Treasury Management Internation Logo

Volante Technologies launches VolPay Foundation

Published 
  • 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

HSBC’s Sibos Spotlight: Investing in the Future – from Diversity to Green Deposits

In the final instalment of HSBC’s Sibos Spotlight, Eleanor Hill (TMI) invites Nadine Lagarmitte and Suraj Kalati (HSBC) to consider how corporates’ attitudes to...

25:12

HSBC’s Sibos Spotlight: The ESG Landscape – what every treasurer needs to know

In the third edition of HSBC’s Sibos Spotlight Podcast series, TMI’s Eleanor Hill invites Farnam Bidgoli (HSBC) to provide an in-depth overview of the current ESG...

16:24

The Path to Transformational Global Cash Visibility

Davina Bradley (CEVA Logistics) and Conor Deegan (CashAnalytics) join TMI’s Eleanor Hill to explore how treasurers can transform their cash visibility and forecasting within their business in a matter of weeks using a...

33:16

HSBC’s Sibos Spotlight: Embedding ESG in Trade and Supply Chains

In the second podcast from HSBC’s Sibos Spotlight series, TMI’s Eleanor Hill speaks to Surath Sengupta (HSBC) about embedding ESG into trade and supply chains....

20:58

Lost in Transaction: Overcoming Payments Pitfalls

From simple errors to duplicates, fraud and sanctions violations, there are a number of areas where payments can go wrong – especially in the real-time environment. In this podcast, TMI speaks to Andrew Ferrao...

34:25

HSBC's Sibos Spotlight: Central Bank Digital Currencies

The first edition of HSBC’s Sibos Spotlight series sees TMI’s Eleanor Hill joined by Mark Williamson and James Pomeroy (HSBC) to discuss the hot topic of Central Bank Digital Currencies (CBDCs). Our guests discuss...

25:48

Payments Vision 2025: The Inside Track

Wim Grosemans, Steven Lenaerts (BNP Paribas) and Wim Raymaekers (SWIFT) join TMI’s Eleanor Hill to outline their vision for the payments landscape in 2025. Our guests consider how recent developments such as instant...

28:21

Stepping Out from the Shadows

“Treasurers needs to step out of the shadows and into the sunshine in terms of their strategic contribution.” claims Zitah McMillan, Co-Founder and CEO, Predictive Black. In this podcast, hosted by TMI’s Eleanor Hill, our guest declares that the...

16:54

Why the ‘One Size Fits All’ Approach is Outdated - A Cash Segmentation Treasury Masterclass

With the ongoing low interest-rate environment and increasing regulatory change, it’s more important than ever for treasurers...

23:55

Instant Payments: Instant Rewards

TMI’s Eleanor Hill sits down in the virtual TreasuryCast studio with J.P. Morgan’s Global Head of Real-Time Payments, Cyrus Bhathawalla, to discuss how treasurers can capitalise on the evolving nature of real-time payments. Our guest contemplates the elements...

23:55