Deutsche Bank and TIS team up for multi bank services
Amid fierce competition for customer accounts, large banks are reinventing themselves as tech providers in order to reach customers that don’t have a direct banking relationship with them.
Global banking giant Deutsche Bank has entered into a strategic partnership with Treasury Intelligence Solutions (TIS) to develop and distribute multi-bank services for treasury & finance. The two will join together to develop and offer multi-bank services.
The first service to be offered highlights a pain point of the digitization wave. Fraud has come into the frame which many payment companies are addressing in their own way.
The press release noted that the focus of the partnership is on ‘new and innovative products & services combining the complementary capabilities and skills of an experienced payment platform provider with the expertise of a global corporate bank’ while in terms of fraud the two will develop an ‘innovative payment fraud prevention solution combining the excellence of TIS’ cloud platform with the long-established expertise of Deutsche Bank in fraud prevention’.
“Establishing client solutions that are beyond traditional financial services by leveraging Deutsche Bank’s expertise in global payment markets is a key focus area for us”, said Ole Matthiessen, Global Head of Cash Management at Deutsche Bank.
According to the press note, the solution developed under this partnership would help ‘improve the detection of potential fraud before the payment instruction even leaves a client’s system’.