Ask a transaction banker to describe their business and they may say it is core to what banks do. Existing for as long as banking itself, its products and services keep the wheels of the real economy in motion.
To those working in the industry, transaction banking has always been important, but in recent years the business has been steadily getting more recognition from others. “A lot of banks have woken up to the potential [of transaction services],” says Naveed Sultan, global head of treasury and trade solutions at Citi.