Deutsche Bank announced that it is implementing an electronic banking signature solution together with Daimler Treasury in Singapore with potential application in further markets in Asia for the company’s treasury functions.
Document and contract signing remains one of the most important and frequent processes between banks and its clients and, until today, has involved a high degree of manual processing. Leveraging DocuSign, an industry-recognized digital signature solution, Daimler will save costs and gain efficiencies by eliminating the need to send via physical documentation to Deutsche Bank.
Chintan Shah, APAC head of corporate cash management at Deutsche Bank, said, “With this digital signature solution, Daimler’s treasury function will be able to significantly reduce turnaround times for banking signatures from days to minutes while improving documentary risk control.”
Deutsche Bank has been Daimler’s long-term core transaction banking partner in Asia Pacific, providing cash management, documentary trade, and risk management solutions.
The Daimler Group is one of the biggest producers of premium cars and the world’s biggest commercial vehicle manufacturer with a global reach. The company provides financing, leasing, fleet management, insurance, and innovative mobility services.
Kai Bartlmae, Daimler’s head of treasury operations for Asia Pacific, called the solution a major step in digitalizing the company’s treasury processes. “We intend to use this solution in other areas in the near future,” he said.