Goldman Sachs Transaction Banking (TxB) has announced a partnership deal with cloud-native Playtech Form3. The partnership deal will see the launch of new cross-border and foreign exchange payments capabilities for the banking clients.
Form3 Sets To Provide FX Functionality To Clients
The partnership deal also means that Form3 will be able to offer new FX functionality to its clients. Form3’s platform will integrate TxB’s APIs, which will offer customers real-time FX rates, as well as payment tracking and execution capabilities. Form3 also noted that the collaboration will enable its clients to access FX payments in 124 currencies across 163 countries.
Global head of payments and products at Goldman Sachs, Art Brieske, stated that the partnership with Form3 has allowed the firm to simplify the payment experiences for both clients
Chief Executive Officer of Form3, Michael Mueller, while commenting on the partnership, stated that the collaboration with Goldman Sachs TxB is part of the firm’s growth strategy. With the changing dynamics for cross-border payments, the partnership is coming at the right time to provide additional FX and payments functionality and scale international offerings.
He added that the integration with Goldman Sachs has allowed Form3 to add FX payment functionality within its ecosystem. This has ensured global growth and the expansion of clients from both companies.
Goldman Sachs Completes The Acquisition Of NN Investment Partners
In another development, Goldman Sachs announced the acquisition of NN Investment Partners for €1.7 billion ($1.85 billion).
According to Goldman Sachs, the acquisition will support its goal of expanding its European presence to the Netherlands, the country where NN IP is headquartered.
The acquisition deal will also see 900 NN IP’s employees becoming part of Goldman Sachs Asset Management (GSAM).
Chief Executive Officer of Goldman Sachs, David Solomon, stated that the acquisition is part of the company’s plans to make sustainability a priority in its investment platform. It extends the company’s leadership in insurance asset management and adds scale to its European clients’ franchise, Solomon reiterates.