Deutsche Bank, Yonyou ink MOU to enhance treasury management services

They aim to support the globalization strategies of Chinese enterprises.

Deutsche Bank (China) and Yonyou Network Technology have inked a memorandum of understanding (MOU) to establish a new global financial services model with Global Treasury Management (GTM) at its core, with the goal of supporting the globalization strategies of Chinese enterprises.

The two parties aim to deliver efficient domestic and cross-border payment solutions, Deutsche Bank said in a press release.

Under the MOU, Yongyou’s treasury management system will be connected to Deutsche Bank’s financial system to enable data access and instruction transmission. This is expected to help enterprises optimize financial resources, reduce cost and enhance risk control.

The two parties will leverage Deutsche Bank’s international network and platform to streamline financial management processes and enhance the global cash operations of Chinese enterprises expanding overseas.  

In addition to GTM, Deutsche Bank and Yonyou will work to develop financial solutions to meet corporate clients’ diverse needs, foster financial technology advancement, and empower cross-border finance.

The signing ceremony was attended by Leo Yin, President of Deutsche Bank China and Huang Chenhong, President of Yonyou.  

Yonyou is a provider of enterprise software and intelligent services in China, delivering digital solutions through its Business Innovation Platform (Yonyou BIP).