Claimed as the first real-time Internet electronic banking product, the Deustche Bank offering will have both trade finance and foreign exchange modules in one web-based solution.

The bank's corporate customers can now have access to information on account-balances, outstanding deposits, loans and view the consolidated balances by currency. They will also be to navigate, view and print account statements.

"This launch in India is part of our regional roll-out which will see db-direct Internet available to the bank's cash management clients in more than 13 countries across the region", Deustche Bank's Asia-Pacific head global cash management Jimmy Yap said. Developed for its corporate clientele globally, the web-based electronic banking system has received tremendous response, the bank claimed. The offering was first introduced in Spain and in the Asian region, Deustche Bank has completed pilot projects in Singapore, Hongkong and Indonesia.

"We have already discussed the system with a number of clients. "They are enthusiastic about the prospect of using a highly secured Internet platform, especially on that they can access easily from wherever they are based in a country as vast as India". Deutsche Bank's head of global cash management (India) Kaushik Shaparia said.

The system has been designed to meet the changing needs of the bank's corporate and institutional clients and provides them with an easy and efficient means of transacting. `Db-FastCollect' ensures that corporates local currency cheques are promptly cleared and funds deposited into the accounts. In some markets, the bank even offers a cheque purchase service, whereby corporates can receive quick cash against the cheques deposited.