FX4Cash uses channels such as SWIFT, on-line and host-to-host in more than 125 countries to perform cross-currency payments such as wire transfer, cheque and ACH transfers in over 160 countries.
Canara Bank is expected to improve its currency payable and receivable flows across the world and also automate the process of FX dealing and payments with Deutsche Bank’s system.
Canara Bank executive director V S Krishnakumar said: "We believe that the Bank’s FX4Cash solution will significantly enhance our payment services platform.
"This powerful tool enables fast and easy global payments, which will directly benefit our corporate and retail clients – especially our large portfolio of non-resident clients."
Deutsche Bank global transaction banking institutional cash Asia Pacific sales head Nancy So said: "We are delighted that Canara Bank has chosen FX4cash with its unparalleled combination of flexibility, speed and efficiency for global cross-currency payments.
"We look forward to partnering with them and building a deep relationship over the coming years."
Image: Deutsche Bank headquarters in Frankfurt, Germany. Photo: courtesy of Deutsche Bank.
