Visa and Goldman Sachs announced collaboration

This partnership is expected to transform treasury operations for Goldman’s clients with Visa B2B Connect and Visa Direct

Visa Goldman Sachs

Visa and Goldman Sachs announced collaboration. Source: flickr.com

Visa and Goldman Sachs Transaction Banking have announced a partnership to help businesses move money effortlessly around the world.

Through its implementation of Visa B2B Connect and Visa Direct Payouts solutions, Goldman Sachs will help its commercial and corporate banking clients simplify complexities and costs associated with existing systems and inefficient processes.

These solutions will enhance Goldman’s cross-border B2B and B2C payments program for high and low-value payments. Its corporate clients can move funds, have near real-time visibility into their payment status, obtain necessary reconciliation and compliance data, ultimately helping improve organizations’ cash flow.

There is an immediate need for modernization of global money movement to help businesses around the world simplify and enhance how they pay and get paid across borders. Visa’s partnership with Goldman Sachs Transaction Banking is an important milestone in our efforts to break down traditional processes and silos and help spur innovation in this critical industry segment for the decades to come
Alan Koenigsberg, global head of new payment flows, Visa Business Solutions

According to the press release, Goldman Sachs Transaction Banking clients can start using Visa’s solutions right away through their existing connections, whether that be API, file or online web platform.

For high-value cross-border B2B payments, Goldman Sachs will leverage Visa B2B Connect, a multilateral B2B cross-border payments network, available in 97 markets globally, to help optimize payments for its corporate client base.

We’ve reported that Temenos introduced Temenos Cloud Banking.

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