Ping An Bank (PAB) and Deutsche Bank have signed a memorandum of understanding for further extending their cash management relationship by using Deutsche Bank’s US dollar (USD) clearing for commercial and treasury payments solution via its Autobahn App Market.
The Autobahn App Market will allowe PAB to access real-time information reporting services which, combined with liquidity and investment services, improves forecasting capabilities enabling PAB to maximize earnings from their liquidity flows. Deutsche Bank’s treasury clearing solution is designed to help PAB improve efficiency of intraday cash flows by providing services to control payment prioritization and manage complex payment arrangements.
Headquartered in Shenzhen, PAB is a listed commercial bank that provides comprehensive financial services to corporate and individual customers. It was formed after the merger of Shenzhen Development Bank, the first listed commercial bank in China that went public in April 1991, and the former Ping An Bank. PAB has a network of over 500 outlets in China and a representative office in Hong Kong.
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