Home > News > featured news > Cogent Bank Offers TassatPay to Make Real-time, Blockchain-Based Payments

BLOCKCHAIN

Cogent Bank Offers TassatPay to Make Real-time, Blockchain-Based Payments

Tassat Group Inc | January 13, 2022

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™.

Spotlight

When did you last upgrade your Temenos system?

Developing products and services to match the changing preferences of cost-conscious customers is hard and getting harder. Meanwhile, a proliferation of digital banking channels is making the technical infrastructure increasingly complex and difficult to grasp. And keeping up with evolving technologies is no easier.

More featured news

Spotlight

When did you last upgrade your Temenos system?

Related News

CORE BANKING, PAYMENTS

Pulsate Announces Integration with Q2’s Digital Banking Platform

Businesswire | April 24, 2023

Pulsate is pleased to announce its integration with Q2’s Digital Banking Platform, via the Q2 Partner Accelerator Program partnership. The Pulsate platform enables credit unions and community banks to grow wallet share and deepen member relationships in the mobile channels. The integration makes Pulsate’s mobile-first platform available within Q2’s Digital Banking Platform, enabling Q2 customers to drive member engagement, conversions, and revenue through data-driven personalized, relevant, and localized mobile communications. The Q2 Partner Accelerator is a program through the Q2 Innovation Studio that allows in-demand financial services companies who are leveraging the Q2 SDK to pre-integrate their technology into the Q2 Digital Banking Platform. This enables financial institutions to work with these partners, purchase their solutions and rapidly deploy the standardized integrations to their customers. Pulsate uses in-depth data to segment and profile consumers and match them with the right product and service offerings. It intelligently triggers these personalized messages to be delivered to consumers, in the mobile channels, at the right time and in the right place, increasing engagement rates. Leveraging real-time behavioral analytics, Pulsate follows consumers on their decision-making journey, automating the delivery of next-best messages based on real-time actions, which increases conversion rates and revenue. “We are delighted to now be able to offer our solution through Q2’s Digital Banking Platform, enabling financial institutions to optimize revenue and engagement through their mobile marketing channels. The financial service sector has a 79% opt-in rate for mobile marketing, the highest across all industries and 72% of consumers say that the personalization of communications in this channel is a key factor in their choice of financial providers and products” says Sarah Martin, CEO Pulsate. “With Pulsate, financial institutions can now harness the opportunity that mobile marketing presents in a highly personalized and relevant way for their consumers. Existing customers report a 28x improvement in response rates when using Pulsate for mobile marketing compared to generic banner ads, traditional mobile and email marketing tactics.” About Pulsate Pulsate is a mobile first, personalized member engagement platform. The platform enables customers to optimize revenue and engagement through their mobile channels with data driven personalized, localized, and relevant mobile marketing communications. Pulsate works with over 250 credit unions and community banks reaching 19 million consumers. The company’s investors include CMFG and Pulsate is partnered with the CUNA Mutual Group. To learn more please visit www.pulsatehq.com About Q2 Holdings, Inc. Q2 is a leading provider of digital banking and lending solutions to banks, credit unions, alternative finance, and fintech companies in the U.S. and internationally. Q2 enables its financial institutions and fintech companies to provide comprehensive, secure, data-driven digital client engagement solutions – from consumers to small businesses and corporate clients. Headquartered in Austin, Texas, Q2 has offices throughout the world and is publicly traded on the NYSE under the stock symbol QTWO.

CORE BANKING, FINTECH

Kennebec Savings Bank Introduces Digital Banking Platform of Alkami

Kennebec Savings Bank and Alkami Technology | March 09, 2023

On March 8, 2023, Alkami Technologies Inc., a top cloud-based digital banking solutions provider for US banks and credit unions, announced that Kennebec Savings Bank has introduced the Alkami Digital Banking Platform. With an integrated solution from Alkami and a single commercial, retail, and mobile banking platform, Kennebec can now give its customers a smooth digital banking experience. Kevin Dono, Senior Vice President and Chief Information Officer of Kennebec, stated, "We needed a flexible and reliable solution that would deliver the functionality our customers want now while also being able to evolve to meet their long-term needs." He added, "One of our key goals is to expand support for local businesses. Alkami's platform enables us to provide a seamless and consistent user experience for our business customers by giving them access to all accounts through a common user interface within a single system. Self-service capabilities help them manage multiple accounts and enable functionality options for individuals through permission settings." (Source – Cision PR Newswire) The Alkami Platform lets Kennebec use data to improve the customer experience by making communication more personal. In addition to providing customers with capabilities for self-service banking through mobile and desktop applications, Kennebec can also provide customers with these capabilities. Alex Shootman, Alkami's Chief Executive Officer, expressed, "We are excited to support Kennebec's efforts to go beyond the traditional banking footprint and further empower and engage with customers." "The Alkami Platform, combined with Kennebec's outstanding service, will position them to deliver even greater value and service benefits to both current and future customers," he concluded. (Source – Cision PR Newswire) About Alkami Technology Alkami Technology, Inc., a significant producer of cloud-based digital banking solutions for US financial institutions, enables customers to grow their companies confidently, respond quickly to changing situations, and build thriving digital communities. The company's retail banking and business banking services, digital account opening, loan origination, and multi-payment fraud protection solutions are some ways the company helps clients modernize. About Kennebec Savings Bank Kennebec Savings Bank gives people and businesses the financial knowledge and services they need to reach their goals. The organization achieves this by leveraging 153 years of honest business practices, developing relationships based on trust and respect, and generously donating back to the communities it serves. Based in Maine, Kennebec Savings Bank is a community bank that values service, teamwork, and community.

PAYMENTS, FINTECH

MODIFI partners with Airwallex to launch Global Account Solution for smooth and flexible cross-border B2B payments

Newswire | May 22, 2023

MODIFI, a global commerce platform for business payments, announced a partnership with leading global payments and financial platform Airwallex to launch a streamlined, innovative, and secure solution for transferring money across multiple regions. Leveraging Airwallex's global payments and financial infrastructure, MODIFI has created Global Account Solutions, a payment tool which facilitates a seamless payment integration for exporters in China and large buyers around the world, by addressing the complexities and high costs of cross-border payments and invoice financing. Cross-border payments are associated with high costs, longer payment terms, limited access, and lack of transparency. Banks, which are typically dominant in global business payments, tend to favor larger companies, leaving emerging SMEs struggling to find affordable and flexible global payment services. As a result, there is a demand for efficient and cost-effective cross-border payment solutions. MODIFI has embedded Airwallex's payment infrastructure to provide Global Account Solutions for exporters around the globe who are seeking sustainable growth in their international business. This solution simplifies the financing and collection process for buyers and sellers across multiple regions, including North America, Europe, and Asia. MODIFI Global Account Solution is designed to address the financing pain points of B2B exporters, as well as meet the cash flow needs of e-commerce marketplace vendors and non-traditional businesses. MODIFI supports major platforms such as Walmart, JD Worldwide, Amazon, Wayfair, Tmall International, Coupang, and Temu. By optimizing cashflow, bridging financing gaps, and providing support for Chinese exporters, MODIFI facilitates cross-border e-commerce platforms. Wenlong Huang, General Manager of MODIFI Greater China, said, "The innovative solution with Airwallex builds convenient cross-border payment and financing services for Chinese exporters and helps them to speed up the working capital cycle and increase profit margins." Commenting on the partnership, Pranav Sood, GM, EMEA at Airwallex, said, "Moving money around the world can be incredibly restrictive, time-consuming and costly. Airwallex's global financial infrastructure coupled with MODIFI's digital commerce payments platform, will simplify the way businesses can grow across borders. We're excited to work with MODIFI and further empower businesses to reach their global ambitions." Sven Brauer, COO of MODIFI, said, "We're offering this solution not only to Chinese exporters but also to exporters outside of China. It eases trade bottlenecks and tackles liquidity issues, benefiting exporters struggling with financing and collection solutions." About MODIFI MODIFI was founded with one aim - to make trade seamless and transparent for businesses around the globe. We are challenging the status quo for exporters and importers alike. With MODIFI they gain full control of cross-border trade -- against all odds of supply chain disruptions. How? We offer a one stop platform for business payments and trade management.