Source: Volante technologies
Volante Technologies Inc., a global leader in the provision of software for the integration, processing and orchestration of financial messages, data and payments, today announced the use of Volante Designer within IWIAfrica to enable communication with banks and financial institutions’ systems via SWIFT and FIX messages.
IWIAfrica is an award winning, emerging market platform provider for the financial market, helping businesses to perform cashless transactions with their customers from any mobile device including mobile phones, personal computers and Point of Sale using a wide range of payment methods including digital wallets, banking services, cards and crypto currencies.
Used by some of the largest financial institutions in the world, Volante Designer handles the complexity of managing financial message and data integration, so firms like IWIAfrica can focus on building out their consumer-facing mobile integration platform and take full advantage of their commercial opportunities. Designer includes out-of-the-box support for over 300 domestic and international standards and transformations, with an intuitive and easy to use graphical user interface that transforms message data and automatically generates the required code for deployment and associated documentation. Designer generated objects seamlessly integrate with existing infrastructures and are designed to be fully flexible and readily scalable for future expansion, thus enabling customers of Volante to easily connect to more financial institutions, to on-board new clients and/or expand into new territories.
IWIAfrica’s first project using Volante’s technology supports the digital enablement of a securities trading exchange with pan-African ambitions. As partners who will be implementing their mobile and digital strategy, IWIAfrica looked to Volante Technologies for their software and expertise to help them integrate with the trading exchange’s back-end systems using FIX and SWIFT messaging. The result will be seamless trading of securities on various mobile devices including feature phones (USSD) and smart phones.
Mick Fennell, General Manager, MEA, Volante Technologies, commented, “Through their fintech innovation lab, Innotribe, SWIFT has been doing a wonderful job nurturing both small companies and startups and getting them onto the world stage. The global financial services market is ridden with both domestic and international standards, and all too often early stage firms struggle to support the complexity of message standards adoption, let alone manage the myriad of message changes and updates that continually occur. With more than 15 years of continual, focused investment in our core message integration technology platform, Volante are ideally positioned to help IWIAfrica accelerate their servicing of new customers and are proud to enable them to cost effectively integrate their components with existing complex financial message standards, so they can focus on building out their own technology solutions. We have been impressed not only by their entrepreneurial approach and technological ingenuity, but also their commercial appreciation that in removing one of the most common barriers of access to sophisticated tier 1 institutions, they can be well on their way to enjoying regional expansion in much shorter timeframes.”
Allan Rwakatungu, CEO and Founder IWIAfrica, added, “In order to be competitive, we need to focus on the business and user functionality of our own technology, and take advantage of products that insulate us from the complexity of domestic and international standards. We were very impressed by the vast library of standards from Volante, as well as by the ease of use for the integration of financial data and messages. This support and functionality from Volante removes a huge burden, allowing us to go to market faster and position ourselves as a proven proposition with global capabilities and we thank Volante for its support and easing the way to fulfilling our company’s ambitions in the African payments market and beyond.”
Vijay Oddiraju, CEO, Volante Technologies, concluded, “Partnering with IWIAfrica is representative of our strategic commitment to both enabling innovative fintech startups and supporting infrastructure development in the emerging markets. In both Africa and Latin America we’ve seen numerous inventive and dynamic startups enter the world of fintech only to be stifled in their progress by the need to support multiple complex, and ever-changing, international message standards. We can offer them a quick and easy path to compliance so they can focus on customer differentiation. They can rely on our innovative and proven software along with cost effective and flexible partnership models to quickly progress to the next level of their evolution. It really is a win-win for all of us.”