Deutsche Bank helps John Keells streamline payment processes

Deutsche Bank announced the implementation of a hybrid payment solution for Sri Lanka based John Keells Holdings PLC (JKH) that will streamline the company’s payment processes managed by its hared service centre, InfoMate (Pvt) Ltd.

As a wholly-owned subsidiary of JKH, InfoMate (Pvt) Ltd. serves as a shared service centre for JKH and its businesses. With US $ 1.45 billion in market capitalisation*, JKH is the largest listed conglomerate on the Colombo Stock Exchange. JKH specialises in numerous sectors including food and beverage, transport, leisure, information technology, business process outsourcing, financial services, property development, plantation and investor services.

Due to its complex and diverse payment and collection requirements, the company's process workflow for its supplier payments was previously run separately from other payment workflows. JKH has now implemented a hybrid payment solution, which connects Deutsche Bank’s electronic banking and supplier finance platforms to JKH’s ERP interface, resulting in greater operational efficiencies within its shared service centre, as well as cost reductions. The company’s payment files are automatically uploaded from JKH’s shared service centre to Deutsche Bank’s platforms, thereby creating an efficient seamless payment process.

Mahesh Kini, Deutsche Bank’s Regional Head of Cash Management for Corporates Asia Pacific, Global Transaction Banking, said: “We are delighted to be able to help John Keells consolidate its payment processes. We continue to see an increasing demand from local corporations across the region for customised payment solutions such as the one we have successfully implemented for John Keells.”

A leader in Germany and Europe, the bank is continuously growing in North America, Asia and key emerging markets. With more than 100,000 employees in 72 countries, Deutsche Bank offers unparalleled financial services throughout the world.