Deutsche Bank and Indian Overseas Bank announced the signing of a Memorandum of Understanding (MOU) to establish a closer relationship in cash management services. Under the terms of this MOU, Indian Overseas Bank will use Deutsche Bank's global cross-currency payments solution, FX4Cash. By using Deutsche Bank's FX4Cash, Indian Overseas Bank will have access to a full suite of solutions to support its global cross-currency payable and receivable flows.

FX4Cash will enable Indian Overseas Bank to gain efficiencies through a streamlined automated process for FX dealing and payments. The platform provides fast and reliable execution of payments made through client access channels including SWIFT, the internet, host-to-host and Eurogiro, in up to 125 local currencies via wire transfer, cheque and ACH - across more than 160 countries. Being fully integrated with Deutsche Bank's electronic banking platform, Indian Overseas Bank will be able to initiate real-time trades on FX4Cash with competitive FX rates, thereby providing additional efficiency and flexibility.

FX4Cash combines Deutsche Bank's number one market share in global foreign exchange with its ranking in cash management to provide global cross-currency payment solutions to financial institutions and corporates.