Any Bank, Regardless of Size, Can Offer Immediate Payment Capabilities to Their Customers
Volante Technologies Inc., a global provider of technology and software as a service to accelerate digital transformation and payments modernization, announced the launch of free RTP / instant payments processing on the cloud as a service.
The capability to offer RTP is rapidly becoming the norm for large banks and an emerging necessity for smaller and mid-sized banks. Traditional implementation models, with their high costs and long project times, are also not suited to real-time payments.
Volante offers a cloud native microservices architecture which allows for quicker implementation cycles. Volante’s broad experience of delivering complex payments projects in record time allows us to deliver the same payments technology used by other larger Volante customers to a wider audience, as a free RTP / instant payment processing service.
The free offering is for US TCH RTP and European SEPA RT1 or TIPS instant payments. Free implementation and onboarding is provided alongside, and there are no service or per transaction fees. Certain limits will apply.
Vijay Oddiraju, CEO, Volante Technologies, said, “We have always been passionate about bringing simplification and automation of payments processing to financial institutions. This allows us to bring the power of our payment solutions to all banks.”
Deepak Gupta, Global Head of SaaS, Volante Technologies, added, “Banks are following two clear routes as they consider their RTP strategies: take a reactive approach and watch the industry and their competitors get RTP-enabled or, look to adopt a more proactive approach using RTP as a means to future revenue-generating services and remain competitive.”
Gupta concluded, “Volante’s cloud-native payment capabilities, inherent in the VolPay ecosystem, not only helps to remove obstacles to adoption but also provides firms with an extensible platform to include additional payment schemes quickly and ensure compliance with emerging standards. Speed to market and revenue without having to worry about the cost is our goal.”