Deutsche Bank has launched Accounts Receivable Manager (ARM) for Sepa, a corporate cash management tool initially developed for e-commerce giant PayPal
ARM is a fully automated payer identification system that enables auto-reconciliation for incoming Sepa credit transfers, while slashing the need to maintain multiple bank accounts for separate lines of business.
The system was developed with PayPal to help manage the latter's euro receivables across the continent using a single consistent reconciliation process.
It lets PayPal use millions of Ibans for its customers, allowing fully-automated payer identification without the need to match existing client data, and improving auto-reconciliation rates by up to 100%, says Deutsche Bank.
Deutsche Bank is now making the platform available to other clients.
Katja Lehr, senior manager, global core payments, PayPal, says: "Every day we receive payments with incomplete or inconsistent payment information, which hampers our ability to automate allocation and reconciliation. While some payments can be reconciled through a manual process, others have to be returned.
"Because this is an unacceptable user experience, we connected with Deutsche Bank, a trusted partner we have been working with for many years, to develop the Accounts Receivable Manager."