Deutsche Bank Aims At Real-Time Treasury With FinLync

Through cooperation with a US fintech FinLync, German banking giant Deutsche Bank wants to make it easier for treasurers to get a real-time overview of important account information. They should no longer have to worry about individual API connections. The new cooperation will make it easier for corporate customers to access all vital account information in real-time.

The US fintech FinLync offers products in corporate finance and liquidity management with pre-integrated APIs and native SAP applications. Their solutions are designed to enable treasurers to quickly and easily connect to Deutsche Bank’s API offerings. FinLync transfers real-time bank data directly into a company’s respective ERP platform and treasury management system, giving treasurers plug-and-play access to Deutsche Bank’s API offerings.

This would eliminate the need for corporate clients to program and maintain individual API connections. “Through FinLync’s application, our clients can leverage our banking APIs with little effort. This clears the way for automated real-time liquidity management,” argues Kerstin Montiegel, Head of Client Connectivity at Deutsche Bank.

Real-time data is expected to help treasurers achieve more accurate cash forecasts and improved working capital management, for example, by allowing them to instantly retrieve cash positions worldwide or validate a beneficiary’s account in advance. Further, he said that real-time payment tracking from initiation to receipt of payment is possible, as is accelerated automatic reconciliation of transactions and receivables.

The timing of the partnership is good, as demand for interfaces is growing. For example, a recent survey by the Association of Corporate Treasurers in collaboration with Deutsche Bank shows that API-based benefits such as “more accurate liquidity forecasting” and “more automation” are the top priorities for treasurers.

However, most projects in this area are still in the early stages because many companies fear the complexity of API integration across multiple banks, regions, and entities. The new collaboration between Deutsche Bank and FinLync aims to remedy this via simple, fast multi-bank connectivity. Both parties now plan to extend Deutsche Bank’s offering of pre-integrated APIs to additional use cases.


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