AXA selects Deutsche Bank as a key partner to process mass payments and collections in Europe as well as to support its migration to SEPA
Deutsche Bank today announced its recent appointment as a pan-European cash management bank for AXA. Listed on the Euronext Paris stock exchange, AXA is one of the largest insurance companies in the world, making this a landmark cash management mandate for Deutsche Bank.
“We are pleased that our consultative approach over the last years has demonstrated Deutsche Bank's outstanding capabilities in the field of cash management in the French and European markets, ultimately leading to Deutsche Bank’s selection as AXA’s pan-European cash management provider. We are also proud that AXA relies on us to support their migration to the Single Euro Payments Area (SEPA), with a particular focus on SEPA Direct Debit” said Emmanuel de Rességuier, Head of Deutsche Bank Global Transaction Banking in France.
In its continued efforts to capitalize on scale and invest in technology, Deutsche Bank has cemented its number one position in European Cash Management, making the Bank an attractive partner for AXA.
“We selected Deutsche Bank because of its ongoing investment in its platform and its growing leadership in the payments area. The Bank’s cross-border capabilities and its integrated approach across businesses as well as regions were decisive in our choice. In addition, we have built a strong relationship with the team in Paris that is our entry point to Deutsche Bank,” stated Jean-Paul Duval, Treasury, AXA France.
“This milestone mandate with AXA supports the strength of our cash management reputation among leading global corporations. We are confident it will pave the way to other similar mandates in the European market,” said Werner Steinmueller, Head of Global Transaction Banking, Deutsche Bank and member of the Group Executive Committee.
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