Deutsche Bank, FinLync, Partner for Corporate Treasuries
Posted by Colin Lambert. Last updated: May 18, 2022
Deutsche Bank has announced a partnership with fintech FinLync to provide real-time data and analytics to corporate treasuries.
FinLync’s pre-built API integrations and SAP-embedded treasury applications will enable corporate treasury and finance teams to connect to Deutsche Bank’s API. The firm’s technology directly embeds up-to-the-moment bank data into any enterprise resource planning (ERP) platform or treasury management system (TMS), enabling plug-and-play access to Deutsche Bank’s suite of APIs.
The firms say other benefits include more-precise cash forecasts and improved working capital efficiency through one-click global cash position that can be refreshed as frequently as desired; real-time payment tracking from initiation to receipt; beneficiary account pre-validation; and accelerated automated reconciliation.
A recent survey by the Association of Corporate Treasurers in partnership with Deutsche Bank shows that API-enabled benefits such as “improve cash forecasting accuracy” and “increase automation” rank as top priorities among treasurers, the bank says, adding however, that ambitions are often yet to be transformed into reality as many corporates worry about the complexity of API integration across multiple banks, regions, and entities. The new partnership addresses this concern and will provide simple, fast, multi-bank connectivity, the firm state.
“Our integration with FinLync makes it much easier for corporates to adopt our banking APIs and shortcut the road to automated, real-time treasury,” says Kerstin Montiegel, global head client connectivity/digital client access channels at Deutsche Bank. “FinLync’s pre-built API integrations and SAP-native applications significantly reduce the complexity of building and maintaining individual API integrations with SAP and other ERPs for our clients.”