06 November 2017
Reporter: Stephanie Palmer-Derrien

Deutsche Bank gpi service expands to euro payments

Deutsche Bank has launched its global payments initiative (gpi) service for euro payments, promising to process payments between continents within 30 minutes.

Championed by Swift, the gpi was launched in conjunction with the banking community, including Deutsche Bank, to increase the speed and efficiency of cross-border payments.

The system allows for tracking of payments and same-day use of funds for corporate clients, and addresses the lack of transparency and slowness of traditional payments processing.

Deutsche Bank introduced gpi services for the US dollar in October, and is one of the first banks to go live via an application programming interface.

Michael Spiegel, head of cash management and head of global transaction banking for Germany at Deutsche Bank called the gpi “the new blueprint in international payments addressing the real needs of clients globally”.

He added: “Initial feedback has shown that many transactions between continents are processed end-to-end and with full tracking capabilities in less than 30 minutes.”

More news
The latest news from Asset Servicing Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
Societe Generale boosts ESG reporting
22 November 2017 | Paris | Reporter: Jenna Lomax
The new solution allows institutional investors and asset managers to rate their investments against ESG indicators
Tobam launches bitcoin mutual fund
22 November 2017 | Paris | Reporter: Jenna Lomax
The fund will allow investors access to cryptocurrency to benefit from Tobam’s research and IT systems to track the value of investing in bitcoin
Strate adopts Nasdaq blockchain solution for voting
22 November 2017 | Stockholm | Reporter: Becky Butcher
Nasdaq is set to provide its blockchain electronic voting solution to South African Central Securities Depository (CSD) Strate
UniCredit launches instant payment solution
22 November 2017 | Milan | Reporter: Becky Butcher
UniCredit has launched its cross-border instant payments solution in Italy and Germany
Hedge fund industry reaches new highs in Q3
22 November 2017 | London | Reporter: Zsuzsa Szabo
The hedge fund industry has recorded strong performance in Q3 2017, after stumbling in 2016, according to Preqin
SSGA hires Nordic head of SPDR ETFs
21 November 2017 | London | Reporter: Theo Andrew
Based in London, Marcus Miholich will be responsible for evaluating the investment objectives of SSGA’s Nordic client base. He will report to Rory Tobin, global co-head of SPDR ETFs at SSGA
EU Commission opens consultation of SFTR TR fees
21 November 2017 | Paris | Reporter: Drew Nicol
UK-based trade repositories may be forced to shoulder additional third-party recognition fees to operate under EU regulatory frameworks post-Brexit, according to proposed EU Commission rules
More news