Volante Technologies launches VolPay Foundation

  • Designed to expedite payment integration projects, speed-up client on-boarding and deliver a quicker time to new revenue streams for end-users

NEW YORK, LONDON – Volante Technologies, a global leader in the provision of financial message and data integration, validation and processing software, today announced the launch of VolPay Foundation.

Over the past 15 years Volante has been called upon by banks and corporates implementing payment systems to help deal with specific challenges in message and data integration. Time and again it has been shown that some of the largest challenges that organizations face when implementing a new payments system is in integrating not only with other internal systems, but also domestic clearing channels, corporate customers and the correspondent banking network. These challenges often result in huge implementation cost overrun and delayed time to realizing revenue streams. VolPay Foundation has been created to deal with these challenges and promises to support a smoother payments implementation, on time and on budget.

VolPay Foundation is a development platform designed to ease the challenges of payment integration and payment processing projects. The platform is highly optimized and designed specifically to address integration issues facing the digital payments age.

The digital banking era continues to drive the revolution in payments, causing banks and corporates to expand their capabilities to deal with new payment channels, new payment instruments, new markets, new standards and new competitors operating in their space. These financial institutions continue to recognize that they need to overhaul their payments systems or choose a payment channel integration solution in order to remain competitive. Volante Technologies has fifteen years’ experience in tracking and handling integration complexity, so firms can take full advantage of their commercial opportunities by increasing operational efficiency and reducing cost.

Volante’s heritage is founded upon the ability to reduce the development lifecycle for integration projects and ensure compliance to changing message standards. The VolPay Foundation follows this principle by accelerating and condensing each step of the development and deployment process for payment message definition, validation, orchestration and transformation.

The VolPay Foundation development platform which includes a suite of modular tools has been developed to address payment integration issues. Functional components of the product include graphical model-based automated code generation, validation and conversion logic, mapping tools, proprietary format definition, industry standard payments plug-ins, an ISO 20022-based payments canonical model and the ability to design a payment integration code – all with typically very limited hand coding. The platform also includes pre-built and maintained payment message standards and pre-built conversions to over 50 clearing standards to ensure support for a growing number of clearing and settlement mechanisms (CSM).

Vijay Oddiraju, Chief Executive Officer, Volante Technologies, said, “The payments world is moving and evolving rapidly. Banks and corporates need to keep up with new payment sources, participants and systems, yet must adhere to increased compliance requirements while meeting customers’ demands for greater transparency within their payment processing systems. Balanced against a desire to be quicker to market, firms are increasingly looking to Volante to help ease these pressures. Today’s payment solutions must bemore efficient, more cost effective, less time consuming to implement, more flexible and be able to support more open processes and deliver reduced risk.”

Vijay Oddiraju continued, “Our customer base, in excess of eighty firms operating across twenty-six countries, shows that we have a proven track record of removing the complexity of integration projects. Whether financial institutions choose to incrementally enhance current systems or introduce separate payment services, the complexity cannot be underestimated. Using VolPay Foundation, our clients are able to automate and enhance the integration, production and maintenance capabilities of their architecture and implementation projects.”

Most recent episodes

Future Monetary Policy Path Sets Markets Against Central Banks

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


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.