GT Nexus Selects Deutsche Bank for Global Cash Management
05 March 2015 - 2:00AM
Business Wire
Deutsche Bank today announced its appointment as a global cash
management bank for GT Nexus, the world’s largest cloud-based
business network and execution platform for global trade and supply
chain management.
Deutsche Bank’s international cash management platform now
offers GT Nexus the ability to process payment flows in more than
eight currencies by taking advantage of the Bank’s branches in the
US, UK and Hong Kong. The solution also includes an innovative
Payable on Behalf Of (POBO) structure in which GT Nexus can
leverage the Bank’s payment architecture to drawdown on their
network members’ accounts held at third party banks. This
arrangement fully automates the supply chain transaction process
for buyers, driving cash management efficiencies for GT Nexus’
platform members while providing payment confidence, security and
visibility to suppliers.
“Our network spans nearly every industry vertical from all major
markets around the world,” said Sean Feeney, CEO of GT Nexus. “We
selected Deutsche Bank for their innovative approach and their
ability to facilitate global payments quickly, efficiently and
accurately for our customers.”
“Deutsche Bank’s cash management capabilities are perfectly
suited to meet the complex needs of global technology companies
like GT Nexus,” said Martin Runow, Head of Cash Management for
Corporates, Americas at Deutsche Bank. “GT Nexus and its members
will enjoy more efficient and transparent cross-border payment
flows as a result of this innovative solution.”
Deutsche Bank is pleased to offer award winning cash management
capabilities for corporates as well as financial supply chain
expertise. The Bank was recently ranked as a top three
international cash management provider for corporates in
Euromoney’s 2014 Cash Management Survey and the Number One
Financial Supply Chain Provider by Treasury Management
International.
About Deutsche Bank:
Deutsche Bank is a leading client-centric global universal bank
serving 28 million clients worldwide. Deutsche Bank provides
commercial and investment banking, retail banking, transaction
banking and asset and wealth management products and services to
corporations, governments, institutional investors, small and
medium-sized businesses, and private individuals. Deutsche Bank is
Germany’s leading bank, with a strong position in Europe and a
significant presence in the Americas and Asia Pacific.
About GT Nexus:
GT Nexus operates the world’s largest cloud-based business
network and execution platform for global trade and supply chain
management. Over 25,000 businesses across industry verticals,
including adidas Group, Caterpillar, Citi, Columbia Sportswear,
DHL, Electrolux, Levi Strauss & Co., Nestlé, Pfizer, and Sears
share GT Nexus as their standard, multi-enterprise collaboration
platform. This enables all network participants to operate against
a core, real-time and always on set of information across multiple
supply chain functions, allowing them to optimize the flow of
goods, funds and trade information, from the point of order through
final payment. For more information please visit
www.gtnexus.com.
This release contains forward-looking statements.
Forward-looking statements are statements that are not historical
facts; they include statements about our beliefs and expectations
and the assumptions underlying them. These statements are based on
plans, estimates and projections as they are currently available to
the management of Deutsche Bank. Forward-looking statements
therefore speak only as of the date they are made, and we undertake
no obligation to update publicly any of them in light of new
information or future events.
By their very nature, forward-looking statements involve risks
and uncertainties. A number of important factors could therefore
cause actual results to differ materially from those contained in
any forward-looking statement. Such factors include the conditions
in the financial markets in Germany, in Europe, in the United
States and elsewhere from which we derive a substantial portion of
our revenues and in which we hold a substantial portion of our
assets, the development of asset prices and market volatility,
potential defaults of borrowers or trading counterparties, the
implementation of our strategic initiatives, the reliability of our
risk management policies, procedures and methods, and other risks
referenced in our filings with the U.S. Securities and Exchange
Commission. Such factors are described in detail in our SEC Form
20-F of 20 March 2014 under the heading “Risk Factors”. Copies of
this document are readily available upon request or can be
downloaded from www.db.com/ir.
For further information:Deutsche Bank AGAri Cohen,
+1-212-250-2438Press & Media Relationsari.cohen@db.com
Deutsche Bank Aktiengese... (NYSE:DB)
Historical Stock Chart
From Apr 2024 to May 2024
Deutsche Bank Aktiengese... (NYSE:DB)
Historical Stock Chart
From May 2023 to May 2024