Deutsche Bank to provide Mobile Authorisation in Sri Lanka for the International Air Transport Association (IATA)

24th October 2009, www.dailymirror.lk

Deutsche Bank announced that it is the first provider to successfully implement mobile authorisation for the International Air Transport Association (IATA) in Sri Lanka, a global trade organisation for airlines and airline agents.

Leveraging on the latest mobile push technology, this advanced web-based mobile authorisation feature allows corporate users to benefit from mobility in electronic-transactional authorization via easy access to transactional information with their smart-phone without the constraints of geography and time. The authorisers, in turn, will benefit from real-time access to information on pending transactions and responses on authorisation results.

First to be launched in Sri Lanka, Deutsche Bank’s mobile authorisation is the only authorisation option in the market with a non-repudiation support feature. Stringent security measures are in place to ensure the secure delivery and confirmation of transaction authorisations. This integrated mobile technology is available via db-direct internet, the bank’s web-based platform, which is part of db channel and information solutions. This is an addition to db direct internet’s two existing modes of authorisation, online and remote token authorisation.

The International Air Transport Association (IATA) is Deutsche Bank’s first client in Sri Lanka to experience the mobile authorisation solution. As an intermediary between airlines and cargo and airline agents, IATA is responsible for the Billing and Settlement Plan (BSP) in Sri Lanka. Deutsche Bank has been the local BSP Clearing and Settlement Bank for IATA since 2005.

Asanka Ranhotty, head of cash management corporates for Deutsche Bank in Sri Lanka said, “We understand that corporate executives responsible for authorising payments need to access electronic transactional information while on the move. Mobile authorisation allows our clients access to electronic transactional information at their convenience. This is key in today’s business environment where optimising working capital and managing liquidity efficiently take precedence. As pioneers in mobile authorisation, we expect more clients to upgrade to this enhanced value-added feature.”

Deutsche Bank was recently named Best Transaction Bank and Best Cash Management Bank in Sri Lanka, and Best Transaction Bank and Best Cash Management Specialist for Corporates in Asia Pacific, in The Asset Triple A Transaction Banking Awards 2009.