A FinTech initiative is launched that combines a global payment network with local tools for collection, transfer, and custody of funds. The project provides businesses access to local currency operations within global B2B payment corridors.
TransferMate, a provider of embedded B2B payment infrastructure, announced a strategic partnership with Deutsche Bank, Germany’s largest bank. The initiative will initially cover key markets in the Asia-Pacific (APAC) region, with potential for further scaling through Deutsche Bank’s global network.
Under the partnership, TransferMate will gain access to Deutsche Bank’s expanded infrastructure, enabling:
- cross-border settlements;
- local receipt of payments via local bank accounts;
- custody of funds within national financial systems.
As a provider of cross-border B2B payment solutions on an IaaS (Infrastructure-as-a-Service) model, TransferMate has a wide network for receiving local payments, expanding its capabilities in FinTech infrastructure. The company’s products are especially relevant for the education, finance, and e-commerce sectors, which require efficient and scalable payment solutions.
IaaS (Infrastructure-as-a-Service) is a cloud computing model in which the service provider offers clients remote access to digital infrastructure. In the context of B2B payments, IaaS means companies can use a ready-made cloud platform to integrate international payment solutions into their systems.
TransferMate CEO Gary Conroy emphasized that the partnership with Deutsche Bank is a significant milestone in the company’s global expansion. TransferMate Founder Terry Clune added that the collaboration will allow TransferMate’s partners to access an even greater number of national currencies.
Ole Matthiessen, Head of Cash Management and Head of CB APAC MEA at Deutsche Bank, noted that cooperation with TransferMate strengthens the implementation of the Global Hausbank strategy and allows the bank to scale its presence in the highly developed yet fragmented APAC markets.
In December 2024, Deutsche Bank supported crypto businesses in the Asia-Pacific region by taking on corporate banking services for crypto exchange Crypto.com in Singapore, Australia, and Hong Kong.
