Tassat Group Inc. and Cogent Bank have recently announced that Cognet’s bank B2B clients can access TassatPay, the blockchain-based, real-time payment platform. This will be fully deployed within the U.S. banking system. TassatPay enables banks to provide a secure platform for all payments, 24/7/365.
While this partnership news was released, Chirag Bhavsar, president of Cogent Bank, shared some details. He says, “Providing our B2B clients with immediate payments using the power of blockchain technology, in a regulatory-compliant manner, is critical for competing in today’s fast-paced digital economy. 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.”
Banks of all sizes are turning to TassatPay™. By having it in their banking system, they can compete and win in an advanced digital economy. We are delighted Cogent Bank has selected Tassat to provide the platform to facilitate secure and real-time payments using a private blockchain to serve its B2B customers.”
Ron Totaro, CEO, Tassat Group
The partnership of Cogent Bank and Tassat Group Inc. follows banks' interest worldwide in TassatPay. Recently, Tassat Group has also signed an agreement with Customers Bank to provide blockchain-enabled payment capabilities. Based on the agreement, Customers bank witnessed additional deposits worth $1.5 billion at the end of its third-quarter on Sept. 30, 2021. Apart from this, Western Alliance Bancorporation also announced implementing a fully integrated digital banking platform for its customers through TassatPay™.