Source: Deutsche Bank
Deutsche Bank today announced that it is implementing an electronic banking signature solution together with Daimler Treasury in Singapore with potential application in further markets in Asia for the company's treasury functions.
Document and contract signing remains one of the most important and frequent processes between banks and its clients and, until today, has involved a high degree of manual processing. Leveraging DocuSign, an industry-recognized digital signature solution, Daimler will save costs and gain efficiencies by eliminating the need to send via physical documentation to Deutsche Bank.
Deutsche Bank has been Daimler's long-term core transaction banking partner in Asia Pacific, providing cash management, documentary trade, and risk management solutions.
The Daimler Group is one of the biggest producers of premium cars and the world's biggest commercial vehicle manufacturer with a global reach. The company provides financing, leasing, fleet management, insurance, and innovative mobility services.
Chintan Shah, APAC Head of Corporate Cash Management at Deutsche Bank, said: "We are pleased to strengthen further and expand our long-standing relationship with Daimler in the region with the accelerated roll-out of digital solutions to improve operational resilience and enhance risk controls. With this digital signature solution, Daimler's treasury function will be able to significantly reduce turnaround times for banking signatures from days to minutes while improving documentary risk control."
Dr. Kai Bartlmae, Head Treasury Operations Asia Pacific at Daimler, said: "We are continuously looking for new ways to streamline our operations using digital tools. Deutsche Bank and Daimler Treasury's use of DocuSign is a major step in digitalizing our treasury processes. We intend to use this solution in other areas in the near future. We are pleased with the benefits of DocuSign, which aligns with Daimler's culture on digital transformation."