Deutsche Bank‘s Blue Water Fintech Lab has unveiled its first commercial product, a robotic process automation platform for corporate treasury clients that focuses on multi-bank data processing and reconciliation.

The RPA tool connects via API to enterprise resource planning or treasury management systems and can configure different messaging standards including payment and accounting formats, according to the bank. The solution can process thousands of financial documents simultaneously and shorten reconciliation time to within one hour from two to three days, the bank said.

“Corporate banks can potentially benefit the most from the use of AI and API-led connectivity, catching up with retail and investment bank units,” Yi Zhu, head of China innovation and fintech products at Deutsche Bank Corporate Bank, told Bank Automation News. “The use of AI-led automation and API plug-and-play connectivity means more banking options are now available to diverse multinational corporation clients with complicated supply chains.”

The tool helps corporate treasurers automate and streamline complex processes from payments to invoicing using real-time data and actionable insights, according to the bank. The solution has a configurable interface that automates reconciliations, transaction data extraction and conversion processes from multiple e-banking platforms into a company’s core.

“Embedding our new RPA solution into client’s ecosystems will be the rocket fuel that ignites our client’s digital treasury transformation.”

Deutsche Bank says it has piloted the RPA tool in China with non-bank, corporate clients who recorded saving 60 to 80 hours of manpower on average monthly.

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