|In TxB's first newsletter of 2022, we highlight innovations such as the TxB command center, explain how clients should be thinking about rising interest rates, and share relevant industry developments and TxB news. Read below to learn more about how Goldman Sachs continues to grow and innovate in Transaction Banking.|
|David Solomon Visits TxB Command Center|
|Goldman Sachs Chairman and CEO David Solomon recently visited TxB's command center, where he was able to see first-hand how our division leverages technology to view and track essential client data, and troubleshoot and solve problems in real time - which allows us to deliver more proactive client service. Click here to see more photos from David's visit.|
|Fireside Chat with Hari Moorthy|
|Global Head of TxB Hari Moorthy recently sat down for a fireside chat with Wolfe Research's Steven Chubak at the Wolfe FinTech Forum. Be sure to watch the full video to see Hari outline some of the innovative products and services that give TxB an edge in Transaction Banking.|
| Source: Goldman Sachs Global Investment Research|
How Interest Rate Hikes Impact Corporate Treasuries
Inflation has steadily been on the rise, and the Federal Reserve took initial action to limit this trend by raising interest rates 0.25% in March - with an expeditious rate hike schedule expected throughout the year. Corporates were already sitting on record amounts of cash due to the COVID-19 pandemic, but as interest rates increase, so too will the yields available on short term investments - including demand deposit accounts, term deposits and money market funds. This represents an opportunity for treasurers to optimize the use of their short term cash, and to generate incremental revenues for their organizations. In fact, operating, reserve and strategic cash can all benefit from higher rates.
Going forward, treasurers should seek transparency from their banks on how they will adjust rates following the expected Fed increases. GS clients and research subscribers can log in to read the latest research article
on this topic.
| IFR Highlights TxB's Growth Trajectory|
|International Financing Review (IFR) reporters Steve Slater and Gareth Gore interviewed Global Head of TxB Hari Moorthy and highlighted the division's plans for expansion. This includes scaling up our presence in 36 countries in under two years - including in Europe and Japan. Read the full article here.|
| TxB Launches on FPS|
|TxB recently went live on the UK’s Faster Payments Scheme (FPS), which allows payments to move more quickly and securely between UK bank accounts in seconds. But the benefits provided by FPS are multifold. Click here to see the various advantages of using FPS.|
We are excited to make this service available to all our corporate and fintech clients in the UK through TxB's APIs.
| ACH Rule Changes|
|There have been some recent changes to NACHA rules that clients in the U.S. sending and receiving ACH transactions should be aware of. This includes an increase in the per transaction amount limit for same day ACH transactions from $100,000 to $1,000,000 - resulting in faster settlements for more transactions and use cases. In addition, a WEB debits account validation rule that went into effect in March 2021 is now enforceable, which will impact clients that initiate direct debits to bank accounts through the ACH network. Clients can click here to learn more about upcoming ACH changes.|
| TxB's COO Named Influential Woman in Payments|
|TxB COO Brinda Bhattacharjee was recently named one of American Banker's Most Influential Women in Payments in 2022. Brinda has been influential in managing our partnerships and driving our rapid growth. Read the full profile of Brinda and check out the Influential Women in Payments list.|
| Employee Spotlight: Kirk Hudson|
|TxB's Head of Client Services, Kirk Hudson, sat down for a Q&A as part of Goldman Sachs' celebration of Black History Month. Kirk discussed the various leadership and mentoring roles he's taken in the Firmwide Black and LGBTQ+ Networks, and his personal and career aspirations. Be sure to check out Kirk's entire interview.|
| Winston Pearson at Fintech Talents Festival|
Digital Product Vice President Winston Pearson was recently interviewed at the Fintech Talents Festival on the latest trends and innovations in Open Banking. Be sure to watch the full interview to see Winston discuss how open banking can benefit low income consumers, gig economy workers and SMEs.
|Connect with our team and see how we can help modernize your treasury.|
& Virtual Accounts
|Transaction Banking services are offered by Goldman Sachs Bank USA (“GS Bank”) and its affiliates. GS Bank is a New York State chartered bank, a member of the Federal Reserve System and a Member FDIC. This document is being sent to you for your information only as a Transaction Banking client of Goldman Sachs and should not be forwarded outside of your organization. This document and is not a product of Goldman Sachs Global Investment Research. This document should not be used as a basis for trading in the securities or loans of the companies named herein or for any other investment decision. This document does not constitute an offer to sell the securities or loans of the companies named herein or a solicitation of proxies or
votes and is not, and should not be construed as, advice of any kind.|
|Unsubscribe | Update your profile | View This Email Online | Visit Goldman Sachs|
© 2022 Goldman Sachs
200 West Street
New York, NY 10282