Eleven European banks have formed a nonexclusive association called the Trans-European Banking Services Group to provide transnational banking services aimed at businesspeople.

Initially, the association will offer the banks' clients simplified ways to open accounts through any of the member banks' branches. The association is also studying ways to make account information available through any member bank branch and offer simplified access to the payment system of each country.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.