Volante Technologies launches VolPay Channel

  • Adding to the VolPay suite of payments software solutions and designed specifically to ease the complexity and time taken for Host to Host on-boarding

NEW YORK, LONDON, DUBAI, MEXICO CITY – Volante Technologies Inc., a global leader in the provision of financial message and data integration, validation and processing software, continues to challenge the current approach to payments processing dominated by legacy systems, by announcing today the launch of their latest payments processing product – VolPay Channel.

VolPay Channel is a Host to Host (H2H) on-boarding and pre-processing engine that manages data imports and exports between banks, corporates and treasury departments. Designed to remove much of the complexity, time and cost associated with the customer on-boarding process, VolPay Channel flexibly integrates, validates and pre-processes payment transactions to ensure shorter time to revenue. It offers a streamlined, guided process to systematically define the customer’s preferences, business rules and exception management process flows. The end result is the rapid deployment of payment flow configurations, with the automatic generation of the necessary code and documentation for customer sign-off. VolPay Channel also includes a test harness to ensure that the final configured operation is in line with both the customer and bank’s requirements.

Banks, corporates and treasury departments continue to face challenges when integrating disparate payment message flows and dealing with the ongoing obstacles caused by changes in formats due to regulation and new clearing mechanisms. Using the ISO 20022 data dictionary as its internal model, and through model based definitions rather than coding, VolPay Channel users benefit from an optimized approach to data integration, transformation, validation and pre-processing.

VolPay Channel is a thin client application that can be deployed in the private or public cloud as a hosted service, or as an in-house standalone application.

As with all Volante products, VolPay Channel comes with an extensive and continually maintained library of more than seventy domestic and international financial message plug-ins and associated pre-built transformations which ensure a more rapid and straight forward application of market changes when they occur. VolPay Channel’s extensive message standards plug-in library combined with its comprehensive payment pre-processing functionality and its canonical data model, means that banks can reduce the impact of the complexity of integration with the H2H channel on their internal systems. The result is competitive advantage through greater speed of change, flexibility of deployment, and increased levels of customer service.

Venkat Malla, VP Product Management, Volante Technologies, commented, “The increasing sophistication of corporates along with ever-increasing payment volumes is continuing to drive the need for greater automation. Banks are under pressure to ease the process of on-boarding corporates and new payment channels in order to be closer to their customers and offer additional services. In tandem, corporates are looking to manage multiple banking relationships and increase control of their centralized treasury functions. Although the process around the due diligence aspects of on-boarding new customers has become more streamlined of late, the technical aspects of the on-boarding process have remained onerous, costly and to date, very time consuming. We challenged ourselves to find a better way, and through our expertise and innovative design, we have been able to effect significant efficiencies in the corporate to bank payments integration space.”

Nadish Lad, Director, Head of Payments Product, Volante Technologies, continued, “In my experience, customer on-boarding traditionally takes the form of an IT project involving multiple steps from initial project approval, requirements gathering, functional and technical specification creation, customer sign off and finally testing through to deployment. This approach understandably takes time to complete. VolPay Channel’s application centric approach guides the bank and their customers through a streamlined configuration process, driven by the bank’s implementation team, resulting in the rapid completion of customer on-boarding. VolPay Channel is challenging the way customer on-boarding is currently executed, enabling the bank to offer a format agnostic proposition. Its prime purpose is to ensure that the time taken to on-board customers correctly and comprehensively, is significantly reduced and therefore the all-important time to revenue is also reduced.”

Most recent episodes

Podcast - Journeys to Treasury Deep-Dive: Cash Flow Hedge Accounting at JT Group

Listen to this audible case study, which provides a lens over the details of a recent cash flow hedge accounting project undertaking by the JT Group treasury team.


Podcast - Innovation as an Enabler: Sustaining Global Trade Finance in Uncertain Times

J.P. Morgan's Bayo Osolake, who joins Eleanor Hill (TMI) to discuss how treasurers can facilitate global trade in the currently turbulent macroeconomic environment.


Relative Normality On Horizon — But Divergent Monetary Policy Pathways Likely

Welcome to the latest edition of Liquidity Link Live, your exclusive market analysis provided by Northern Trust Asset Management.


Audio TMI - MMF Reform Proposals Threaten LVNAV Viability for European Treasurers

Proposed MMF changes currently being debated at European Commission level endanger the utility of one of the most popular forms of MMF used by corporate investors across the continent.

Audio TMI - Special FX

Two experts from NatWest share the inside track on how treasurers can better manage FX risks by shaking up legacy processes and old-fashioned thinking, improving data coll...


Audio TMI - Roadmap Towards a First-Class Group Treasury

As the perennial debate continues around the pros and cons of a centralised tre...


Audio TMI - How Etihad Covered all Three ESG Elements in One Sustainability-Linked Financing

Etihad Airways recently raised US$1.2bn in the first sustainability-linked loan in global aviation with terms that relate to all three areas of ESG.


Reducing Friction in International Payments: Five Steps for Treasury Teams

What are the steps that treasury teams can take to remove roadblocks in processing international payments? Daniela Eder, Gibran Maqsood, and Karsten Becker (Barclays) to answer this question.


Keeping the Plates Spinning: the Art of Treasury Project Management

Sandra Shen (Actualize Consulting) joins TMI's Tom Alford to offer professional insight into what defines successful treasury project management. 


Audio TMI - ESG: Time to Decide

The pressure to comply with ESG initiatives is being felt by corporates like never before, with ESG-compliance a common concern among treasury departments.