Deutsche Bank has launched dbX, its next- generation, fully integrated correspondent banking solutions.

The offering, under its institutional cash and trade business, provides access to new and enhanced functionalities that will allow financial institution ( FI ) clients to better leverage the bank’s thought leadership, investment and extensive global network.

The first wave of the launch focuses on enhancing Deutsche Bank’s commercial payment ( dbXflow ), transactional FX ( dbXconvert ) and treasury ( dbXtreasury ) solutions, with the addition of dbXadvise, which combines individual advisory capabilities with extensive but flexible information and data tools. Trade finance functionalities will be launched in a second phase.

The dbXflow offers a complete range of cross-border commercial payment services with significantly enhanced bespoke pricing capabilities. New elements have been incorporated, including a low-value full-principal payment proposition offered at extremely competitive rates. The solution allows clients to optimize their transactional flows at the best possible price, without waiting for mass adoption within the industry. dbXflow will be available for euro, US dollar and British pound payments.

Complementing Deutsche Bank’s commercial payments solutions, dbXconvert offers an enhanced range of transactional FX services. In addition to the bank’s established multi-currency services and FX4Cash, its global cross-currency platform covering over 130 currencies, new functionalities are being added to the platform. The FX4Cash engine will be upgraded to allow FI clients to fund Deutsche Bank in their own currency without  the need for a Deutsche Bank account in this currency, and allow them to convert into another currency.

In a second step, the bank will introduce its auto-convert solution to automatically convert commercial cross-border payments to the local currency of the beneficiary for specific corridors.

Meanwhile, dbXtreasury expands the current liquidity offering, focusing on intraday solutions for managing FI treasury needs. New functionalities in the form of intraday liquidity optimization with the use of advanced data and analytics will be introduced to help clients reduce liquidity usage and improve payments functioning.

Deutsche Bank’s dbXadvise services now form an integral part of its cash and trade offering. Advisory services range from supporting clients with the complexities of conducting business in challenging markets, through to offering self-service tools, data provision on liquidity positions and flexible API reporting capabilities.

“Correspondent banking remains a core strategic business for Deutsche Bank,” says Patricia Sullivan, global head of institutional cash management at Deutsche Bank. “Our investments in dbX reaffirm our commitment to meeting both the current and future needs of our clients. Dedicated to our clients’ lasting success, we continue to innovate and invest in solutions that drive their growth and efficiency.”