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Goldman Sachs: Redefining transaction banking with cloud-native innovation

Volante Technologies
Volante Technologies
Case Studies

Overview

Goldman Sachs, a global leader in investment banking and financial services, embarked on an ambitious journey to disrupt the transaction banking market with its Transaction Banking Division (TxB). With the goal of reaching $1 billion in revenue within five years, the firm sought to deliver payment services with global coverage across key markets and multiple currencies. Embracing a pure cloud strategy, Goldman Sachs partnered with Volante Technologies to implement the Volante Payments Platform, enabling the creation of its first cloud-native transaction banking solution. This platform delivered advanced payments processing, liquidity management, and seamless client experiences, solidifying Goldman Sachs as an innovation leader in transaction banking.

About Goldman Sachs

Founded in 1869, Goldman Sachs is a global financial services firm headquartered in New York City. It serves corporations, financial institutions, governments, and individuals through four primary segments: Investment Banking, Global Markets, Asset Management, and Wealth Management.

Renowned for its focus on innovation, Goldman Sachs has earned accolades including:

  • Best Business Model EvolutionCelent Model Bank 2022
  • Banking Platform Innovation – Platinum WinnerJuniper Research 2021
  • Best Online Treasury Services: Best Integrated Corporate Banking SiteGlobal Finance 2021

Through cutting-edge technology and customer-centric solutions, Goldman Sachs continues to redefine the financial services and transaction banking sectors.

Meeting the challenges of transaction banking innovation

When launching TxB, Goldman Sachs faced a significant challenge: building a cloud-native platform capable of delivering high-value payments, cross-border transactions, real-time insights, and advanced liquidity management. Legacy vendor solutions proved insufficient due to their siloed architecture, limited flexibility, and inability to meet the firm’s aggressive timelines.

Goldman Sachs required a partner that could deliver a scalable, API-first platform capable of supporting its ambitious growth targets while enabling rapid deployment and seamless integration.

How Volante helped Goldman Sachs

Goldman Sachs selected the Volante Payments Platform to power TxB due to its cloud-native architecture and comprehensive capabilities. The platform provided end-to-end support for high-value payments through US Fedwire, US ACH, and SWIFT for global operations, along with advanced liquidity management tools.

The collaboration enabled Goldman Sachs to process its first live payment within just five months, and the TxB platform launched successfully in eight months. Volante’s API-driven approach allowed for real-time access to payments and liquidity data, streamlining processes and simplifying feature integration. This flexibility resulted in the release of 50 new features within the first 18 months, continuously adding value for clients.

Luc Teboul

Volante met our top criteria for an ideal collaborator: modern cloud-native technology, deep payments and transaction banking expertise, and the ability and flexibility to deliver against aggressive deadlines.

Luc Teboul, Managing Director of Goldman Sachs Transaction Banking

Payments Modernization: Driving scalability, innovation and efficiency

The Volante Payments Platform enabled Goldman Sachs to deliver a transformative transaction banking solution. Its scalable cloud infrastructure ensured the platform could adapt to changing market demands while reducing operational costs.

By leveraging API-driven services, the TxB platform enhanced customer journeys, improved operational efficiency, and reduced processing costs. These capabilities allowed Goldman Sachs to execute its vision while providing superior value to its clients.

Delivering tangible business outcomes

The partnership between Goldman Sachs and Volante Technologies delivered remarkable results:

These outcomes solidified Goldman Sachs’ position as a leader in transaction banking, showcasing its ability to innovate and execute at scale.

Building a foundation for future growth

Goldman Sachs’ TxB journey with Volante Technologies has only just begun. The cloud-native platform positions the firm to scale operations, introduce new features, and respond quickly to evolving client needs. Future plans include enhancing treasury management tools, leveraging ISO 20022 messaging for richer data insights, and continuing to deliver value-added services.

This partnership not only enabled Goldman Sachs to disrupt the transaction banking market but also established a flexible, future-ready ecosystem that supports continuous innovation and long-term growth.

The Volante difference

Volante Technologies provided Goldman Sachs with:

  • A cloud-native, API-first payments platform designed for scalability and innovation.
  • Rapid deployment and seamless integration, with the first live payment in five months.
  • Advanced capabilities for high-value payments, cross-border transactions, and liquidity management.
  • Continuous feature releases, enhancing customer journeys and reducing costs.

This collaboration has enabled Goldman Sachs to achieve its ambitious goals, setting a new standard for transaction banking and demonstrating the transformative power of cloud-native technology.

Volante Technologies
Volante Technologies
Case Studies

Volante Technologies serves as the trusted payments modernization partner to over 150 financial businesses of all sizes worldwide. Our cloud-native payments as a service solutions and low-code financial platform give our customers the freedom to evolve and innovate at record speed.

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