TransferMate, the world’s leading provider of embedded B2B payments infrastructure as a service (IaaS), has today announced a strategic partnership with Deutsche Bank.
The long-term partnership will see TransferMate work with Deutsche Bank in various countries, enabling TransferMate to provide in-country collections, cross border payments, and the ability to store funds locally.
TransferMate now has the most extensive local collection capabilities of any B2B cross-border payments provider, building on what is already the largest fintech payment infrastructure in the world.
"The strategic collaboration between TransferMate and Deutsche Bank underscores the immense potential of fintech-bank partnerships in accessing and scaling global markets, particularly navigating the high-growth yet diverse Asia Pacific landscape," said Ole Matthiessen, Head of Cash Management & Head of CB APAC MEA at Deutsche Bank. "This showcases the strength of our offering, aligning seamlessly with our Global Hausbank strategy. We look forward to this journey together, which will drive TransferMate's growth and improve their operational efficiencies through our tailored solutions."
In its initial phase, the partnership will facilitate business in several APAC markets – with an aim to expand into other regions thanks to Deutsche Bank’s extensive global network.
As a result, TransferMate can immediately expand its local in-country collection, payments and stored value capabilities. Partners within key industry sectors, including education, financial institutions and e-commerce, are set to benefit from the cooperation.
Commenting on the partnership, Gary Conroy, CEO at TransferMate, said: “Our collaboration with Deutsche Bank is another significant milestone as we continue to grow our global footprint and be the embedded B2B partner of choice. This partnership further strengthens our reach, our capabilities, and the value we bring to our partners and their clients.”
Terry Clune, Founder of TransferMate, added: “We’re proud to have built the world's largest fintech payments network. With Deutsche Bank coming on board, we’re providing our global partners with access to an even greater pool of currencies to help drive their business forwards.”