Transaction banking: RBS networks to help clients
In a sign of renewed confidence as the bank recovers, RBS has launched a new Global Network Banking (GNB) division. "GNB, which is effectively a joint venture between Global Transaction Services (GTS) and Global Banking and Markets (GBM), aims to meet the needs of companies’ international subsidiaries in a more effective way," says the division’s head, Aidene Walsh.
Walsh says that historically international subsidiaries have not been served well.
"Clients want consistency and standardized delivery wherever they operate but because of the ways banks are organized that often hasn’t been the case," she says. GNB aims to make it easier for corporates to manage flow products such as cash management or FX or derivatives on a global or regional basis by combining local expertise with an understanding of the global client’s relationship needs. "Obviously some countries continue to have specific requirements but generally clients are now focused on regional or even global solutions," says Walsh.
The GNB business operates across RBS’s multinational client base as well as serving its home markets clients – including those with Citizens Bank in the US and its UK bank franchises – when they operate overseas.