The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2020 Euromoney, a part of the Euromoney Institutional Investor PLC.
Treasury

Entrenched relationships may prove more valuable than tech for TS clients

New transaction-services platforms may need more than good digital technology to make headway.

handshake-tech-laptop-960.jpg

US banks signed more than 100 new contracts with the 10 largest cash-management technology vendors last year, according to a report published by Aite Group.

As banks prioritize availability of money management and forecasting tools, this trend will only continue, says Aite Group research director Christine Barry, author of the May report.

In September, Goldman Sachs announced a collaboration with Volante Technologies that will see the bank use the cloud payments and financial messaging solution provider’s technology to process domestic and international payments on its digital transaction banking platform.

It doesn’t seem that [Goldman] offers all the pieces that leading banks deliver
Patricia Hines, Celent
Patricia-Hines-Celent-960.jpg

Patricia Hines, head of corporate banking at Celent, reckons it will take Goldman some time to build out its offering to the point it could replace many of the primary banking relationships in place today.

Corporate banking generates as much as $85 billion in annual revenue in the US and the top five banks account for most of that income.

However, she rejects the suggestion that transaction banking and cash management has changed little during the past 40 years and is now ripe for disruption.

“The


You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree