Goldman Sachs Releases “TxB” Transaction Banking Offering in EU
(20 September 2022 – Germany) Goldman Sachs is expanding its Transaction Banking offering, TxB, to the European Union (EU).
After launching in the United States in 2020 and extending to the United Kingdom (UK) in 2021, the group’s broader TxB offering deepens Goldman Sachs’ relationships with existing clients with transactional banking needs in the EU and allows the group to service new corporate clients across the Continent.
For over 30 years Goldman Sachs has offered capital markets, transaction advisory, financing and trading services in Europe, and the TxB expansion increases the scope and scale of the group’s offering. Goldman expanded it’s business by acquiring an online deposit platform from GE Capital Bank in April 2016.
Starting with a new location in Frankfurt, and with plans to expand to Amsterdam, TxB will serve clients’ treasury needs, including deposits and payments into over 160 countries in more than 120 currencies. TxB’s cloud-based global platform provides clients with visibility into their accounts, payments, and liquidity positions across currencies and countries. TxB has already attracted more than 400 clients, accepted over US$65 billion in deposits, and processed trillions of dollars through its systems.
“We are excited to bring the Goldman Sachs Transaction Banking experience to clients with treasury needs in the European Union. We understand the challenges of running a complex global treasury operation, and built our platform to be nimble, secure and easy-to-use to support clients as they run and grow their businesses” stated Goldman Sachs Global Head of TxB, Hari Moorthy.