ARM is a fully-automated payer identification solution that enables autoreconciliation of incoming SEPA credit transfers, while significantly reducing the need to maintain multiple bank accounts for separate lines of businesses.
The solution enables PayPal to use millions of IBANs (International Bank Account Numbers) for its customers, allowing fully-automated payer identification without the need to match existing client data, and improving auto-reconciliation rates for PayPal by up to 100%.
Arthur Brieske, Global Head of Commercialisation at Deutsche Bank said, “This strategic, SEPA-ready solution for PayPal demonstrates the significance of our transaction banking capabilities, as well as our ability to create client-centric solutions for complex challenges. Our continued investment in technology and commitment to SEPA allows Deutsche Bank to offer innovative solutions that are attractive to global companies such as PayPal.”
Katja Lehr, Senior Manager for Global Core Payments at PayPal, said: “Every day we receive payments with incomplete or inconsistent payment information, which hampers our ability to automate allocation and reconciliation. While some payments can be reconciled through a manual process, others have to be returned. Because this is an unacceptable user experience, we connected with Deutsche Bank, a trusted partner we have been working with for many years, to develop the Accounts Receivable Manager.” Lehr adds, “As a global organisation, it is important to us to have a single solution which works throughout Europe, while also providing the look and feel of a local solution to our users.”
For further information, please call:
Deutsche Bank AG
Press & Media Relations
Phone: +44 (0) 207 547 1605
About Global Transaction Banking
Global Transaction Banking provides commercial banking products and services for both corporates and financial institutions worldwide, including domestic and cross-border payments, cash management, risk mitigation and international trade finance as well as trust, agency, depositary, custody and related services.
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 2012 under the heading “Risk Factors.” Copies of this document are readily available upon request or can be downloaded from www.deutsche-bank.com/ir.