Deutsche Bank signs Anglo-Eastern to cross-currency payments technology

Source: Deutsche Bank

Deutsche Bank today announced that its cross-currency payments solution, FX4Cash*, has been chosen, piloted and launched by Anglo-Eastern, a leading provider of ship and crew management, as well as new shipbuilding consultancy services to third parties worldwide.

FX4Cash allows Anglo-Eastern to offer its own client base an innovative, global cross-currency payments solution that complements its own highly effective ship management.

FX4Cash combines Deutsche Bank's number one market share in global Foreign Exchange (FX) with its leading ranking in global cash management, providing global cross-currency payment solutions for corporate and financial institutions. Seamless access is offered via SWIFT, internet and host-to-host solutions. The FX4Cash system can also be customized at a client level to meet the diverse needs of financial institution and corporate customers around the world.

Matthew Richardson, Director, FX4Cash, Global Transaction Banking, Deutsche Bank, said, "We are pleased to be able to provide this solution to Anglo-Eastern, allowing them to extend the value of the FX4Cash offering to their extensive client base. FX4Cash enables our clients to broaden their business opportunities while reducing costs, improving efficiency and creating new ways to handle their global cross-currency payments."

Mark Stevenson, Financial Director, Anglo-Eastern, said, "At Anglo-Eastern, our industry leading client financial management system requires us to manage the multi-currency payment flows of our clients throughout the shipping industry. Deutsche Bank's new cross currency platform, FX4Cash, allows us to do that effectively and efficiently, ensuring payments reach port agents, manning agents and other payees on time and in the desired currency of the beneficiary. It is critical for us and our customers that we have a high quality product and partner to work with and we are very pleased to have FX4Cash and Deutsche Bank to meet that need."

*FX4Cash is an unregistered trademark of Deutsche bank AG. FX4Cash is part of a comprehensive range of db transaction solutions to enhance cash management efficiencies. This advertisement has been approved and/or communicated by Deutsche Bank AG London. The e services described in this advertisement are provided by Deutsche Bank AG or by its subsidiaries and/or affiliates in accordance with appropriate local legislation and regulation. Dueutsche Bank AG is authorised under German Banking Law (competent authority: BAFin ? Federal Financial Supervising Authority) and regulated by the Financial Services Authority for the conduct of UK business. Securities and investment banking activities in the United States are performed by Deutsche Bank Securities Inc., member NYSE, NASD and SIPC and its broker dealer affiliates. Lending and other commercial banking activities in the United States are performed by Deutsche Bank AG, and its banking affiliates. Deutsche Bank AG Dubai branch is an authorised firm regulated by Dubai Financial Services Authority, all services are solely directed at Professional Clients which Deutsche Bank AG Dubai branch is satisfied meet the regulatory criteria as established by the DSFA. Copyright Deutsche Bank 2008.

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