Derivative Path, a provider of capital markets tech and derivatives execution services to regional and community banks, announced it is working with Goldman Sachs Transaction Banking (TxB) to offer “an automated, digital-first payments platform to help financial institutions with spot foreign exchange and international payments.”
Using TxB’s API-based platform, clients of Derivative Path now can “provide a more cohesive end-to-end global payment solution to their underlying customers.’
The Cloud-based solution “simplifies cross-border payments complexities by streamlining workflows, providing greater pricing transparency, and delivering real-time, secure payment tracking for users.”
The solution reduces barriers to entry “for regional and community banks to seamlessly access FX payments through the Derivative Path platform, leveraging Goldman Sachs Transaction Banking’s Global Payments network.”
Pradeep Bhatia, CEO & Co-Founder of Derivative Path, said:
“Teaming up with one of the world’s largest and most-established financial institutions is a major step in the right direction of bringing greater technology sophistication and flexibility to the regional and community banking sector in the US. The launch of our joint solution with Goldman Sachs substantiates our mission of delivering a new wave of innovation to these firms.”
Art Brieske, Global Head of Payments for Goldman Sachs Transaction Banking, remarked:
“Regional and community banks now have access to the same global payments capabilities as large money center banks. We are pleased to collaborate with Derivative Path to provide access to our global payments capabilities through their platform and provide regional and community banks with a comprehensive yet simplified and efficient cross-border payment solution.”
Derivative Path’s SaaS-based capital markets platform DerivativeEDGE was “designed as an end-to-end solution in which users have front, middle, and back-office functionality on one platform, eliminating the inefficiencies of working with disparate systems to manage operational workflow.”
It also “automates regulatory compliance, integrates real-time market data, automates swap data reporting, and affirms cleared trades.”
As mentioned in the announcement, Derivative Path is a provider of capital markets technology and derivatives execution services. The company has “developed a technology-led solution to assist financial institutions, buy-side, and commercial end-users in executing and managing their international payments, foreign exchange, over-the-counter commodity and interest rate derivative transactions.”
Founded by derivatives industry veterans, Derivative Path is on a mission “to democratize access to capital markets products and technologies for all market participants.”