Deutsche Bank has announced a new partnership with B2B payments infrastructure as a service (IaaS) company TransferMate.

The partnership said the move will see TransferMate provide businesses with in-country collections, cross-border payments, and the ability to store funds locally across various countries.

In its initial phase, the partnership will facilitate businesses across several APAC markets with the aim of expanding into other regions through Deutsche Bank’s extensive global network.

The move will allow TransferMate to immediately expand its local in-country collection, payments and stored value capabilities.

The company said that its partners within key industry sectors, including education, financial institutions and e-commerce, are set to benefit from the cooperation.

"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 & head of CB 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."

---