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Goldman has just released software that allows clients to embed banking services into their own products as part of a push to break into the $32 billion a year industry managing cash for big corporations.
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The approach, dubbed banking-as-a-service, is inspired by what Amazon has accomplished with its cloud business. Just as Amazon enabled a generation of businesses to tap into cheap computing power, Goldman’s wager could spur the proliferation of digital wallets and seamless payments throughout the corporate and consumer realms.
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