Deutsche Bank Integrates MyStandards Services Into App

Starting in November, Deutsche Bank will integrate SWIFT’s MyStandards products into its Autobahn App market. This move makes the bank the first in the industry to offer the service that will allow clients to easily access and process MyStandards thorough this new channel, according to an article by Cash & Treasury Management File.

“These new facilities will, significantly streamline and simplify the client´s process of receiving structured and consistent documentation for financial messages,” Davoid Watson, Head of GTB client access products said in the Cash & Treasury Management File article.

The initial announcement about the integration came on Oct. 1 from SWIFT, which said the move would be available by fourth-quarter of 2014. By incorporating MyStandards into the bank’s Autobahn App Market, clients can have easy and direct access to MyStandards though a centralized online channel. This change allows Deutsche Bank to have full access to the bank’s documentation of payment formats. In the initial release earlier this month, David Watson, global head of client access of the company, said cooperating with providers like SWIFT “allows us to further tailor our MyStandards offering to our clients’ needs.”

“Our clients will be able to easily access and process MyStandards as well as select bank-wide services according to their individual requirements via the Autobahn App Market. Client-centricity is key to our product strategy and cooperating with providers like SWIFT allows us to further tailor our MyStandards offering to our clients’ needs,” Watson said in a news release.

Deutsche Bank had already been using MyStandards to streamline the manner it implements standards and improves client interaction, but making SWIFT’s product available as part of its Autobahn Market give clients a way to ease the process for the customer. The Autobahn App Marrket, considered to be  the one-stop-shop for banking needs to manage transaction service across the globe electronically through a single access point. According to the Cash & Treasury Management File article: “Deutsche Bank have found that, ‘through the easy usage and document transparency of MyStandards clients can directly start with their message implementation and therefore can reduce the overall onboarding timeline.’ ”

“We are committed to making it as easy as possible for users to integrate the MyStandards platform into their day-to-day processes. We are delighted that MyStandards will now be made available seamlessly to the entire Autobahn App Market Community. Integration with the industry’s major platforms is probably the most efficient path towards full industry adoption of MyStandards,” Marc Delbaere, head of MyStandards at SWIFT said in a news release from the company.