Awards for excellence - Deutsche Bank
The world’s best bank at cash management and payments
Deutsche Bank has been progressing in leaps and bounds in cash management in the past three years, gaining stronger and stronger responses from customer surveys, particularly in Europe - where it's the number one euro clearer with a market share of 28% in cross-border payments - but also increasingly in Asia and the US.
Recent high-profile mandates include being appointed by ABB for pan-European payments covering 16 countries, from General Motors and Deutsche Telekom for pan-European cash management. It has also won pan-Asian cash management mandates from KLM Royal Dutch Airline and from Bloomberg. And it has a growing number of US assignments mainly from financial clients.
For the moment it may still lag in the US corporate market, but there is a definite plan in place to fix this. Meanwhile what distinguishes Deutsche from other leading global banks, such as Citigroup and JPMorgan, is that the bank aims to reach a much broader range of customers including many more middle-size corporates and financial institutions.
"We have a large target market," says Andrew England, head of product management at Deutsche Bank's global cash management. "While other global banks might look to the top end of the corporate market, we'll go all the way down to middle-tier companies."