Goldman Sachs on course to launch cash management in mid-2020 | Reuters


The bank, which will earn fees and gain a captive client base for its foreign exchange business, could offer existing corporate clients more on deposits if they sign up for Goldman’s cash management services, a person familiar with the plan told Reuters.

Long considered a low-margin, utility-like service, the wholesale payments and cash management business generated about $250 billion in global revenue in 2017 for big banks, according to management consulting firm Oliver Wyman.

Source: Exclusive: Goldman Sachs on course to launch cash management in mid-2020 | Reuters

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