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Deutsche Bank launches Accounts Receivable Manager for SEPA

Deutsche Bank announced last week the launch of Accounts Receivable Manager (ARM) for SEPA, a corporate cash management solution designed to help global organisations that manage high volumes of payments received via multiple channels to streamline and simplify the complexities of receivables management. Deutsche Bank developed ARM with PayPal, a leading global ecommerce company, to help manage their euro receivables across Europe using a single consistent reconciliation process, while also reducing administrative costs and increasing customer satisfaction. Deutsche Bank claims that ARM enables PayPal to use millions of IBANs (International Bank Account Numbers) for its customers, allowing fully-automated payer identification without the need to match existing client data, and improving auto-reconciliation rates for PayPal by up to 100%.

ARM for SEPA has three modules:

  • Administration module is a web-based application for set up and administration of mulit-currency virtual accounts with debit/credit posting, accounting and reporting; with self administration  on all parameters; real time access to open/close virtual accounts
  • Virtual accounts module providing 100% matching rates just for € accounts and SEPA payments which shares the virtual accounts (express as IBANS) with the client’s customers
  • Inquiry reporting module providing online queries using standard reporting formats per virtual account whilst the formats and delivery mechanisms for the physical bank account remain unchanged.

ARM will enable one collection account per legal entity with separate virtual accounts (and statements and online access) for each line of business, as figure below shows: 

Source & Copyright©2013 -  Deutsche Bank 

ARM is available in Germany, Netherlands and UK.

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