Deutsche Bank has announced that it will introduce WeChat on its Symphony platform, backing a partnership between Symphony and Tencent to connect Symphony’s community of 450,000 global markets professionals with the WeChat network.
Deutsche Bank’s Chinese corporate clients will soon be able to use the WeChat integration with Symphony to complete multiple steps in the FX trade process. The client will be able to use WeChat to support pre-trade services such as FX rate transparency, including obtaining the RMB exchange rate for conversion into other currencies and documentation process flows, while meeting all compliance and regulatory standards. Head of Corporate Bank and Fixed Income and Currencies, Asia Pacific, David Lynne said: “The Symphony WeChat service has the potential to transform how our Chinese clients engage and do business with us. This pioneering solution reflects our commitment to our Chinese clients and China as one of our most important growth markets, and highlights the continued digitalisation of our platform.”