Banque Internationale à Luxembourg signs MOU with Deutsche Bank

BIL will utilize Deutsche Bank’s Autobahn App Market.

In a release, Banque Internationale à Luxembourg and Deutsche Bank announced the signing of a Memorandum of Understanding, whereby BIL will utilize Deutsche Bank’s Autobahn App Market, the first App-based electronic offering for clients in the financial services industry.

This one-stop solution will allow BIL to connect to Deutsche Bank and its broad range of electronic products and services via a single access point. With more than 150 Apps, the Autobahn App Market not only provides access to Deutsche Bank’s electronic transaction banking services, but also to the Bank’s  award-winning research, analytics and pricing tools that support daily decision-making processes.

BIL has selected Deutsche Bank because of the Bank’s unique approach to delivering services to its clients through the Autobahn App Market as well as the sophisticated functionalities of the Liquidity Manager App which allows them to access and manage daily liquidity analysis, planning and management processes in one convenient location.

In addition, the App improves the accuracy of local and worldwide forecasting, enhances the transparency into branch account positions and centralises control of liquidity management through shared views and workflows.

John Ball, Global Head of Cash Management for Financial Institutions in Global Transaction Banking at Deutsche Bank, said, “Deutsche Bank is pleased to expand its cash management partnership with BIL. The Liquidity Manager App is just one of many Apps in the Autobahn App  Market that supports our clients to track performance and mitigate risk while streamlining daily workflows. We will continue to invest in tools and products that allow our financial institution  clients to monitor and manage their payments, account balances and liquidity positions.”

Jean-Marc Steines, Head of Financial Markets, BIL, said, “As a leading Luxembourg-based bank it is important to us that we leverage forward-looking solutions that keep up with today’s markets. By utilising Deutsche Bank’s state-of-the-art Autobahn App Market we can benefit from interconnectivity to multiple services provided by Deutsche Bank’s App Market offering, which not only allows us to manage more efficiently our liquidity worldwide, but also gives us access to tools such as the Research Viewer and Commentary App so that we can make the right decisions at the right times.”