TransferMate, Deutsche Bank partner to scale B2B cross-border payments

By Gloria Methri

TransferMate, an expert in embedded B2B payments, has partnered with Deutsche Bank to enhance its local collections, cross-border payments, and stored value capabilities across multiple international markets.

The collaboration marks a significant step in expanding TransferMate’s embedded infrastructure-as-a-service (IaaS) model through Deutsche Bank’s global reach, initially targeting high-growth Asia-Pacific (APAC) markets with plans to extend further.

The partnership enables TransferMate to utilise Deutsche Bank’s banking network, providing in-country collection accounts, streamlining cross-border transactions, and holding funds locally, thereby enhancing operational agility for its enterprise clients.

According to Ole Matthiessen, Head of Cash Management & Head of Corporate Bank APAC MEA at Deutsche Bank, “The strategic collaboration underscores the immense potential of FinTech-bank partnerships in accessing and scaling global markets, particularly navigating the high-growth yet diverse Asia Pacific landscape. 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 its operational efficiencies through our tailored solutions.”

By expanding its local footprint through Deutsche Bank’s infrastructure, TransferMate now claims the broadest in-country collection capabilities of any B2B cross-border payment provider. This enhancement is expected to benefit a wide range of partners across various sectors, including education, financial services, and e-commerce.

Gary Conroy, CEO of TransferMate, highlighted the impact of the collaboration, “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.”

Terry Clune, Founder of TransferMate, added, “We are proud to have built the world’s largest fintech payments network. With Deutsche Bank coming on board, we’re providing our global partners with access to an even greater pool of currencies to help drive their business forwards.”

The move reflects a broader trend of banks and FinTechs collaborating to meet the growing demand for seamless, regulated, and locally compliant global payment solutions, particularly as businesses seek more efficient ways to operate across borders.