#USA #New York #Payment Intelligence #Deutsche Bank #iPiD

Deutsche Bank and IPID Form Strategic Partnership

In a significant move to enhance the efficiency of global payment systems, Deutsche Bank and IPID have officially announced their strategic partnership. This collaboration aims to introduce a comprehensive suite of solutions designed to improve decision-making processes surrounding payments.

As global payments become increasingly rapid, complex, and fragmented, financial institutions are tasked with making more informed decisions before initiating any transfers of funds. This is crucial for several reasons, including minimizing costs, enhancing customer experience, optimizing payment routing, combating fraud, and complying with growing regulatory requirements.

The Role of IPID

IPID specializes in providing intelligent decision-making support for payments by integrating various signals related to verification, fraud detection, compliance, and optimization. This will empower financial institutions to make better-informed payment decisions and ensure more secure fund transfers.

Building on Deutsche Bank's early adoption of IPID's fraud prevention solutions, this partnership will see an expansion of IPID's capabilities for intelligent decision-making incorporated into Deutsche Bank's payment activities. Both organizations are also set to collaborate on developing new functionalities aimed at enhancing payment security within an evolving payment ecosystem.

According to Damien Dugauquier, co-founder and CEO of IPID, "Establishing trust and certainty in every payment decision is just the beginning. Decision intelligence is where the industry is heading, providing banks with live signals of trust and certainty rather than just static checks. The implementation of this additional layer by Deutsche Bank is a clear signal of the direction the global payment infrastructure is taking."

Advantages for Deutsche Bank Customers

For Deutsche Bank customers, this partnership is expected to lead to faster payment processing, improved fraud detection, more efficient payment routing, and greater assurances that funds reach their intended beneficiaries.

Rachel Whelan, Head of Corporate Cash Management for APAC and Global Head of Payments and Transactional FX Product Management at Deutsche Bank, stated, "As global payment volumes continue to rise and transactions increasingly occur in real-time, gaining better insights before sending a payment becomes essential. By combining Deutsche Bank's extensive expertise in payments with IPID's intelligent decision-making capabilities, we can aid customers in identifying risks sooner, reducing unnecessary delays in payments, and facilitating more efficient money transfers."

Understanding IPID

IPID provides decision intelligence for banks, payment service providers (PSPs), platforms, and other entities involved in the movement of money. Throughout the payment lifecycle, IPID assists in verifying beneficiaries, assessing fraud risk, ensuring compliance with legal obligations, evaluating risks, monetizing payments, and enriching payment data. These offerings lead to enhanced certainty, control, and security while also reducing fraud, lowering operational costs, and improving the overall customer experience.

About Deutsche Bank

Deutsche Bank is a leading global bank offering a wide array of products and services, including retail banking, private banking, corporate banking, investment banking, asset management, and specialized investment services to individuals, businesses, and institutions. As Germany's largest bank with a strong European base and a global reach, Deutsche Bank continues to position itself as a key player in the financial sector.