Deutsche Bank, TIS join forces to offer multi-bank services

By Sunniva Kolostyak

Deutsche Bank has entered a strategic partnership with fellow German company Treasury Intelligence Solutions (TIS), a corporate payments provider, to develop and distribute multi-bank services for the treasury and finance sector.

The cooperation starts with what they call a ‘ground-breaking’ payment fraud prevention software solution for corporate customers. It combines TIS’ cloud platform with Deutsche’s fraud prevention expertise to address increasing demand from clients for effective solutions that are easy to use and can be deployed rapidly.

TIS offers a comprehensive, highly scalable Software-as-a-Service solution for company-wide payments and cash management. It is used by both large and medium-sized companies, including more than 25 per cent of German DAX companies.

By partnering, the companies will focus on building new and innovative products and services that combine their capabilities and skills as a payment platform provider and a global corporate bank.

Commenting on the announcement, Ole Matthiessen, Global Head of Cash Management at Deutsche Bank, stated that payment fraud is a major issue for CFOs and finance departments.

“Establishing client solutions that are beyond traditional financial services by leveraging Deutsche Bank’s expertise in global payment markets is a key focus area for us. Partnering with TIS and combining our strengths with an established provider of technology-enabled treasury services will provide our clients with a state-of-the-art, multi-bank-enabled risk management tool to mitigate an ever-increasing fraud risk,” he said.

The fraud service will extend beyond the payment data of individual customers, leveraging the knowledge of all corporates using the service, while the shared data remains anonymised. The solution will help improve the detection of potential fraud before the payment instruction even leaves a client’s system. Working closely with customers to better understand their challenges and pain points, the new service represents true co-creation.

Also commenting, Erol Bozak, co-founder and Chief Product Officer of TIS, said: “Harnessing both company and community data to solve key challenges, such as fraud prevention, together with Deutsche Bank is a big win for our customers.”

Joerg Wiemer, co-founder and Chief Strategy Officer of TIS, added: “TIS is excited to team up with a global powerhouse in transaction banking to develop multi-bank payment solutions.”