Insights

Optimize the buying experience, increase sales, reduce fraud

As online fraud continues to grow a pace, a trend that has been accelerated by the pandemic, effective, smart, frictionless customer authentication is now vital.

In this white paper we explain how 3-D Secure 2 (3DS2):

- optimizes the buying experience, increases sales and reduces fraud
- offers a smart way to support SCA and SCA exemptions
- has evolved and the key differences between 3DS 2.1 v 2.2
- enables you to turn compliance into a better customer experience.

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Milan, Italy – 21 December 2020 – TAS Group, a leading provider of digital payments, liquidity management and financial messaging software solutions, today announced that it has received global acceptance by the Society for Worldwide Interbank Financial Telecommunications (SWIFT) to support SWIFT’s Cross-Border Payments and Reporting Plus (CBPR+) message specifications, joining the exclusive ranks of certified providers around the world. TAS Network Gateway platform, recently enhanced for the 2020 November change, and Aquarius – TAS leading Liquidity Management solution, are both now ready to support the new ISO 20022 standard, in addition to the legacy SWIFT-MT financial messages, to send and receive cross-border payments and to manage reporting. “TAS’ commitment to bridge compliance complexities for banks in the payments space is stronger than ever,” said Gianpiero Caretti, Senior Business Development Manager at TAS International. “Our financial messaging solutions sit at the heart of the Eurosystem’s payments and securities settlement infrastructures, and are continuously evolved to support changing and emerging standards as well as market infrastructure protocols.” “TAS helps banks to decouple their applications from the network technicalities and simplifies legacy modernization, enabling them to be more competitive. Our 30+ years of collaboration with SWIFT and vast experience in ISO 20022 compliance worldwide can ease the adoption path for any type of PSP worldwide,” he added. TAS Network Gateway, as well as the certified SWIFT Service Bureau operated by TAS, are built on state-of-the-art, enterprise-class, highly secure technologies, coupled with a powerful set of APIs and ISO 20022-ready adapters, all delivered either on-premise or in the cloud. SWIFT CBPR+ Ready: check out the official vendor list Download the press release

Less than 11 weeks to go to the obligatory choice for all European PSPs on how to make themselves reachable on TIPS. The Instant Payments settlement service, despite having been launched over two years ago by the ECB is still very much underused. To overcome the fragmentation of the market present in the various EU countries, the Governing Council of the ECB has formalized the new regulatory obligations that will lead to the “pan-European reach” of instant payments by November 2021. Already by the end of January, therefore in less than three months, all PSPs that currently participate in a SCTInst scheme and are reachable on TARGET2 must open a DCA account on TIPS or choose how to make themselves reachable also on TIPS. Have you already chosen how to make yourself compliant? TAS supports its customers both in the management of central currency accounts on TARGET2 and TIPS with Aquarius, its Liquidity Management platform, and for connectivity to the new ESMIG (Eurosystem Single Market Infrastructure Gateway) via SIA-Colt or SWIFT. Our solutions are available both on-premise and as a service or in the cloud. Contact our experts now!

The results of the interim management report at 30 September 2020, approved by the Board of Directors on 13 November, show an improvement across all indicators compared to the same period of the previous year.

Core revenues are up by 9.1% and the net result for the period is showing a sharp increase compared to a substantial break even in the first nine months of 2019.

Chairman Pardi and CEO Bravi expressed their satisfaction with this positive and consolidated trend, confirming the validity of the Group's business model, the innovation strategies and the alliances put in place with important players in the sector that have allowed growth despite the difficult situation that affected all sectors due to the COVID-19 pandemic.

 

For several years, TAS Group has been a sponsor of the initiative of BNL, our primary customer, part of the BNP Paribas Group, "Relay race 8x20 BNL for Telethon" to support research on genetic diseases. This year the event will not be held in the usual Roman location of the Baths of Caracalla but will be experienced completely online. Everyone can participate in the place they prefer by running, walking or cycling, alone or in a team with friends and relatives, for 20 minutes or more, and post photos and / or videos on their Social profiles (Facebook, Instagram, Twitter, etc.) by tagging Fondazione Telethon e 8x20 BNL per Telethon to be anyway together in this great commitment of solidarity.

During TAS Group’s workshop at the recent Payvolution virtual event, Stefano Macchi, Global Payments’ subject matter expert, illustrated the great potential of the new SEPA standard developed by the EPC. R2P, together with instant payments and open banking, enables PSPs to offer a more digital, efficient and end-to-end user experience, irrespective of the target segment: consumer, business customer, merchant or public admin.

While the actual roll-out of the standard has been postponed to March 1 2021, from a technical point of view, everything is ready for the first initiative launched by EBA Clearing, whose testing phase began in July, with 27 partners from the financial world from 11 European countries that have joined the project.

R2P is not an additional payment instrument but a new, all-digital way of requesting a payment for which a payee and a payer electronically exchange structured data through a message workflow, before exchanging money. Being initiated by the creditor, R2P allows for a 100% automatic reconciliation of the subsequent payment, even if done in several instalments and deferred instead of in real time.

On the application platforms and channels of TAS, a series of competitive services for customers on both the beneficiary / payee side and the customer / payer side are created on the basis of calls to the standard R2P infrastructure. These services integrate domestic use cases already implemented in the PayTAS scenarios for B2G / C2G interaction as well as on CBI Globe (the leading Italian Open Banking Ecosystem standard), but are ready for billers, PSPs and clients throughout the entire SEPA area.

Milan, October 13, 2020– TAS Group, (Italian Stock Exchange: TAS), 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 2020 IDC FinTech Rankings for the 12th consecutive year. The 17th annual vendor ranking represents the leading hardware, software and service providers to the financial services industry from around the world. Vendors are ranked based on 2019 calendar year revenues attributed to financial institutions. The full list for 2020 can be viewed HERE.

Executive Chairman of TAS Group, Dario Pardi, remarked, "We are proud to have been recognized once again among the top fintech players in these prestigiousrankings. Such a result confirms our domain expertise and reinforces our commitment to invest in and deliver innovation and agility to financial operators in today’s dynamic payments ecosystem. We will continue to strive to be the best and to serve the Financial Industry, offering both incumbents and digital challengers alike best-of-breed, leading-edge solutions solutions that are real game changers in today’s highly competitive market place. By empowering our customers to adopt new enabling technologies, they can make digital transformation a reality and overcome legacy challenges.”

The Fortune 500-style ranking categorizes and evaluates the top global providers of financial technology based on calendar year revenues from financial institutions for hardware, software and/or services. These providers supply the technological backbone of the financial services industry, an industry in which IDC Financial Insights forecasts worldwide spending on IT across the globe to exceed $577 billion (USD) by 2024. 

To thrive in a digital economy, financial services organizations must embrace innovative and integrate cutting-edge technology effectively to enhance the customer experience and achieve operational excellence. TAS Group and the vendors featured in the IDC FinTech Rankings, represent those providers committed to helping financial institutions successfully execute their digital transformation initiatives for the betterment of their customers around the world. IDC Financial Insights publishes a comprehensive report about the year's findings that is available to view or download HERE.

TAS has played a key role in supporting Europe’s financial community following the recent regularity and compliance changes mandated, with projects such as the T2/T2S Consolidation and the wider changes to Eurosystem’s TARGET services, the upcoming introduction of ESMIG and a general migration towards ISO20022. As a trusted and experienced partner during past Eurosystem migrations and with its payments solutions running at the heart of the ECB, TAS has been well positioned to offer both technological and advisory support to its customers in light of such challenges. 

In the Issuing and Acquiring domain, TAS continues to lead the way as a provider of innovative digital payments and financial software solutions to banks, PSPs and Fintech throughout Europe and the Americas. Most recently it further enriched its offering by adding a new cloud-native, API-based full microservices proposal that manages all types of payments including a fleet/fuel card solution.   

This innovation-driven strategy and investment in product development have contributed to the Group’s strong financial results this year, seeing a double-digit increase in EBITDA. TAS management is optimistic about the future where digital payments, boosted by the pandemic and the new norm, are expected to continue to grow.

For more information about the rankings, visit HERE and follow on Twitter @IDC and look for #IDCFinTechRankings.

Read the Press Release

The Eurosystem has communicated the milestones in the lead up to the final migration on November 2022. The main changes can be summarised as follows:

1. No milestones to reach until March 2021
2. New milestones have been added (User Testing activities started, Training for user testing started, Network connectivity tests on production started, Network connectivity tests on production completed)
3. Milestones not completed in 2020 will be postponed between 8 and 12 months.

With specific regard to the most operational impacts:

• NSP selection and contract preparation to be completed by 31 March 2021
• Software development for the required adaptation changes to TARGET2 to be completed by 30 June 2021
• Testing of the internal applications to be completed by 31 August 2021
• User Testing activities to be started by 1 December 2021

In addition the ECB has communicated that, as disclosed by the ECB’s Governing Council in July:

• All PSPs which have joined the SCTInst scheme and are reachable in TARGET2 should also become reachable in a TIPS central bank money liquidity account, either as a participant or as a reachable party (i.e. through the account of another PSP which is a participant)
• All ACHs offering instant payment services should migrate their technical accounts from TARGET2 to TIPS.

In order to implement the new European Instant Payments interoperability paradigm, a project has been launched starting in January 2021 where all participants must be live by 15 December 2021 and follow the additional milestones to ensure their go-live readiness in a synchronised manner across all national communities. In summary the TARGET2 participants have today:

• 6 months to confirm, review or fine-tune their NSP choice for TARGET2
• 9 months to complete TARGET2 developments and 11 months to finalise testing
• Less than 15 months to set up their TIPS central bank money liquidity account

Many banks will be using the TARGET2/T2S Consolidation delay to absorb the impacts of COVID-19 priorities and the implementation of TIPS accounts. However, the extra time will allow participants to improve their digital transformation and consider cloud strategies, improve data management and analytics, and embrace ISO 20022 more deeply and extensively. TAS is ready to support market participants ensure the best possible implementation of these projects, focusing on:

• NSP access in Cloud
• Intraday Liquidity
• Payments transformation
• Instant payments management in the new framework

Find out more on our dedicated page or get in touch with our experts