Yonyou signs agreement with Deutsche Bank to support Chinese firms

Deutsche Bank has partnered with business services platform Yonyou to help Chinese financial services companies expand globally.

The partnership aims to set up a new global financial services model with global treasury management (GTM) to growth the globalisation strategies of Chinese companies.

Under the agreement, the partnership will connect Yonyou’s treasury management system with Deutsche Bank’s financial system to enable data access.

The bank said the partnership aims to expand the market ecosystem by combining the strengths of both parties.

Deutsche Bank added that the collaboration will help businesses optimise their financial resources, reduce costs and enhance risk controls.

The partnership aims to provide efficient payment services, both in China and across borders for Chinese firms expanding overseas.

“By combining our strengths, both parties will leverage their expertise to drive innovation and deliver comprehensive international financial services to Chinese enterprises,” said Leo Yin, president of Deutsche Bank China. “Supporting Chinese companies’ global growth ambitions is one of Deutsche Bank’s core missions, and we are eager to contribute to this important journey.”