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Societe Generale and Goldman Sachs to back Aztec Money.

Global Banking News-January 30, 2015--Societe Generale and Goldman Sachs to back Aztec Money

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Global Banking News - 30 January 2015

Societe Generale (SOGN.PA) and Goldman Sachs (NYSE: GS) are among several banks that are looking to back Aztec Money, an emerging peer-to-peer financing platform.

Aztec Money recently created an online market place where people can bid for company invoices. The idea of peer-to-peer structures is to bypass banks by linking people who have money to invest with individuals or companies that need it. However, as the segment has grown, firms are turning to large banks for extensive funding.

Aztec Money claimed that its services plug gaps left by retreating banks and brings trade finance to emerging markets that would otherwise have little or no access to it.

[Editorial queries for this story should be sent to gbn@enpublishing.co.uk]

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Publication:Global Banking News (GBN)
Date:Jan 30, 2015
Words:156
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