Cogent Bank launches real-time blockchain-based payments via TassatPay® | national company

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NEW YORK–(BUSINESS WIRE)–June 28, 2022–

Tassat ® Group Inc., the leading provider of private real-time payment and B2B blockchain-based financial services solutions for banks, today announced that Cogent Bank, headquartered in Orlando, Florida, launched a fully integrated digital banking platform powered by Tassat. The private blockchain-based payment platform, now available to Cogent Bank’s business-to-business (B2B) customers, is the latest adoption of TassatPay by a bank for use in its customer transactions.

“We welcome Cogent Bank to the growing list of banks using TassatPay to facilitate real-time payments by their B2B customers,” said Kevin R. Greene, Chairman and CEO of Tassat. “TassatPay is the only blockchain-based real-time payment platform fully deployed within the US banking system. Working within our platform gives businesses confidence that their payments will be made safely, securely and in compliance with banking regulations.

Cogent Bank’s adoption of the TassatPay platform will enable its B2B customers to make real-time payments 24/7/365 to other Cogent Bank customers registered on TassatPay. TassatPay, which has processed over $450 billion in transactions, offers benefits such as immediate settlement, lower costs, enhanced security and privacy, and no limits on transaction size or volume. TassatPay also provides a one-stop shop for B2B payments – allowing a bank’s customers to transfer money instantly, automate payments with smart contracts, and connect to Fedwire within the same interface.

“We recognize that TassatPay will allow us to be competitive in today’s digital economy,” said Chirag Bhavsar, Chairman of Cogent Bank. “It has never been more important to provide our customers with instant payments using blockchain technology.”

The launch of TassatPay by Cogent Bank, through a deal originally announced in January 2022, follows record bank interest in TassatPay. Western Alliance Bank, Signature Bank, Customers Bank, Cogent Bank, and Axos Bank have deployed TassatPay to provide blockchain-enabled payments to their B2B customers.

About the Tassat Group

Tassat Group Inc. is a New York-based technology company that is the leading provider of private real-time blockchain-based solutions for commercial banks, including TassatPay, which enables banks to provide their customers with instant, secure payments and in real time 24 hours a day. 7/365. TassatPay has become the most trusted blockchain-based platform for the banking industry and its B2B customers with over $450 billion in real-time secure transactions to date. Tassat added Smart Contracts and Fedwire functionality to make TassatPay a one-stop-shop for B2B payments. Tassat received a 2021 Google Cloud Customer Award for Innovation in Financial Services. For more information, visit us at www.tassatpay.com, at Twitter or on LinkedIn.

About Cogent Bank

Cogent Bank is a state-chartered bank that has operated as a full-service business and personal bank since 2001. With over $1 billion in total assets, Cogent offers several banking centers in the North, Central and Southwest Florida. Cogent offers a wide range of lending, deposit, cash management and mobile banking services designed to meet the complex and diverse needs of its customers while remaining focused on the local communities it serves. For Cogent, banking is personal and requires innovative, high-quality services designed to facilitate the management of financial transactions. Cogent combines its financial expertise with a passion to learn more about its clients’ goals and objectives. For more information, visit www.cogentbank.com.

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KEYWORD: NEW YORK UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: PROFESSIONAL SERVICES BLOCKCHAIN ​​TECHNOLOGY OTHER TECHNOLOGIES FINANCE BANK

SOURCE: Tassat Group Inc.

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PUBLISHED: 06/28/2022 08:11 / DISK: 06/28/2022 08:12

http://www.businesswire.com/news/home/20220628005259/en

Copyright BusinessWire 2022.