Deutsche Bank ups investment in remittance market

Deutsche Bank has strengthened its service offering in the remittance space by taking an 8 per cent equity stake in Eurogiro, a payments messaging company for postal organisations. “The investment in Eurogiro demonstrates our commitment to remittances, which is a growth segment for Deutsche Bank,” said Paul Camp, head of cash management, financial institutions, at the bank. “It also demonstrates our commitment to the Eurogiro community of postal banks and organisations around the world and to the Eurogiro company itself, which is the second largest provider of payments messaging in the world after Swift.”