Transform Your Bank into a High Growth Financial Services Powerhouse

TassatPay offers a seamless, secure path to private permissioned blockchain-based commercial banking.

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Introducing The Digital Interbank Network, powered by Tassat.

Connect to the Growing Digital Economy

TassatPay enables banks to provide their corporate clients with secure, real-time payments 24/7/365.

With over $900 billion in secure, real-time transactions, TassatPay is the most trusted blockchain-based platform for FDIC insured U.S. banks.

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Your Gateway to the Future of Digital Banking

Tassat’s private blockchain-based technology delivers instant settlement with no transaction limits and full audit capabilities, maximizing your balance sheet while minimizing counterparty risk. Tassat has added Smart Contracts and Fedwire functionality to make TassatPay a one-stop-shop for B2B Payments.

With TassatPay, every transaction is fully backed by deposits in trusted, FDIC insured banking institutions.

Expand Your Offerings

With features built for specific industries, Tassat helps you deepen relationships with existing corporate clients and target new verticals.

Unleash the Power of Blockchain

Tassat provides a secure on-ramp to the digital economy, allowing you to offer your corporate clients powerful new services.

Transform your Digital 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.

Security you can Bank On™

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.

In 2021, Tassat successfully completed a System and Organization Controls (SOC) 2® Type II independent audit, which evaluates a firm’s handling of data security, privacy and confidentiality safeguards, receiving an unqualified opinion – the highest level possible – from the auditors.

Tassat works with both state and federally regulated banks.

AICPA - SOC 2
Banking / Security

How Tassat Works

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.

Use Cases

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Maritime Finance

Reduced Risk & Closing Costs

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Working Capital Management

Efficient Payables and Receivables Management

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Logistics

Efficient Trade & Settlement Process

Financial building

Private Equity

Capital Call Payment Scheduling

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Commercial Construction

Efficient Borrowing and Payments Process

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Mortgage Warehousing

Processes Tracked and Automated

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Healthcare

Automated Claims Processing

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Franchise Finance

Streamlined Franchisor/Franchisee Ecosystem

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Customer award winner

Tassat streamlines $50 trillion B2B bank payments market with blockchain-based solution on Google Cloud for excellence
in using cloud technologies.

In the News

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Franchise Finance

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:

  • All parties can streamline their processes leveraging blockchain technology and smart contracts and create a frictionless ecosystem for efficient payments. 
  • Payments can be made 24/7/365 with no limits on transaction size.
  • Large opportunity for banks to lead the effort for efficiency in this space and become an embedded value-added partner.
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Healthcare

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:

  • Large opportunity for banks to enter this vertical with a solution that will add value immediately
  • Provides a secure, transparent, fast, and traceable method of payment that does not require third-party payment vendor services
  • Minimize fraud and the costly payment disputes that can occur with a less secure and traceable payment method 
  • Reduce patient documentation errors and ensure the secure storage and transfer of patient information
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Mortgage Warehousing

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:

  • More efficient, less labor-intensive processes
  • Less potential for fraud
  • Clear tracking of loan sales to repay lines of credit
  • Better collateral and credit risk management
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Commercial Construction

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:

  • A much more efficient borrowing and payments process
  • Greatly reduced potential for fraud
  • Benefits available around the clock and not just during normal “banking hours”
  • Provides ability to better manage lending risk for the construction lines of credit
Financial building

Private Equity

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:

  • All of the labor wasted instructing and executing the sending of funds is gone.
  • The general partner does not waste valuable time tracking down payments and, instead, has greater predictability and certainty of receipt of funds.
  • The potential for fraud is dramatically reduced.
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Logistics

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:

  • Rapid revenue growth as CargoSprint now enjoyed a competitive advantage relative to peers who could not match TassatPay’s speed, efficiency, fraud prevention, and 24/7/365 availability
  • Lower cost of serving clients
  • A dramatic reduction in preventing, investigating and remediating fraud

 

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.

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Working Capital Management

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:

  • Much less time spent tracking down payments
  • Greater control over discounts/penalties and cash flows
  • Payment terms and policy changes can also be implemented more efficiently and effectively by your corporate client
  • Bank becomes the indispensable conduit between a corporation and its clients and vendors, deepening the bank relationship and creating new lending and financial services opportunities
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Maritime Finance

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:

  • The firm has lowered the costs and the risks involved in closing transactions.
  • The bank has acquired dozens of new corporate relationships as the parties recognize the benefits of TassatPay, leading to additional escrow deposits and transactions for the bank as well as large corporate clients which the bank can cross-sell additional banking products.
  • The firm has also worked with the bank to develop a mobile app for the transactions to make it even easier and swifter and is also exploring smart contract solutions.