Banks to get a slice of B2B pie?

Will banks merely be the gas stations of the e-commerce superhighway? Goldman Sachs predicts that unless banks respond to the raised bar, they are in danger of marginalization.

Banks and telecommunications companies will be key enablers of business to business B2B e-commerce, not key drivers. This was concluded in a report on Asian B2B e-commerce by Goldman Sachs internet analysts.

Big global banks are in a prime position to take a cut in B2B transactions, given their strong capabilities in payments, cash management, international trade, and counterparty risk-taking. Goldman believes that if these banks are able to focus on these core competencies and leverage off these traditional roles and strengths, they will be one step ahead of competition.

Big global banks have a huge international technology infrastructure that they can leverage off for B2B, says Joseph B. Lee, internet analyst at...

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