Anglo-Eastern Pilots FX4Cash, Deutsche Bank’s New Cross-Border Multicurrency Payments Solution
08 July 2009
Barcelona – Deutsche Bank has 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."
