Goldman Sachs expands transaction banking to the U.K

A photo of Goldman Sachs’ London office
Goldman Sachs’ London office

Goldman Sachs announced that it would be expanding its Transaction Banking (TxB) services to the United Kingdom and will be offering its potential business clients cash management and treasury services.

A year ago, the company launched its transaction banking services called TxB in the United States of America. Since then, it has garnered more than 250 clients and has over $35 billion in deposits with trillions of dollars flowing through its systems, surpassing the company’s expectations.

The company stated that the goal for the expansion of its TxB services to the United Kingdom is to offer new services to its potential corporate and institutional clients through a digital cash management platform.

Goldman Sachs’ global head of TxB, Hari Moorthy had this to say:

“We set a mission to provide a global transaction banking platform that is secure, easy to use, and nimble to help our clients run and grow their businesses. The growth of this business has exceeded our estimates and we are very excited to bring TxB to the UK to expand our client reach and streamline banking for multinational corporations with a presence in the US and the UK.”

Goldman Sachs did not disclose how many job opportunities will be birthed as a result of its Transaction Banking Services to the United Kingdom.

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