Derivative Path, a leading provider of capital markets technology and derivatives execution services to regional and community banks, announced it is collaborating 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 payment 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.

“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 technical sophistication and flexibility to the regional and community banking sector in the US,” said Pradeep Bhatia, CEO & Co-Founder of Derivative Path. “The launch of our joint solution with Goldman Sachs substantiates our mission of delivering a new wave of innovation to these firms.”

“Regional and community banks now have access to the same global payments capabilities as large money centre banks,” said Art Brieske, Global Head of Payments for Goldman Sachs Transaction Banking. “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.