(MENAFN- Market Press Release)
Deutsche Bank and Treasury Intelligence Solutions (TIS) announced that they are entering a strategic partnership to develop and distribute multi-bank services for Treasury & Finance.
•The focus of the cooperation 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.
•The first area of cooperation is an innovative payment fraud prevention solution combining the excellence of TIS' cloud platform with the long-established expertise of Deutsche Bank in fraud prevention.
•Payment fraud is a major issue for CFOs and finance departments. Both parties see increasing demand from clients for effective solutions that are easy to use and can be deployed rapidly.
•The software service will extend beyond the payment data of individual customers, leveraging the knowledge of all corporates using the service, while the shared data remains anonymized. The solution will help improve the detection of potential fraud before the payment instruction even leaves a client's system. Working closely with customers to better understand their challenges and pain points, the new service represents true co-creation.
'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. Partnering with TIS and combining our strengths with an established provider of technology-enabled treasury services will provide our clients with a state-of-the-art, multi-bank-enabled risk management tool to mitigate an ever increasing fraud risk', said Ole Matthiessen, Global Head of Cash Management at Deutsche Bank.
'Harnessing both company and community data to solve key challenges, such as fraud prevention, together with Deutsche Bank is a big win for our customers,' said Erol Bozak, co-founder and Chief Product Officer of TIS. 'TIS is excited to team up with a global powerhouse in transaction banking to develop multi-bank payment solutions,' added Joerg Wiemer, co-founder and Chief Strategy Officer of TIS.
About Deutsche Bank
Deutsche Bank provides retail and private banking, corporate and transaction banking, lending, asset and wealth management products and services as well as focused investment banking to private individuals, small and medium-sized companies, corporations, governments and institutional investors. Deutsche Bank is the leading bank in Germany with strong European roots and a global network.
Media contact at Deutsche Bank:
Heinrich Froemsdorf
+49 69 910-47680
About TIS
TIS (Treasury Intelligence Solutions GmbH), founded in Walldorf, Germany in 2010, is a global leader in managing corporate payments. The Financial Times named TIS one of 'Europe's Fastest Growing Companies' in 2019, 2020 and 2021. Offered as Software-as-a-Service (SaaS), the TIS solution is a comprehensive, highly-scalable, cloud platform for company-wide payments and cash management. The TIS solution has been successfully used for many years in both large and medium-sized companies, including Adecco Group, Hugo Boss, Fresenius, Fugro, Lanxess, OSRAM and QIAGEN. More than 25% of German DAX companies are already TIS customers.
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