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Volante Technologies Expands Payments as a Service on Microsoft Azure for U.S. Financial Institutions
  • USA - English

Offering combines corporate to bank connectivity, onboarding, and end-to-end payment processing in a cloud-based managed service

(PRNewsfoto/Volante Technologies)

News provided by

Volante Technologies

Apr 30, 2019, 08:11 ET

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NEW YORK and LONDON and DUBAI, United Arab Emirates and MEXICO CITY, April 30, 2019 /PRNewswire/ -- Volante Technologies Inc., a global provider of software for accelerated end-to-end payments processing and financial message integration, has expanded VolPay-as-a-Service, its cloud-based ecosystem of business services for payments innovation and modernization, with key innovations for U.S. financial institutions.

The new offering is the first to combine corporate to bank connectivity, corporate onboarding, and end-to-end processing of all U.S. domestic and cross-border payment types in a unified on-demand cloud service. In doing so, it addresses two of the most significant challenges for U.S. financial institutions: 74 percent of banks cite slow onboarding and complex integration as the single biggest obstacle to achieving their corporate customer acquisition goals, and four of five corporates express willingness to switch to banks that provide more effective customer-centric services.

To accelerate corporate onboarding, the service simplifies the complexity of handling diverse corporate ERP and acknowledgement formats, and automates the process of connecting corporate customers to their institutional payment service providers through a comprehensive API library. To facilitate efficient end-to-end processing of payments, the service handles all U.S. payment types including Fedwire, ACH/Same Day ACH, Zelle, and TCH RTP clearing and settlement, as well as SWIFT cross-border payments. With all these capabilities available in one 24x7 real-time managed service, U.S. financial institutions can now simultaneously enrich customer experience, speed time-to-market, and reduce total cost of ownership by nearly 40 percent.

"NACHA welcomes the introduction of new services that will facilitate increased adoption and use of ACH, Same Day ACH and ISO 20022 messages within the U.S. financial services ecosystem," said Jane Larimer, Chief Operating Officer of NACHA. "As-a-service models are an efficient way to enable the smarter, faster payments capabilities that financial institutions desire to support the evolving needs of their corporate customers."

Christine Barry, Research Director, Aite Group, concurred, "A cloud implementation can provide greater accessibility to complex technology solutions without many of the expenses that come along with an on-premises implementation. As confidence in the security of the cloud—private, public, and hybrid—continues to increase, Aite Group anticipates greater adoption in 2019 by banks of all sizes. Not only are large banks investing heavily in cloud technology, but small banks are also following suit."

"At Volante, we are committed to providing the most advanced payments solutions to our customers, so that they can stay ahead of emerging trends, and make the most of the growing opportunity in payments," said Vijay Oddiraju, CEO, Volante Technologies. "With the increasing popularity of software-as-a-service models in financial services, this is an ideal time for U.S. institutions to take a close look at their payments infrastructures, and explore managed-service models to generate superior business outcomes."

"We are delighted that Volante Technologies is providing corporate to bank automation and end-to-end payment processing services for the U.S. with innovations powered by Microsoft Azure," said Janet Lewis, VP Worldwide Financial Services, Microsoft. "Volante Technologies delivers significant advantages to financial institutions who are looking to improve customer service and benefit from a reduction in hardware and software costs by adopting cloud technologies."

Volante Technologies is exhibiting at NACHA's PAYMENTS 2019 conference. To learn more about payments as a service and VolPay, visit us at booth #201 or schedule a meeting in advance by clicking this link.

About Volante Technologies
Volante Technologies is a global provider of software to accelerate digital transformation and modernization in financial services. Our clients include the world's largest banks, market infrastructures, exchanges, clearing houses, corporate treasuries, and card networks.

Volante's ecosystem of business services simplifies complex systems and processes in payments, capital markets, and financial messaging automation. As a result, our clients are able to stay ahead of emerging market trends, become more competitive, deliver superior customer experiences, and grow their businesses through innovation.

Founded in Silicon Valley in 2001, Volante today serves as a trusted, strategic business partner to over 90 financial institutions in 35 countries.

For further information please visit: www.volantetech.com 

SOURCE Volante Technologies

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