Deutsche Bank and DataMesh did not disclose the financial terms of the transaction.
With DataMesh’s Unify payment orchestration layer, Deutsche Bank can operate with individual acquirers in different countries, enabling merchants to accept payments through online methods within individually regulated currency zones. DataMesh is consolidating the payment data cross-border and enables Deutsche Bank clients to centrally control their payments across these currency borders and different jurisdictions.
The APAC region combines more than ten currencies and more than 40 different payment methods. The APAC region accounts for over half of global payments revenues and the strong growth is expected to continue in the coming years. The variety of local currencies and payment methods creates opportunities for payment solutions to capture untapped potential and underserved populations.
As a first step, Deutsche Bank is launching the solution in India. Over the course of 2023, the bank will be able to offer online payment acceptance in five more markets (Australia, South Korea, Thailand, Indonesia, and Vietnam) as part of its broader international rollout of the strategy.
In December 2022, Deutsche Bank partnered with NVIDIA to accelerate the use of artificial intelligence (AI) and machine learning (ML) in the financial services sector. The combination of Deutsche Bank's financial industry expertise and NVIDIA's AI and accelerated computing will speed up the development of a wide range of regulatory-compliant AI-powered services. The collaboration will aid Deutsche Bank's cloud transformation journey by, for example, using AI and machine learning to simplify and accelerate cloud migration decisions.
Later on, in January 2023, Deutsche Bank’s Blue Water Fintech Lab developed a robotic process automation platform for processing and matching data in several banks. The bank provides business clients in China with the first product of its Robotic Process Automation (RPA) laboratory. The direct service paradigm is used to deliver this service. Deutsche Bank is one of the first foreign banks to offer a process automation platform to Chinese customers.
Most recently, in February 2023, Deutsche Bank and Memento Blockchain announced the completion of Project DAMA proof of concept. The project addresses related to the launching or accessing of digital funds including high costs as well as time-consuming processes. With Project DAMA, asset managers and their existing transfer agents, fund administrators, and custodians can leverage a one-stop digital fund investment servicing platform that makes launching and administering digital funds easier.
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