GTreasury, the treasury management system provider, today announced a partnership with Goldman Sachs that benefits corporate treasurers leveraging GTreasury’s platform for domestic and international payments. The deal pairs GTreasury’s payment workflow solutions with Goldman Sachs’ tech-forward and secure global payment capabilities.

This partnership brings a whole new way of doing banking and payments.

GTreasury ecosystem empowers the payment process

“GTreasury’s ecosystem helps our customers create digital workflow across the corporate treasury value chain,” said Terry Beadle, Global Head of Corporate Development at GTreasury. “Joining forces with Goldman Sachs makes it simpler, more transparent, and more economic for customers to make payments.

“Since GTreasury’s acquisition of Visual Risk, we have had a clear vision of how the seamless combination of cash management software and risk analytics can help our customers,” said  Renaat Ver Eecke, CEO of GTreasury. “Corporate Treasurers have welcomed our innovative single solution strategy, and the company has grown to become the leading integrated treasury system. We welcome Goldman Sachs Transaction Banking as a strategic partner, building on our successful cooperation with Goldman Sachs Asset Management. This is yet another example of how GTreasury can leverage a true fully integrated single platform to provide unique end-to-end solutions for treasurers around the world.”

Goldman Sachs’s customer benefits

“GTreasury customers will quickly see the benefits of the frictionless, transparent payment experience and the competitive pricing that’s inherent to Goldman Sachs Global Payments,” said Hari Moorthy, global head of Transaction Banking at Goldman Sachs. “We are proud to partner with GTreasury to introduce this innovative yet simplified approach to making payments across the globe.”

Benefits of this partnership for GTreasury customers leveraging Goldman Sachs Global Payments include:

• A streamlined process for paying domestic and foreign vendors in local currencies and at a lower cost with competitive foreign exchange rates;
• Real-time payment tracking that reduces payment-related supplier inquiries;
• Cost transparency on bank fees;
• Optimized payment routing via Goldman Sachs’ advanced machine learning techniques;
• Reduced risk as a result of improved visibility and control over foreign exchange payments and currency exposures for stakeholders in procurement and treasury.

A new way of doing banking

Goldman Sachs has been working on this new concept for 2-3 years building from scratch a whole new transaction banking concept – which they will explain in full at a full press release and corporate presentation tomorrow. The concept is to have a frictionless approach to adding the new service, so multi-national corporations can get access to Goldman Sachs transaction bank without having to change their existing banks or how they operate because the service is a fully integrated core part of the GTreasury single platform. This will enable MNCs to retain all their current bank accounts and then make their global payments globally more transparently and more competitively than ever before.

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CTMfile take: This global payments service sounds simple, but it is not easy. The revolution is the ease of use and fully integrated GTreasury service that supports the new payment service.