CITIC Bank is to use FX4Cash, Deutsche Bank’s global cross-currency payments solution as part of the bank’s extended range of wholesale payment services to its corporate clients.

In 2008, China CITIC Bank was the first financial institution in China to sign up for Deutsche Bank’s FX4Cash to serve its retail clients in Asia. Both parties will now extend FX4Cash as a value-added service to China CITIC Bank’s corporate client base.

FX4Cash combines Deutsche Bank’s number one market share in global foreign exchange (Euromoney Global FX survey 2011) with its leading ranking in cash management to provide global cross-currency payment solutions for financial institutions and corporates. Using FX4Cash, clients obtain seamless access via SWIFT, internet and host-to-host channels for clients to make cross currency payments from one of 20 funding currencies to up to 125 local currencies – via wire, check and ACH – across more than 160 countries.