Ping An Bank signs memorandum of understanding with Deutsche Bank

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Ping An Bank (PAB) has announced it has signed a memorandum of understanding with Deutsche Bank.

The memorandum of understanding will expand their cash management relationship as they will utilize Deutsche Bank’s US Dollar Clearing for Commercial and Treasury Payments Solution via its Autobahn App Market.

Mr. Hu Yuefei, Executive Vice President at Ping An Bank, said, “We are delighted to expand our long-standing relationship with Deutsche Bank especially in USD payment clearing for both commercial and treasury payments. We truly believe this will enable us to achieve higher efficiency when providing USD payment services to our corporate and retail clients.”

“We are pleased to provide a unique and convenient access point in the Autobahn App Market for PAB and their clients to extract more value from their USD cash flows,” said Nancy So, Asia Pacific Head of Cash Management for Financial Institutions Sales, Deutsche Bank. “Building on our existing relationship, PAB will continue to benefit from Deutsche Bank’s world-class USD clearing platform.”

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