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Goldman’s bet to break into a $32 billion industry serving the world’s biggest corporations

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Hari Moorthy, Goldman Sachs global head of transaction banking.

Source: Goldman Sachs

Goldman Sachs wants to help any company in the world become a bank.

The firm has just released software that allows clients to embed banking services into their own products as part of a push to break into the $32 billion a year industry managing cash for big corporations, according to Hari Moorthy, Goldman’s global head of transaction banking.

Decades late to the global cash management industry ruled by Citigroup and JPMorgan Chase, Goldman hopes to leapfrog rivals by offering a fresh approach to corporate bank accounts and cross-border payments. After building a new cloud-based system for accounts and…



Source cnbc.com

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