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Annual Report 2006

Case studies | European harmonisation

Preparing for SEPA

Werner Steinmueller joined Deutsche Bank in 1991 and became head of its Global Transaction Banking (GTB) business in April 2005. The SEPA initiative has reinforced the relationship between GTB and SWIFT.

Werner Steinmueller Head of Global Transaction Banking, Deutsche Bank, Germany

“SWIFT was a valuable help right from the start of our process in preparing for SEPA,” says Mr Steinmueller. “When I took up my new post in transaction banking at Deutsche Bank, I had a productive meeting with Lázaro Campos, Head of SWIFT’s Banking Division. Discussing market trends and exchanging ideas helped to lift our strategic thinking about SEPA to the next level.”

SWIFT’s focus on the messaging side partnered by the banks’ focus on ACH and the banking implications of SEPA create a good fit. “SWIFT is about cooperation and one area of fruitful collaboration we identified was in the definition of SEPA-compliant standards and rules, where SWIFT’s expertise is proving invaluable,” says Mr Steinmueller.

SEPA is key to Deutsche Bank’s Cash Management strategy. “Within Deutsche Bank, we have a team working full time on SEPA,” says Mr Steinmueller. “SWIFT helped us get an early start.”

Quote
“SWIFT is about cooperation and one area of fruitful collaboration we identified was in the definition of SEPA-compliant standards and rules, where SWIFT’s expertise is proving invaluable.” Werner Steinmueller, Deutsche Bank, Germany