Deutsche Bank has launched an electronic banking signature solution for Daimler’s treasury functions in Singapore with potential application in other markets in Asia.
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.
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.
Chintan Shah, APAC head of corporate cash management at Deutsche Bank, says: "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."
Kai Bartlmae, head of treasury operations in Asia-Pacific at Daimler, adds: “Deutsche Bank and Daimler Treasury's use of DocuSign is a major step in digitalizing our treasury processes. We intend to use this solution in other areas in the near future.”