Deutsche Bank has set up a host to host connectivity with Bank of China, becoming the first foreign bank in China to establish such a facility. This is part of the bank’s project to deliver international cash management (ICM) services to corporate clients. The two banks have implemented an interbank host-to-host platform with the first customer – Bosch China – already on-board. The two banks had developed the solution together. Using the platform, the customers can make domestic and international payments in local currency (RMB) as well as foreign ones, and make various transaction and account balance enquiries – all on one internet banking platform. The two banks can also exchange messages in an agreed format, thus offering a better solution to its corporate clients that the standard partner banking arrangement based on service level agreements (SLAs).
