), a single global platform for its high value payments processing that will replace all legacy money transfer applications for US Dollar, Euro and Sterling. It is also adding newly expanded cheque processing solutions to its suite of payment and collection products.

MTNA will be completed by the middle of 2005, paving the way for the bank to provide a common platform across the US dollar, euro and British pound. This will maximise Deutsche Bank’s position in major currency clearing. It is the No.1 Euro clearer (through RTGS+/TARGET and EBA), the No.4 US dollar clearer (through CHIPS) and the No.7 British pound clearer (through CHAPS).

Norbert Wanninger, head of Global Cash Management at Deutsche Bank, says: "The introduction of MTNA is a natural step in the evolution of our products’ scope as it will offer another conduit for us to provide a single payments distribution footprint that is truly global."

MTNA is built around one system running in several sites around the globe and the bank says it offers clients – both financial institutions and corporates – the benefits of product parity and consistent service levels regardless of currency, clearing system or location.

MTNA will offer features such as artificial intelligence capabilities supported by the latest learning software to automatically perform repetitive repairs, real-time straight-through processing performance metrics, and conditional payment triggers.

It is based on a multi-tiered component based architecture to support strategic initiatives, including the full multi-entity functionality required to undertake in-sourcing or white label processing.

Deutsche Bank has also recently launched db-cheque, a multi-currency, multi-local format draft issuance service out of Europe, complementing existing offerings in the US and Asia. Concurrently, the Bank’s European Priority Remittance Service, an industry-leading cheque clearing service, has been broadened to include 10 newly admitted European Union (EU) member countries. The service now enables clients throughout the EU to establish one account with Deutsche Bank from which to manage cheque clearing.

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

AT&T wins $60m networking contract from Deutsche Bank

AT&T wins $60m networking contract from Deutsche Bank

23 June 2004  |  2861 views  |  0 comments
Barclays signs cash management deal with Deutsche Bank

Barclays signs cash management deal with Deutsche Bank

05 May 2004  |  8091 views  |  0 comments
Deutsche Bank outsources procurement to Accenture

Deutsche Bank outsources procurement to Accenture

30 January 2004  |  6869 views  |  0 comments
Deutsche talks up single global payments platform

Deutsche talks up single global payments platform

20 October 2003  |  3932 views  |  0 comments

Related company news


Related blogs

Create a blog about this story (membership required)
visit www.innotribe.comvisit www.vasco.com

Who is commenting?

Top topics

Most viewed Most shared
Ripple looks to drive bank adoption with $300m XRP rebate programmeRipple looks to drive bank adoption with $...
15974 views comments | 12 tweets | 4 linkedin
Swift positive on blockchain, but big challenges remainSwift positive on blockchain, but big chal...
9066 views comments | 16 tweets | 23 linkedin
satelliteGates Foundation backs Ripple collaboratio...
8212 views comments | 13 tweets | 10 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
7218 views comments | 9 tweets | 17 linkedin
HSBC partners Bud for open banking trialHSBC partners Bud for open banking trial
6645 views comments | 18 tweets | 25 linkedin

Featured job

Competitive base + commission + benefits
Denmark, Finland, Iceland, Norway or Sweden

Find your next job