Deutsche offers corporates direct access to Swift
02 October 2007 | 2597 views | 0
Source: Deutsche Bank
Deutsche Bank today announced that it provides its corporate clients with a comprehensive range of channel management options, including direct access to the SWIFT network. In January 2007, the Standardized CORporate Environment (SCORE) model of corporate access was introduced by SWIFT. Deutsche Bank was one of the first banks to offer this new access model to its corporate clients, complementing the Bank's other access channels.
Deutsche Bank successfully piloted SCORE with General Electric (GE) earlier this year. Over the last few months, there has been accelerated client interest in this platform.
Users of SCORE benefit from signing up once for network access directly through SWIFT rather than through each of their banks individually. Corporations that maintain multiple proprietary connectivity solutions may achieve major cost savings through direct SWIFT access and will have the added advantage of reducing the risks inherent in maintaining multiple, distinct links with multiple banks. Through SWIFTNet FileAct, Deutsche Bank can support file formats such as EDIFACT, IDOC, CSV and XML.
Marilyn Spearing, Head of Trade Finance and Cash Management Corporates, Global Transaction Banking, Deutsche Bank, said, "Deutsche Bank embraces SWIFTNet and has committed the necessary investment to extend its leadership role in terms of its offering. We have made it a priority to offer clients the level of integration and flexibility that they require. They can send a file through one channel while reviewing and approving through another channel. As our clients' needs evolve, so do our treasury solutions."
Andrew England, Head of Cash Management Product Management, Global Transaction Banking, Deutsche Bank, said, "Strong integration of SWIFTNet capabilities with existing channel management products has fashioned a unique solution for customers. SWIFT's strengths of security and stability are combined with the flexibility of db-direct internet, Deutsche Bank's state-of-the-art electronic banking platform. Ability to send an IDOC file via SWIFTNet FileAct and to be able to authorize through db-direct internet can be extremely beneficial when positioned against our clients' geographies and internal controls."