TransferMate Partners with Deutsche Bank for Global Reach
TransferMate has entered into a strategic partnership with Deutsche Bank to expand its cross-border payment capabilities.
The collaboration will enable TransferMate to offer in-country collections, cross-border payments, and local fund storage services across multiple jurisdictions through Deutsche Bank's global network.
The partnership addresses demand for embedded payment solutions, where financial services are integrated directly into business platforms rather than requiring separate banking relationships.
APAC expansion takes priority
The initial phase will focus on several Asia-Pacific markets, with plans to extend into other regions as the partnership develops.
Deutsche Bank's presence across APAC provides TransferMate with banking relationships that would otherwise require time to establish independently.
“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,” says Ole Matthiessen, Head of Cash Management & Head of CB APAC MEA at Deutsche Bank.
Ole adds that the partnership “showcases the strength of our offering, aligning seamlessly with our Global Hausbank strategy”.
The Global Hausbank strategy positions Deutsche Bank as a primary banking partner for multinational corporations across multiple markets.
Ole says the collaboration "will drive TransferMate's growth and improve their operational efficiencies through our tailored solutions."
Industry sectors targeted
The partnership will serve partners in education, financial institutions, and e-commerce sectors.
The Deutsche Bank collaboration expands TransferMate's capability by providing access to local banking infrastructure in markets where the company previously used different banking arrangements.
Gary Conroy, CEO at TransferMate, describes the collaboration as “another significant milestone as we continue to grow our global footprint and be the embedded B2B partner of choice”.
Conroy says the partnership “further strengthens our reach, our capabilities, and the value we bring to our partners and their clients”.
Network expansion
The partnership enables TransferMate to expand its local in-country collection, payments and stored value capabilities across Deutsche Bank's network.
Terry Clune, Founder of TransferMate, says his company has built what he characterises as "the world's largest fintech payments network."
Terry adds that “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 collaboration represents another example of partnerships between traditional banks and fintech companies to serve business customers requiring multi-currency payment processing across international markets.
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