The newly electronified offering is available to clients anywhere in the world and allows the bank and its clients to realize further efficiencies as there is no longer a need to physically transport paper checks.
Utilizing this enhanced check processing platform, clients have various options for their US dollar check deposits. They can use remote capture by scanning items themselves, or leave their existing process unchanged but send physical items to Deutsche Bank’s hub in Eschborn, Germany or any of its new Asian hubs, for capture by the Bank’s staff and electronic transmission to New York.
Andrew England, head of cash management, global transaction banking at Deutsche Bank, said: Checks remain a constant in the changing treasury landscape and it is up to the leading treasury providers to come up with increasingly efficient ways to improve the processing of checks. We are looking to electronify this process and consolidate transport and processing on a more global scale. In developing a check processing solution targeted to handle all forms of payment in the age of SEPA, and by creating new hubs for remote capture in regions such as Asia which are known for greater check usage, Deutsche Bank is taking the complexity out of check processing for our clients.
