Deutsche Bank took another step forward in its regional roll out of db-direct by launching the internet banking cash management platform in Malaysia last week. The bank also announced the introduction of its business-to-business electronic bill presentment and payment product, db-eBills.
Deutsche Bank serves about 100 foreign multinationals and large local corporations in Malaysia many of which have been using the Windows version of db-direct since the early-1990s. The internet platform encompasses payments, collections, trade, foreign exchange and account information. db-eBills uses the internet for invoice and financial processing and offers reconciliation and reporting functions.
The migration of Malaysian customers from one system to the next will be handled in a phased approach, says Jimmy Yap, Asia-Pacific head of global cash management for corporates at Deutsche Bank. "As is the case with all our solutions, the system has to meet the requirements of the customers. That being said, db-direct internet will continually be enhanced and will eventually surpass the functionality of the current Windows-based system."
Commenting on the launch, the bank's regional head of product management, Tay Kok Keong, said: Our proprietary suite of browser-based products offer benefits to organizations that are looking to gain new efficiencies. They integrate seamlessly with the customer's account systems. These systems include SAP, Oracle Financials and others. "db-eBills can streamline and deliver operational efficiencies to clients' financial supply chain activities, resulting in improved working capital management."
Deutsche Bank began the regional roll-out of its internet services in 1997 and has covered all but one or two markets where it awaits regulatory approval.
