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Growth in Transaction Banking; are banks going back to basics or is there a killer application ?
While the global financial markets face severe meltdown, one area within banking quietly continues to prosper - Transaction banking. Consider this –
A number of global banks are rushing to create a transaction banking division. Santander launched the transaction services division last year, while early this year RBS announced the formation of global transaction services business (immediately after the acquisition of ABN-AMRO).
What is the reason for the new shine on this very traditional business of payments, trade and cash management? Are banks going back to basics or is there is new killer application?
Over the last few days, I have been polling my CIO friends within the banking world about this. Here are some of the views -
This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.
Oleksandr Strozhemin Co-founder and CEO at Trinetix
13 August
Elaine Mullan Head of Marketing and Business Development at Corlytics
12 August
Abhinav Paliwal CEO at PayNet Systems- A Neo Banking Software Platform
Donica Venter Marketing coordinator at Traderoot
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