NEW DELHI: The Asia Centralised Processing Centre (ACPC) has been set up to process Deutsche Bank's trade transactions originating in Asian countries, said a company statement issued here. The centre, which is an arm of the bank's global trade finance (GTF) initiative, will aim at increasing economies of scale and reducing transaction costs, the statement added. In the first phase, which will be completed by 2004, the processing centre will have 100 employees. "Staff will have undergone high standards of training to ensure that the processing of trade documents is handled with the utmost levels of accuracy," said the Deutsche Bank statement. "This advanced processing centre will ensure that greater efficiencies are achieved in checking trade documents, which is a critical step in the trade finance business," it added. Said Reinhard-E Uhl, global head (global trade finance) of Deutsche Bank: "The centre offers Deutsche Bank's global standards of accuracy and efficient processing on a most economic basis. "The ACPC is a major value-add in our trade finance business offering". Amita Jhangiani, regional head (trade risk services) of Deutsche Bank said: "The ACPC is a modern day processing unit that will afford large global trade finance banks a central processing service in a country where costs are relatively low, such as India." In India, Deutsche Bank is a leading provider of finance products, and caters to the trade requirements of clients ranging from multinational corporations to large local firms and public sector entities.
Source: IANS