Milan, Italy and Vienna, Austria, 26 September 2016 – TAS Group and targit GmbH Austria are collaborating to bring a SaaS model for liquidity risk management and reporting within reach of Tier II and III banks throughout Central and Eastern Europe, including Austria and Germany. targit and TAS Group together are offering banks in the region the ability to manage all aspects of liquidity – including T2S – while complying with BCBS 248 regulations. The service is delivered via a SaaS model, allowing a cost effective and short time to market solution to be set up.
TAS Group provides their Aquarius solution – the integrated Securities, Cash and Collateral management platform – and all related support through the TAS Service Bureau, which is complemented by targit’s business consulting, set-up and integration services. The new service is available immediately and provides early adopters the ability to fully comply with BCBS 248 when the regulations come into effect in 2017.
In addition, TAS Group and targit will work together throughout the region to offer Aquarius as an in-house installed solution to those banks who require such a delivery model.
“We have been providing software as a service solutions since 2001, with targit we now have the unique opportunity to simplify the regulatory burden for banks whilst dramatically improving intraday liquidity management,” said Mario Mendia, Managing Director of Capital Markets and Treasury Business Unit at TAS Group.
Klaus Lagler, Managing Director targit GmbH in Vienna said, “targit’s pedigree as a consultancy and IT company for the finance industry, combined with TAS group’s leading software and solutions, ensures our collaboration fortifies our position as subject matter experts, delivering robust solutions to our customers.”