Deutsche Bank (Frankfurt) is moving to provide even more features for its corporate clients as it announces an alliance with European mobile payments provider Luup (London). According to Deutsche Bank, the two will team up to provide clients of the bank's global transaction banking (GTB) service with the ability to allow their consumer customers to make instant and secure payments and money transfers via mobile phone. The service will be available to clients in 80 countries in Europe, the Middle East and Asia.
According to Deutsche Bank, it becomes one of the first financial institutions to offer cross-border mobile payments to its banking and corporate clients. The bank said it selected Luup as its partner in this venture due to the company's track record around experience and compliance.
"Mobile technology moves on apace and we believe that now is the time to take a solution to the global market," said Daniel Marovitz, global head of products at Deutsche Bank's global transaction banking division, in a statement. "Investing in technology and focusing on making banking and payments easier for clients and their customers is at the core of what we do."
In related news, Deutsche Bank global transaction banking business hired Ron van Wezel as global product manager for its emerging payments streams. He joins from ABN AMRO's market infrastructures department where he oversaw developments in its payments and cards services.
In this new role, van Wezel will be responsible for Deutsche Bank's mobile and online payments services, and other emerging payment flows. He will also help develop the bank's approach to the convergence of urgent and bulk legacy payment products. In addition, van Wezel will drive alignment between GTB's core payments business and Deutsche Card Services, as well as between GTB and other key business units where there are payments-related opportunities.
van Wezel also serves as chairman of Mobey Forum, the cross-industry group for the development of mobile financial services. He will be based in Amsterdam and will report to Harold Young, global head of payment products, cash management, GTB.