Like us, you may have been watching with interest the developments concerning the new consolidated Target services platform and in particular the calls for an extension to the migration deadline. The big-bang migration is now expected to be moved to 22 November 2022, a year later than scheduled, following requests made to the ECB’s Governing Council by four European banking bodies (EBF, ESBG, EACG and EAPB) to shift the deadline, citing impacts from the COVID-19 pandemic and SWIFT’s decision to delay the ISO 20022 migration for cross-border payments as the main reasons. The decision by the ECB is expected at the end of July. Stay tuned.
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Cascade visited TAS Headquarters
We were very pleased to welcome Cascade’s CEO Spencer Schmerling and VP of Compliance Sarah Zeal to our Italian offices in Bologna, Rome and Milan.
As a US-based Banking-as-a-Service provider, Cascade provides Mobile Banking Services, Card Issuance, and Enrolment for card programs as well as a web-based banking portal, mobile app, and contactless payment capabilities.
Cascade was TAS's first US customer, and has launched a number of card programs with Mastercard and Visa using TAS's Card Issuing and Processing software. The project, which involved the integration into the American interbank clearing house (ACH), was completed in Q4 2020, and the first card programs launched in Q1-Q2 2021.
At the end of November, Spencer and Sarah came to visit TAS to get an update on the company and its offering and learn of the product and service roadmap.
“We are very happy with this visit and very impressed with the members of the senior leadership team who we met. We are very confident with TAS's deep knowledge of the payments sector and its ability to provide innovative solutions to the market”, Cascade's CEO Spencer Schmerling said.
“We appreciate the trust Cascade put in TAS and in our ability to create and deliver solutions and services around the world”, TAS CEO Valentino Bravi added.
“We enthusiastically welcomed Spencer and Sarah to Italy. We have built a strong partnership with Cascade that we are sure will lead to new interesting projects in the future” Peter Caiazzi, SVP Product Development, TAS International commented.
TAS strengthens its e-money offering with the acquisition of Nemos Srl
Milan - November 14, 2022 - TAS S.p.A., a leading company in Italy in the supply of software and services for banking and financial applications, and the head of a group of companies of the same name (the "TAS Group") also present in Europe and America, today announces the acquisition by its subsidiary Global Payments S.p.A. of the entire share capital of Nemos Srl (hereinafter "Nemos"), a company that provides software solutions and consulting services for the e-money sector.
Nemos is a point of reference in the Italian panorama for the development of "on demand" solutions, born with the mission of facilitating the management of payment instruments by favoring ease of use, flexibility, high degree of customization, connectivity and containment of final costs.
For TAS, this is the third acquisition since July 2021, after ASTRO IT and Krisopea.
Fabio Bravi, Head of M&A, Special Projects and Corporate Developments of TAS comments: “One of the main pillars on which we want to base our growth is certainly e-money and this acquisition goes in that direction. Nemos is a player recognized by the market and we share our mission and values with them. Also, at the heart of TAS action is the desire to offer our customers increasingly customizable, flexible and technologically advanced solutions. For this reason, we were immediately in tune with Nemos and we are sure that this acquisition will enhance our ability to create customer-tailored services ".
“TAS is a reality that we know well and that qualifies as one of the main players in the payments sector in Italy, and beyond. We are convinced that this acquisition will allow us to further develop our skills on a larger scale by joining a group that is investing in innovation and growth both nationally and internationally ", say Claudio Vecchia and Gianluca Sisti, Directors of Nemos.
TAS was assisted in the transaction by KPMG as financial advisor and by Lexia Avvocati for the legal aspects, while Nemos was assisted by the financial advisor Andrea Lavorenti and the legal advisor Andrea Zoppolato, partner of Buonocore Galletti Zoppolato Avvocati.
TAS transforms its brand to reflect the new vision of the Group
Milan, 22 September 2022 - The rebranding unveils a new logo and a completely revised website for a tailored customer experience
The new governance and the delisting from the stock exchange, completed in the first half of 2022, has opened a new chapter for TAS, a leading Software Provider specialized in financial services and platform solutions, with offices in 9 countries spanning Europe and the Americas.
This new chapter has triggered a corporate rebranding that reflects the company's recent transformation, but above all its ambition to accelerate growth internationally.
Founded in 1982 and then a pioneer in the digitization of payment and finance processes for the Italian banking sector, TAS has over a 40 years period evolved to become a key solution provider, supporting the evolution of financial transactions, while extending its operations and capabilities internationally.
In today's increasingly open and competitive market landscape, TAS stands out as an enabler of new customer journeys for established players as well as new market entrants. As a reliable partner, TAS is able to propose innovative technological solutions that allow clients to increase and strengthen their market positioning.
The new group logo is inspired by TAS' ability to evolve, while ensuring consistency and stability in its services and platform solutions.
“The graphics accompanying our new logo express these concepts through the color gradient that changes within a coherent shape, always maintaining the harmony of the final solution” explainsMarina Jacobone, Marketing Director of TAS. “The components of the symbol adapt to be able to live independently but also united, to work together and at the same time to be able to easily integrate the new, represented by the orange shape. For TAS, modularity is key. "
TAS's mission revolves around the keyword "simplify":
- simplify technological complexity so that customers can focus on their business;
- simplify the adoption of new applications thanks to the modularity of the solutions and their cloud capabilities;
- simplify compliance with standards and regulations by providing solutions that can be easily integrated with the client’s existing solutions;
- simplify project management by entrusting them to the experience of TAS.
A constant commitment to conceive and provide future-proof solutions that facilitate the evolution of financial services at a domestic and cross-border level, favouring the harmonious development of the entire ecosystem for the benefit of banks, investors, businesses, citizens and the general public.
" 2022 was a significant year for us given the investment by Rivean Capital Fund. Rivean gave us new resources to dedicate to the many projects we are investing in, but also helped accelerate the effective roll -out of our unique Global Payment Platform, which is already seeing significant interest across multiple verticals in non-banking industries, such as Insurance, Retailers, On-line Merchants, Utilities and more. "comments CEO Valentino Bravi -" Via this new brand, we wanted to communicate the step change of pace by TAS, while referring to the spirit of our teams, founded on deep expertise and driven by enthusiasm, curiosity and creativity. "
The new website is now live at www.tasgroup.eu
TAS Group earns again its place in the 2022 IDC FinTech Rankings
Milan, September 13, 2022 – TAS Group, a global provider of innovative solutions in card management, digital payments, financial messaging and capital markets, has announced that it has been ranked among the Top 100 in the 2022 IDC FinTech Rankings for the 14th consecutive year. The IDC FinTech Rankings evaluates and categorizes the top IT vendors based on 2021 calendar year revenues and the percentage of revenues exclusively attributed to financial institutions, including banks, capital markets firms, and insurers or directly to fintech solution providers for hardware, software, and/or services.
“IDC is honored to recognize the technology providers that appear on the 19 th annual IDC FinTech Rankings,” said Marc DeCastro, Research Director at IDC Financial Insights. “These are the companies that have shown commitment to the financial services industry and their appearance on the list is a testament to that dedication.”
Valentino Bravi, Chairman and CEO at TAS Group, remarked, " We really appreciate our inclusion in this renowned and independent Ranking, year after year. In 2021 TAS’s resilience and continuous improvements were also recognised by the VC world, with the acquisition of majority control of the company by Rivean Capital private equity. Excelling in Financial Technology to support the Banking Industry and new challenger enterprises navigate disrupted market forces is our first commitment; one that we pursue with passion and tireless teamwork."
Andrew Quartermaine, COO International Markets, added, " There is a clear need for SW Solution providers who understand the Open Finance market, a landscape being significantly reshaped by the regulatory environment in Europe and beyond. Given TAS’ size and experienced track record, we can show outstanding flexibility, ensuring effective partnerships and growth together with our customers.”
The impact of technology on business and human life is becoming more and more strategic in the last decade. Collaboration and innovation are key recipes for leading technology suppliers, such as TAS, who has been strongly leveraging cloud and open API technology to build SaaS enabled platforms for banks, improving their time to market and ability to adapt rapidly to changing regulatory demands.
TAS Global Payment Platform (GPP) has its roots in synergistic integration of software components in the fields of transaction banking, financial value chain services, cards and account-based payments. Conceived “as a service” to both incumbent and challenger players of the Payments Ecosystem, its rich set of APIs allows seamlessly integration with existing architectures, and with modern, white-labelled BaaS solutions.
At Eurosystem level TAS continues to support Europe’s financial community in meeting T2/T2S Consolidation deadlines, ECMS and SWIFT FIN’s migration towards ISO20022.
In the Issuing and Acquiring domain TAS continues to attract a growing FinTech customer base throughout Europe and the Americas based on the extreme flexibility and embedded compliance of its solutions.