Volante Technologies Inc., a global leader in the provision of software for the integration, processing and orchestration of financial messages and payments, working in collaboration with Ripple, today announced it has created a solution specifically designed to accelerate the process of integrating with Ripple, the global provider of distributed financial technology solutions offering real-time settlement of cross border payments.
At SIBOS 2015 Volante demonstrated Ripple-readiness as a feature of the VolPay Hub product. Building on this capability and following close engagement with Ripple, Volante has developed a highly flexible integration solution wholly designed to simplify the connectivity to Ripple.
For over 15 years Volante’s technology has enabled financial institutions and corporates to accelerate their connectivity to a wide range of clearing and settlement mechanisms. The software suite includes an ever growing and maintained library of plugins and transformations for over 330 international and domestic standards and bidirectional and customisable transformations, to enable fast and efficient integration with a vast range of payment flows.
Volante’s new Ripple integration solution is the latest component added to Volante’s VolPay suite, and has been created to ease integration for banks who are current or future Ripple customers. The solution encompasses the necessary workflow, message transformation, and payment orchestration requirements to allow banks a significantly simpler method of integrating with Ripple’s payment network, both on the sending and receiving side, with minimal if any changes to their existing payment systems.
Neil Clarke, Market Engagement Director, Volante Technologies, commented, “Ripple continues to gain traction in the payments world and banks are looking for solutions to quickly and easily integrate to this new distributed ledger based multi-currency settlement solution. Volante’s market leading integration technology is ideally suited to meet the challenge of integrating a bank’s payment systems to the Ripple network. Our aim has been to make integration with Ripple, a plug and play process.”
Steve Mollenkamp, Head of Channel Sales, Ripple, commented, “The combination of Volante and Ripple greatly simplifies banks' integration with Ripple distributed financial technologies. We view Volante as a critical partner for building Ripple's new real-time, data-rich payments network.”
Nadish Lad, Head of Payments Product, Volante Technologies, added, “By introducing this new Ripple integration solution as a component part of VolPay Foundation, we are now offering the agility and simplicity that banks need to integrate their existing payment platform with the Ripple settlement network. The Volante solution will use the bank’s existing payment message standards to communicate with Ripple – Banks will be able to achieve integration without spending the time and effort normally associated with this type of integration work.”