The TIPS reachability deadline is approaching!

If you are participating in an SCT INST scheme and are reachable in TARGET2, then you must become reachable in a TIPS account before the end of 2021.

The ECB has defined 3 options for your Instant Payments interoperability, and TAS Group can help you implement your operating model quickly and smoothly:

C - To instruct in TIPS directly, TAS supports the interconnection to any NSP (SWIFT or SIA-Colt), the messaging interface to TIPS and the Instant Payments processing. To settle in TIPS, TAS supports you in accessing your Dedicated Cash Account and managing your liquidity.

B - If you’re thinking of opting for a hybrid model, we can combine your DCA management with ACH processing.

A - If you prefer to delegate everything to the ACH, in addition to supporting you with the processing, we can help you manage the liquidity directly on EBA RT1.

Whatever you decide, you’ll need to act fast as user tests will start in September and go-live in December 2021.

Contact us for a free consultancy on the best suitable option for you.


Why TAS Group 

At TAS Group, over the past few years we've been working with banks, large and small, helping them to prepare for the new Eurosystem Central Platform. We've supported these financial operators both individually as well as through a collaborative approach with partners such as Accenture and KPMG with whom we've led an interbank working group with more than 100 professionals.

Find out more about TAS expertise and our state-of-the-art cloud- or on-premise software solutions that allow banks to best leverage the new rich features of the Consolidated TARGET Services, including Instant Payments through TIPS, TARGET2 with the ISO20022 based application protocol, and the new Eurosystem Collateral Management System (ECMS), a real game changer for Banking Treasurers.

Our network connectivity and financial messaging solutions sit at the heart of the Eurosystem’s market infrastructures and are trusted to manage millions of payment messages each day.

FinextraTV: Mandatory pan-European reachability for Instant Payments: How to choose

Mario Mendia, SVP Capital Markets & Treasury, TAS Group, speaks about the reachability of instant payments in TIPS across the Pan European Landscape, how payment service providers are implementing interoperability, the impact this is having on banks’ liquidity, and how TAS group is supporting them.

Watch the interview

Finextra Interview

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