Deutsche Bank launches digital FX platform for corporate clients in Sri Lanka

Thursday 20 February 2020 09:26 CET | News

Deutsche Bank has announced it is investing in Sri Lanka and launching a major push into the corporate client market, with the rollout of a new digitally-enhanced Forex platform.

The rollout marks the bank’s first step in introducing a suite of digital FX solutions for its corporate clients in Sri Lanka.

Ecommerce customization is driving a change in payments currency, and supply chains across Asia are demanding banks and payment service providers to enable local currency payment.

By mid-year Deutsche Bank Sri Lanka aims to be on par with other Deutsche Bank branches across Asia where clients can pay in local currency between two Asia markets, reducing the FX execution costs to a single conversion along with a faster delivery between the branch network.

In addition to introducing the enhanced FX platform, the bank is also extending FX API technology to local clients. This means they can connect the bank’s platform into their own direct sales ecommerce infrastructure, while the bank supports them in pre and post trade activities.

Globally Deutsche Bank most often sees API used by clients to expand their own B2B and B2C sales offering by introducing a wider range of currencies for online transactions. This provides end customers with greater choice around payment currency and often local currency is preferred, given USD currency movement can affect price point.

More upgrades are planned in the rest of the year to further enhance the foreign currency payment offering for both inbound and outbound payments in Sri Lanka Rupee (LKR).

More: Link

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Keywords: Deutsche Bank, digital, FX , corporate, Sri Lanka, payments , ecommerce
Categories: Payments & Commerce
Countries: Sri Lanka
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