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June 3, 2022

Deutsche Bank partners with Toyota Astra Financial Services in Indonesia

Deutsche Bank has formed a partnership with Toyota Astra Financial Services (TAF) to install cash deposit machines at latter’s branches in Indonesia.

The cash machines simplify the cash collection process for firms while giving customers a convenient payment method.

TAF is the auto-financing arm of Toyota Financial Services (TFS) and a joint venture between TFS and Astra International, an independent automotive group in Southeast Asia.

It partners with banks, insurers, and dealerships to offer financing and leasing products to businesses and customers in Indonesia.

Cash deposit machines installed by Deutsche Bank will transmit payment data to TAF, streamline the cash collection process and improve cash flow forecasting.

Deutsche Bank head of corporate cash management for Indonesia 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.”

TAF division head of finance Lina said: “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.”

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