Cogent Bank’s B2B clients to benefit from instantaneous, secure, real-time payments 24/7/365
Tassat Group Inc., the leading provider of blockchain-based, real-time solutions to banks, and Cogent Bank, a full-service commercial and retail bank, announce Cogent Bank’s B2B clients will have access to TassatPay, the only blockchain-based, real-time payment platform fully deployed within the U.S. banking system. TassatPay enables banks to provide their clients with instantaneous, secure, real-time payments 24/7/365.
“Providing our B2B clients with instantaneous payments using the power of blockchain technology, in a regulatory-compliant manner, is critical for competing in today’s fast-paced digital economy,” says Chirag Bhavsar, president of Cogent Bank. “Our B2B clients recognize that blockchain-enabled payments offer better fraud protection, faster settlement, reduced inefficiencies and lower costs that benefit their clients. Most importantly, TassatPay™ can be adopted without disruption to our operations and the services we provide to our clients.”
Latest Fintech News: NSAV and Vagabond Announce 2022 Roadmap for Their Partnership
Added Tassat Group CEO Ron Totaro, “Banks of all sizes are turning to TassatPay™ so they can compete and win in an increasingly digital economy. We are pleased Cogent Bank has selected Tassat to provide the platform to facilitate secure, instantaneous, real-time payments using a private blockchain and look forward to partnering as it serves its B2B customers.”
The agreement with Cogent Bank follows record interest by banks across the country in TassatPay™. Cogent Bank is the latest institution to turn to New York City-based Tassat Group, the engine behind the largest bank provider in this space. Tassat Group also recently signed an agreement with Customers Bank to provide blockchain-enabled payment capabilities, resulting in $1.5 billion in additional deposits at the end of its third quarter on Sept. 30, 2021. In addition, Western Alliance Bancorporation announced that it will implement a fully integrated digital banking platform for its customers powered by TassatPay™.
Latest Fintech News: NXTsoft Partners with Integra Software Systems for Fintech-to-Financial Institution API Connectivity
About Cogent Bank’s Capabilities Through TassatPay
The TassatPay platform enables Cogent Bank’s clients to use a private blockchain to execute real-time payments and settlement to improve business processes, reduce costs and stay ahead of the competition. With the TassatPay™ platform:
- Cogent Bank’s clients can make real-time payments securely and instantaneously 24 hours a day, seven days a week and 365 days a year;
- Cogent Bank’s clients will reduce processing and payment costs by minimizing the inefficiencies of traditional invoicing and payment processes and eliminating payments downtime; and,
- Cogent Bank can participate in all digital banking solutions such as smart contracts, T+0 settlement and foreign exchange transactions.
Latest Fintech News: Cantor Fitzgerald and Capital Innovations Announce Plans to Launch Sustainable Infrastructure Fund
[To share your insights with us, please write to sghosh@martechseries.com]
