Introducing The Digital Interbank Network, powered by Tassat.
Introducing The Digital Interbank Network, powered by Tassat.
TassatPay enables banks to provide their corporate clients with secure, real-time payments 24/7/365.
With over $1.4 trillion in secure, real-time transactions, TassatPay is the most trusted blockchain-based platform for FDIC-insured banks.
With features built for specific industries, Tassat helps you deepen relationships with existing corporate clients and target new verticals.
Tassat provides a secure on-ramp to the digital economy, allowing you to offer your corporate clients powerful new services.
With a clean, easy-to-use interface, Tassat makes your bank the place where corporate clients want to do business with their trading partners.
TassatPay facilitates blockchain-based payments without the security concerns, high volatility, and energy consumption of public blockchains, allowing commercial banking clients to adopt blockchain technology while adhering to corporate ESG targets. Built by a world-class team with deep knowledge of core banking systems, Tassat’s blockchain-based platform securely integrates with platforms like FIS, Fiserv, Thought Machine and Jack Henry.
Tassat works with both state and federally regulated banks.
TassatPay utilizes a private permissioned blockchain-based platform, giving corporate clients easy access to the digital economy and enabling a bank to deliver powerful new features and services 24 hours a day, 7 days a week, 365 days a year.
Tassat’s mission is to provide FDIC-insured banks with the tools to compete and win in an increasingly digital economy.
Reduced Risk & Closing Costs
Efficient Payables and Receivables Management
Efficient Trade & Settlement Process
Capital Call Payment Scheduling
Efficient Borrowing and Payments Process
Processes Tracked and Automated
Automated Claims Processing
Streamlined Franchisor/Franchisee Ecosystem
In November 2023, Tassat won the 2023 Payments Tech of the Year award at the annual U.S. Fintech Awards ceremony.
Tassat streamlines $50 trillion B2B bank payments market with blockchain-based solution on Google Cloud for excellence in using cloud technologies.
© 2022 Tassat Group Inc.
Tassat is not a bank and does not provide deposits or other banking products. Tassat makes no representation regarding the products issued by its customers using Tassat technology.
Challenge:
Franchisors and Franchisees are in constant need of providing payments between each other for various fees and royalties with different frequencies and terms, creating an administrative burden.
Opportunity:
Introducing TassatPay into the various franchisee/franchisor ecosystems give them the ability to manage all their interactions and transactions in a streamlined fashion which can be customized in unlimited ways using Smart Contracts.
Result:
Challenge:
Between the healthcare provider, hospitals, and insurance companies there are multiple payment layers that exist within this ecosystem that need innovation and modernization.
Managing payments between parties in the healthcare system is slow, vulnerable to hacking, results in high fees over time, and is not transparent.
Opportunity:
TassatPay provides a secure, transparent, and traceable method of payment for all parties. Smart Contracts will automate workflows where recurring payments exist and enable intelligent permissions for access to patient data in compliance with a patient’s consent policy
Result:
Challenge:
Mortgage warehousing involves a labor and paper intensive process where timely payment and proper allocation of proceeds matters.
Opportunity:
All of these processes can be tracked and automated with smart contracts built on Tassat’s blockchain technology. Once a lender has agreed to underwriting and loan terms with a mortgage warehouse borrower, those terms and conditions can be captured in a smart contract. Drawdowns on the line of credit can then occur automatically with documentation included. Similarly, when a mortgage is sold by the originator, the sale proceeds can automatically pay down the line of credit tied to that loan.
Result:
Challenge:
In the commercial construction industry, both developers and lenders to developers want to make sure funds are being used properly and general contractors are paying sub-contractors in a correct and timely manner.
Opportunity:
Once terms are agreed to between the lender and the developer, those terms can be captured in a smart contract which then executes automatically when the agreed upon terms are met. Similarly, developers can set up sub-contractors to be paid automatically when the general contractor is paid, based on agreed upon criteria amongst the parties.
Result:
Challenge:
Capital calls are essential to the business but a nuisance for both limited partner investors in the funds and the private equity general partners who manage the funds. Countless hours are wasted transmitting, receiving, inputting and checking wiring instructions. The potential for misplaced funds and fraud are both enormous and getting worse.
Opportunity:
With TassatPay, a general partner can offer its limited partners a link to schedule payment as part of the capital call.
Result:
Challenge:
Goods do not move until payment is made. Airplanes, trucks, ships and railroads operate 24/7/365, including holidays — not just from 9 to 5 Monday through Friday when banks are open. Cargo sitting in a ship, truck, train car or airport warehouse waiting for payment is a costly proposition.
Opportunity:
CargoSprint used TassatPay to revolutionize and grow their logistics business. Instead of deploying check printers in remote offices and having messengers carry checks around, as it had done for years, CargoSprint adopted TassatPay and private labelled it “SprintPay.” CargoSprint then offered discounts to customers who moved accounts to the bank using TassatPay as well as paying premiums to vendors doing the same.
Result:
Any corporate customer with large logistics demands and multiple vendors and clients can benefit in a similar manner as CargoSprint did, as can entities operating facilities such as shipping ports, transportation hubs and airports.
Challenge:
Corporate CFOs need to manage cash flows which requires knowing when inflows and outflows occur while also trying to control discounts and late payment fees.
Collecting receivables, managing payables, and controlling pricing policies, including discounts and late fees, is a frustrating, labor intensive, and time-consuming process.
Opportunity:
In any industry, a corporate CFO can agree to terms via a smart contract to offer discounts for early payment and penalties for late payment. The smart contract then applies the appropriate discount or penalty automatically once funds arrive at the bank. Scheduled payments also providing greater visibility for cash inflows and outflows.
Result:
Challenge:
Private equity firm very active in buying and selling ships, involving owners, investors, and banking relationships around the world.
Once legal terms were agreed upon and executed, moving funds to close the transaction could take weeks, incurring significant labor and legal expenses as well as the risk of a party not fulfilling its obligations.
Opportunity:
Firm now insists that all parties to a transaction open an account at the bank using TassatPay so that a transaction can close within minutes of legal documentation being executed.
Result:
