- Derivative Path, which is a provider of capital markets technology, has confirmed that it will pair up with Goldman Sachs Transaction Banking (TxB), as part of a new spot forex and cross-border payments move.
- The company is thought to be planning to use an application programming interface (API) as part of the new move.
- “Teaming up with one of the world’s largest and most-established financial institutions is a major step in the right direction of bringing greater technology sophistication and flexibility to the regional and community banking sector in the US,” said a senior figure at Derivative Path.
Derivative Path, a provider of capital markets technology, has announced that it will make a significant move in the online money transfer sector by pairing up with Goldman Sachs.
Derivative Path will partner with Goldman Sachs Transaction Banking (TxB), to provide a digital-first payments system.
It is expected that this will be used to help banks and other organisations when it comes to so-called ‘spot’ forex payments, press reports said.
It is also thought that the company will use TxB’s application programming interface (API) to provide an improved end-to-end service.
“Teaming up with one of the world’s largest and most-established financial institutions is a major step in the right direction of bringing greater technology sophistication and flexibility to the regional and community banking sector in the US,” said Pradeep Bhatia, the chief executive officer and co-founder of Derivative Path.
“The launch of our joint solution with Goldman Sachs substantiates our mission of delivering a new wave of innovation to these firms,” he explained.
Art Brieske, the global head of payments for transaction banking for Goldman Sachs, said: “Regional and community banks now have access to the same global payments capabilities as large money center banks.
“We are pleased to collaborate with Derivative Path to provide access to our global payments capabilities through their platform and provide regional and community banks with a comprehensive yet simplified and efficient cross-border payment solution.”
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