Today many corporates still manage their cash based on yesterday’s account statement or an intra-day report, but don’t have access to real-time information. As part of Deutsche Bank’s expanding application programming interface (API) capabilities, the new Instant Cash Reporting (ICR) solution delivers immediate, on-demand financial data access through the trusted, secure connectivity of the Swift infrastructure – helping treasurers make faster, smarter decisions.

Swift acts as the central connector, routing API pull requests from corporates to Deutsche Bank, which then responds with standardised account data aligned with ISO 20022 and in the secure JSON (JavaScript Object Notation) format. This response is tailored to the corporate’s selected accounts or full account set, based on the associated Swift BIC.

“ICR addresses the key demand of corporates for multi-bank solutions and consistent standards in the API space”
Johnny Grimes, Head of Corporate Cash Product at Deutsche Bank

“Deutsche Bank, leveraging Swift and the API Network, is setting a benchmark for the industry by offering clients innovative, real-time solutions that enhance cash visibility and operational efficiency,” said Johnny Grimes, Head of Corporate Cash Product at Deutsche Bank. “ICR addresses the key demand of corporates for multi-bank solutions and consistent standards in the API space to simplify adoption.”

Deutsche Bank and Spain-based energy company Iberdrola are the first partners to implement ICR. Iberdrola highlighted that the ICR API offers significant benefits such as:

• Process automation, error reduction, and improved operational efficiency.
• Real-time access to information and seamless integration with existing systems, reducing operational costs and optimising both human and technological resources.
• Balance optimisation and the identification of unexpected incoming payments, enhancing financial management and increasing revenue.

Rishikesh Tinaikar, Global Head of Corporates and Trade Go-To-Market at Swift, said: “We’ve been investing significantly in APIs to provide financial institutions with flexible and real-time access to new solutions. Alongside the introduction of white-labelled, end-to-end tracking services, and the extension of ISO 20022 across the payment chain, Instant Cash Reporting is another example of how Swift is enabling its community of banks and financial institutions to add real value to treasury management teams within their corporate customers.”