Volante, Deloitte partnership looks to transform FIs payments business

Cloud payments provider Volante Technologies and Deloitte have teamed to offer a new service aimed at transforming how financial institutions (FIs) run their payments business.

Founded in 2001, Volante Technologies is a global provider of cloud payment and financial messaging solutions. The company works alongside over 100 banks, financial institutions, market infrastructures, clearing houses and corporate treasuries in 35 countries.

According to Volante, this new offering will enable banks and payment service providers to further bolster the financial benefits of payments modernisation and cloud technologies, while also simplifying regulatory compliance challenges and cutting operational risk. Furthermore, Volante believes it will allow the industry to scale new payments products easier.

The company added that its cloud-based technology solutions for FIs will now include further insight and integration services from Deloitte as part of the agreement.

Volante CEO Vijay Oddiraju said, “To meet evolving corporate and consumer expectations, banks need to modernize their technology at every point in the payment lifecycle and prioritize cloud and Payments as a Service models for payments processing.

“Deloitte’s deep experience in strategy, implementation and integration will be a critical factor in helping our joint customers derive the greatest value from our payments solutions.”

Deloitte Consulting managing director and payments transformation leader Tushar Puranik added, “We see Volante as an important and innovative player. Their modern, componentised, cloud-native solutions and services will enable financial institutions and payments processors to accelerate enablement of real-time payments and adoption of ISO 20022 regulations and standards, reduce infrastructure costs, and grow their businesses with agility. We are excited about the opportunity to bring the benefits of our alliance with Volante to our clients.”

Volante previously bagged $35m in an equity funding round in August 2020. The company highlighted it would use the funding to increase its cloud expansion and enter new countries’ market segments and industry verticals.

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