Deutsche Bank launches payer ID solution

Mumbai, Sep 25 (UNI) Deutsche Bank today announced the launch of payer ID solution - an electronic collection facility, through its extended cash management solution.

The facility will enable corporates to identify payment parties who have made electronic payments to them without the need to maintain multiple bank accounts, the bank stated.

The module also helps corporates to meet the reconciliation problem of payer identity certainty and thus effectively use the various electronic settlement systems available today.

UNI