Deutsche Bank has announced the launch of its cross-currency payments platform, FX4Cash, in Switzerland, making it available to Swiss corporates for the first time. The FX4Cash platform combines the live FX trading capabilities of Deutsche Bank's Markets division with the payment processing systems of the Bank's Global Transaction Banking division, giving clients transparent, robust and highly efficient processing of cross-currency payments.
FX4Cash is already used by hundreds of top-tier corporate clients in Europe, Asia and the Americas to execute cross-currency payments in over 125 currencies. It is one of Deutsche Bank's fastest growing cash management products, with 2010 transaction
volumes nearly double those of 2009.
Martin Runow, Deutsche Bank's Head of Cash Management for Corporates for EMEA and country head for Switzerland, said, "We believe our Swiss clients will benefit greatly from having access to our integrated FX and Payments platform, enhancing their handling of cross-currency payment flows. The take up has been tremendous in countries where FX4Cash has already launched, and we hope to see similar enthusiasm here in Switzerland".
Matthew Richardson, Head of FX4Cash Product Sales at Deutsche Bank said, "With the huge range of currencies covered and the transparency and control it offers over FX rates, FX4Cash is a powerful and valuable tool for any organisation with international