To commemorate the start of this important initiative, Deutsche Bank will make its first single Euro payments area (SEPA) payments to charities within the existing 15 Eurozone countries, donating each a symbolic amount of E2801 – representing the date of the launch.
Werner Steinmueller, head of global transaction banking at Deutsche Bank, said: Our strategy is clear: financial institution clients will benefit from our SEPA Connect model providing them with connection to the clearing infrastructure as indirect participants. This allows them to receive and send SEPA transactions with minimal investment in their existing infrastructure. For corporates our objective is to make the long term opportunities of SEPA an immediate reality for clients who benefit from lower transaction costs and a smooth migration.
