The new cash deposit machines are said to simplify the cash collection process for companies and provide a more convenient payment method for customers
Deutsche Bank will install cash deposit machines. (Credit: cmophoto.net on Unsplash)
Deutsche Bank has teamed up with Indonesia-based Toyota Astra Financial Services (TAF) to install cash deposit machines at the latter’s branch locations across Indonesia.
TAF is a car-financing company, formed through a joint venture between Indonesian automotive group Astra International and Toyota Financial Services.
Toyota Financial Services is a wholly-owned subsidiary of global automotive manufacturer Toyota Motor Corp.
The new cash deposit machines will simplify the cash collection process for companies, and provides a more convenient payment method for its customers, said the German lender.
Deutsche Bank Indonesia corporate cash management head Vonty Hermawati said: “Businesses in new and emerging markets are often laden with traditional physical processes.
“This service is a win-win, enhancing the payment experience for customers while allowing corporates to operate more efficiently through automation and straight-through processing.
“We remain committed to helping companies with their cash management needs, through our solutions that are backed by advanced technologies.”
TAF partners with banks, dealerships and insurers, to provide various financing and leasing products for Toyota vehicles for Indonesian businesses and consumers.
The cash deposit machines installed by Deutsche Bank at TAF branches in Indonesia are designed to transfer real-time payment data to TAF.
The data is said to simplify the manual collection process and help improve the cash flow forecast.
TAF finance division head Lina said: “Indonesia is a very important market for Toyota and we are delighted to offer this service to our customers. Greater convenience for our customers means we can serve them better, retain them, and win new ones.
“This will then affirm and enhance our standing as the leading Toyota financier in Indonesia, in the four-wheeled market.
“We have enjoyed a long-standing relationship with Deutsche Bank and look forward to working with them more closely as we grow from strength to strength.”
Earlier this year, Deutsche Bank announced its decision to wind down its business in Russia, in response to the country’s invasion of Ukraine.