Transaction Banking
ABN AMRO was acquired by the consortium of Fortis, RBS and Santander in October 2007. On 3 October 2008, the Dutch state announced that it has bought Fortis Nederland, including its interests in ABN AMRO, replacing Fortis as a stakeholder in RFS Holdings, which continues to manage ABN AMRO.
ABN AMRO’s Business Unit Transaction Banking is in the process of being split between RBS and the part of ABN AMRO that is owned by the Dutch government. Both banks will acquire key components of the transaction banking capabilities and some of the most important ones, such as Access Online, will be made available for both parties.
RBS
The parts of Transaction Banking that will go to RBS will be part of RBS’s Global Transaction Services (GTS) – a new division of the RBS Global Markets business. GTS comprises cash and liquidity management, trade and supply chain, global merchant services and commercial cards for RBS’s corporate, financial institutions and public sector clients. With extensive international reach, RBS GTS ranks among the top five payments businesses in the world, combining ABN AMRO’s world-class capabilities and award-winning technology in international payments with RBS’s substantial existing corporate transaction banking and merchant acquiring activities.
ABN AMRO
The parts of Transaction Banking that will go to the Dutch owned part of ABN AMRO will be part of the new Transaction Banking Business Unit within Commercial Banking.
ABN AMRO’s Transaction Banking will continue to deliver the same high level of international transaction banking services as our clients expect. The award-winning transaction banking capabilities encompass working capital optimisation, treasury and investment management, payables, receivables, trade finance and services and commercial and consumer cards for the commercial sector and euro-clearing for financial institutions world-wide.
Transaction Banking facilitates its clients in paying, receiving and managing liquidity by ensuring that their transactions are safe, efficient and easy.