Goldman Sachs had launched transaction banking services in the US in 2020 to help businesses process domestic and international payments. This service was extended to the UK and in both countries, the bank has been able to generate traction with more than 250 clients in the US who have processed USD 1 trillion in transactions since the launch.
Fiserv is a payments processing and data services group and its tie-up with Goldman will open the transaction banking service to the clients of Fiserv. These clients would now be able to send and receive payments from domestic and international companies directly within their accounts receivable and accounts payable platforms.
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