TransferMate, a provider of embedded B2B payments infrastructure as a service (IaaS) based in Ireland, has announced a strategic partnership with Deutsche Bank.
The long-term collaboration will see TransferMate work with Deutsche Bank across multiple countries, allowing the company to offer in-country collections, cross-border payments, and local fund storage.
With this partnership, TransferMate expands its existing infrastructure, which it says now includes the most extensive local collection capabilities among B2B cross-border payments providers.
“The strategic collaboration between TransferMate and Deutsche Bank underscores the immense potential of fintech-bank partnerships in accessing and scaling global markets, particularly navigating the high-growth yet diverse Asia Pacific landscape,”
said Ole Matthiessen, Head of Cash Management and Head of Corporate Bank APAC MEA at Deutsche Bank.
“This showcases the strength of our offering, aligning seamlessly with our Global Hausbank strategy. We look forward to this journey together, which will drive TransferMate’s growth and improve their operational efficiencies through our tailored solutions.”
Initially, the partnership will focus on several Asia-Pacific markets, with plans to expand further using Deutsche Bank’s global reach.
The collaboration is expected to support businesses in sectors such as education, financial services, and e-commerce.
Commenting on the development, Gary Conroy, CEO of TransferMate, said:
“Our collaboration with Deutsche Bank is another significant milestone as we continue to grow our global footprint and be the embedded B2B partner of choice. This partnership further strengthens our reach, our capabilities, and the value we bring to our partners and their clients.”
TransferMate and Deutsche Bank will present their partnership at Money20/20 Europe in Amsterdam from 3 to 5 June, where TransferMate will be exhibiting at booth 1F160.
Featured image credit: Edited by Fintech News Switzerland, based on image by EyeEm via Freepik
