Goldman Sachs, Derivative Path expand cross-border payments for regional banks

Jun. 30, 2022 12:36 PM ETThe Goldman Sachs Group, Inc. (GS)VBy: Liz Kiesche, SA News Editor1 Comment

Financial technology concept. Fintech. Online banking. Foreign exchange.

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  • Goldman Sachs Transaction Banking (NYSE:GS) is teaming up with Derivative Path, a provider of capital market technology and derivative execution services, to offer an automated, digital-first payments platform to help U.S. regional and community banks with spot foreign exchange and international payments, the companies said Thursday.
  • Using Transaction Banking's API-based platform, Derivative Path clients will be able to provide an end-to-end global payment solution to their underlying customers. The cloud-based service is designed to simplify cross-border payments complexities by streamlining workflows, providing greater pricing transparency, and delivering real-time, secure payment tracking for users, they said.
  • "Regional and community banks now have access to the same global payments capabilities as large money center banks," said Art Brieske, global head of payments for Goldman Sachs Transaction Banking (GS).
  • In January, Visa (V) acquired Currencycloud in £700M deal to enhance cross-border payments

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