Indian Overseas Bank has signed a pact with Deutsche Bank for a closer relationship in cash management services. IOB will use Deutsche Bank’s global cross-currency payments solution — FX4Cash.
This will give IOB access to a full suite of solutions to support its global cross-currency flows. FX4Cash will enable the bank to gain efficiencies with a streamlined automated process for forex dealing and payments. The platform provides fast and reliable execution of payments made through leading client access channels such as SWIFT and the Internet in up to 125 local currencies via wire transfer, cheque and automated clearing house — across more than 160 countries.