Deutsche Bank, a premier check services provider globally, announced today the expansion of its global check processing capabilities by adding three new hubs, Singapore, Jakarta and Tokyo, to its network in Asia.
Clients now have access to a total of nine check processing hubs in Asia, each providing full image-based services. The existing check processing hubs in Asia are Bangkok, Colombo, Hong Kong, Manila, Mumbai, and Taipei.
This expanded offering allows the Bank and its clients to realize further efficiencies as there is no longer a need to physically transport paper checks back to the United States for clearing. Utilizing this enhanced check processing platform, clients have various options for their US dollar check deposits. They can use remote capture by scanning items themselves, or leave their existing process unchanged but send physical items to Deutsche Bank's Asian hubs or to Eschborn, Germany, for capture by the Bank's staff and electronic transmission to New York. Clients can select the option that works best for them.
John Ball, Regional Head of Cash Management Financial Institutions, Asia Pacific, Global Transaction Banking (GTB), Deutsche Bank, said, "Our focus is always on serving our clients. The Bank's strategic offering of its enhanced check processing platform in Asia, which is known for greater check usage, will help clients reduce systemic risks associated with physical check movement and minimize the costs typically associated with traditional check payment processing."
Paul Camp, Head of Cash Management Financial Institutions, GTB, Deutsche Bank, said, "In Asia, where checks remain a market practice, we see this as a step towards the future as image-based paperless check processing becomes an industry standard. Deutsche Bank continually invests in technology to provide clients with increasingly efficient ways of handling check processing. "
Additionally, Deutsche Bank, the #1 euro clearer worldwide, is able to provide robust check services in the new single euro payments area (SEPA) environment. In order to help its clients deal with the intricacies of issuing and collecting checks in Europe, Deutsche Bank has cres created a comprehensive set of check services, available to clients worldwide via a single point of contact: Deutsche Bank. These services are complemented by Deutsche Bank's market-leading fraud prevention capabilities.