SimCorp and Deutsche Bank extend their collaboration in Asia Pacific

By renewing its collaboration with SimCorp, Deutsche Bank intends to keep offering its fund administration and accounting solutions to its users across the Asia Pacific region, utilising SimCorp One, an integrated investment management platform. Initially, the two organisations teamed in 2006 and, through the current move, SimCorp intends to support Deutsche Bank in its growth objectives in the region.

Deutsche Bank entered into several strategic agreements with industry participants to further advance its footprint and development strategy. Most recently, the financial institution teamed up with Paysafe to launch a system enabling cash withdrawals and deposits at 12,500 locations across Germany. The system leverages a digitally generated barcode via the bank’s mobile app, with the feature being planned for launch for Postbank customers in November 2024. However, Deutsche Bank clients are set to gain access to the solution in the second half of 2025.

Deutsche Bank’s expansion into Asia Pacific

By utilising SimCorp One, Deutsche Bank intends to optimise processes and increase scalability while also assisting its initiatives to refine offerings and launch new products and services to its clients. Representatives from SimCorp commented on the announcement, mentioning that, as each country located in the region has its regulatory environment and characteristics, the SimCorp One platform is set to support Deutsche Bank and other securities services providers in operating more efficiently across multiple markets with various requirements.

Furthermore, Deutsche Bank delivers a suite of services, including retail and private banking, corporate and transaction banking, lending, asset and wealth management, and specialised investment banking to a diverse client base that includes private individuals and large institutions. The Germany-based financial institution also recently introduced dbX as it focused on advancing the capabilities of its integrated correspondent banking ecosystem. Launching the new service was set to allow Deutsche Bank to offer financial institution clients access to new and augmented functionalities developed to leverage its leadership, investment, and global network. Initially, the bank intended to launch dbXflow, dbXconvert, and dbXtreausry, as well as the addition of dbXadvise.