Mumbai, Dec 01: Deutsche Bank has launched an end-to-end payment and collection solution for corporates using "Db-Ebills" and has begun implementation of this global cash management system in a multinational here. "The bank has already bagged a contract from a multinational with a large manufacturing business in India", Deutsche Bank AG, India head of global cash management Kaushik Shaparia told newspersons here today.
He said another two companies were also interested for this product. However, he declined to name any of these entities.
This product, offers a full solution for the collection value chain. Customers are guaranteed incoming cash flows while their dealers have alternative recourse during temporary shortfalls, he said.
"Db-Ebills" leverages the internet to deliver complete solutions for invoice and financial processing as well as for reconciliation and reporting on these procedures between business partners, he added.
Deutsche bank's Asia Pacific head for global cash management Jimmy Yap said India has been among the two contributors for this business in this sector.
Shaparia said the bank also has tied-up with 15 domestic banks for payments and collections and currently it recorded 40 million transactions on an annualised basis.
Bureau Report