The partnership will see Deutsche integrate TIS technology for treasury and finance. Germany’s Deutsche Bank is teaming up with Treasury Intelligence Solutions (TIS) to modernize its corporate banking offering and will first begin with anti-fraud solutions. In the release, Anchal Tiwari, head of Product at Bolero International, said, “Our vision of Galileo TPaaS is to enable banks to offer an elevated customer experience to the end-user at a fraction of the cost that banks incur in traditional trade portal solutions.”ĭeutsche Bank, TIS Team on Corporate Services For banks themselves, deploying the as-a-Service offering accelerates efforts to modernize trade finance offerings without the cost of developing and deploying proprietary solutions. Galileo enables corporate clients to manage transactions across banking partners on a single interface. The company announced the debut of its Trade Finance Platform-as-a-Service (TPaaS), Galileo TPaaS for Banks, a white-labeled platform that allows banks to offer their own corporate customers a digital-first trade finance solution. As it turns out, the XaaS model can work to enhance banks’ own offerings, too, and trade finance FinTech Bolero International is deploying the strategy. The Banking-as-a-Service wave continues to grow, allowing banks to expand their presence and drive new revenue streams by integrating their infrastructure and capabilities into the platforms of non-banks. This week’s examination of bank-FinTech collaborations finds one FinTech embracing the Anything-as-a-Service (XaaS) model for trade finance, while Deutsche Bank, Community Bank and others tap their FinTech friends to accelerate modernization.īolero Invests in Trade Finance Portal-as-a-Service From multinational banks to community financial institutions (FIs), teaming up with external help can be a valuable strategy to strengthening product offerings.
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