Hazeltree and Goldman Sachs’ Transaction Banking unit (TxB), announced a joint solution to streamline treasury management with integrated global payments and FX capabilities. It’s expected to simplify operations and reduce cost for treasurers managing cash and foreign exchange transactions.
The partnership combines Hazeltree’s treasury management and payment workflow solutions, built specifically for investment managers, with Goldman Sachs’ tech-forward global payment and FX capabilities.
Hari Moorthy, global head of TxB, said in a statement. “We know that our clients want payments around the globe to be fast, transparent, and simple. Clients will quickly see these many benefits along with the bonus of competitive pricing.”
Benefits of this partnership for Hazeltree’s and Goldman Sachs’ clients for this joint solution include:
- A comprehensive multi-bank treasury and cash management portal to aggregate cash balances across all banking relationships and manage movements and payments globally;
- A streamlined process for moving cash domestically and internationally at lower cost with competitive foreign exchange rates;
- Real-time payment tracking to reduce payment-related operational breaks;
- Comprehensive cash forecasting and optimization;
- Cash sweeps with bundled integration to leading money market providers;
- Integrated currency exposure management, hedging and execution;
- Cost transparency on bank fees;
- Optimized payment routing via Goldman Sachs’ advanced machine learning techniques; and
- Enhanced risk management as a result of improved visibility and control over foreign exchange payments and currency exposures for stakeholders.