גולדמן סאקס עושה מהלך מדהים במיקוד בחברות גדולות ומתן מגוון פתרונות פיננסיים באמצעות השקת פורטל מפתחים והתממשקות לשירותי פינטק חדשניים. ניתוח של ניר קוריס

1. This is Goldman’s bet to break into
a $32 billion industry serving the
world’s biggest corporations
PUBLISHED WED, OCT 28 20208:00 AM EDTUPDATED WED, OCT 28 20209:30 AM EDT
Hugh Son@HUGH_SON
KEY POINTS
 Goldman just released software that allows clients to embed banking services
into their own products.
 The strategy could help Goldman jumpstart its push into transaction banking,
which has lagged consumer technology in ease of use.
 The move is part of CEO David Solomon’s broader expansion into corporate
and consumer banking, steady businesses that will broaden the firm’s revenue
base away from volatile trading.
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

2. 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
payments, Goldman is publicly releasing software known as APIs to allow
clients’ programmers to build on top of the bank’s platform.
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“We are trying to create a new industry by integrating our services into their
businesses so they can cater to their clients as if we had them,” Moorthy
said in a phone interview. “Imagine a technology company that can use
these APIs to create a solution for payments or deposits in concert with
whatever else they currently provide to that client.”
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The approach, dubbed banking-as-a-service, is inspired by what Amazon
has accomplished with its cloud business. Just as Amazon enabled a
generation of businesses to tap into cheap computing power, Goldman’s
wager could spur the proliferation of digital wallets and seamless payments
throughout the corporate and consumer realms.

3. Source: Goldman Sachs
“This is the financial cloud for corporates,” Moorthy said. “The possibilities
of what we could do here are practically limitless.”
The strategy could help Goldman jumpstart its push into transaction
banking, an area that has lagged consumer technology in ease of use and
is where clients are slow to switch providers. The move is part of
CEO David Solomon’s broader expansion into corporate and consumer
banking, steady businesses that will broaden the firm’s revenue base away
from volatile trading and investment banking.
“There’s this butterfly effect that will kick in after we roll this out,” Moorthy
said. “It allows us to acquire clients of our clients, allows us to seamlessly
be integrated in the fabric of banking and corporates.”

4. By connecting directly into Goldman’s corporate platform, clients can open
accounts quickly and take advantage of the bank’s automated payments
programs, which it created for itself as its first client.
The transaction banking effort, which officially launched in June to outside
clients, has garnered $28 billion in deposits and more than 200 clients.
Moorthy rejoined Goldman Sachs in 2018 to lead the nascent effort after
spending almost four years at JPMorgan.
The 10 biggest players reaped $32 billion in revenue from transaction
banking last year, led by Citigroup, Bank of America and JPMorgan,
according to institutional research firm Coalition.