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Fintech News for Payments professionals

Mexico's Banco Base to extend deployment of Volante's VolPay

Source: Volante

Volante Technologies Inc., a global provider of software for accelerated end-to-end payments processing and financial message integration, today announced that Banco BASE selected Volante as a strategic partner to provide this Mexican financial group with end-to-end payment processing solutions for domestic and international payments.

Banco BASE specializes in payments and transaction banking services for corporations and medium-sized businesses in Mexico, and their foreign trade partners. As the result of a rapidly changing market, the advent of open banking and the desire to offer digital P2P and merchant services among others, Banco BASE needed the fastest path to innovation and a modern payments platform to strengthen its position as a regional leader.

To achieve these goals, Banco BASE implemented Volante’s VolPay for end-to-end domestic and international payment processing. Live since 2016, VolPay processes the bank’s domestic real-time payments in Mexico via SPEI, in Mexican Pesos and SPID in U.S. dollars; and cross-border payments, incoming and outgoing, via the SWIFT network.

Reaping the benefits from VolPay’s efficient, scalable and innovative payments architecture, low operating cost, and its ability to provide the bank’s customers with a superior experience, Banco Base expects to expand the VolPay implementation to cover domestic bulk MXN payments, and digital retail payments.

Prudencio Frigolet, IT and Operations Director, Banco BASE, said, “With a rapidly changing payments landscape, we were looking for a payments infrastructure solution that could deliver on our current domestic and international payments needs and support our future growth strategy. Since developing an in-house solution was not an option, we particularly appreciated Volante’s ability to work with us as strategic partners, collaborating on roadmap priorities and allowing us to make the most efficient use of our own resources. With Volante and VolPay, we are confident of the competitiveness of our corporate payments’ offerings today, as well as our ability to stay ahead of tomorrow’s emerging trends.”

Luis Melgarejo, VP, Latin America Operations, Volante Technologies, commented, “Our number one priority is to serve as a trusted partner enabling digital transformation and innovation in payments so our customers can create a superior experience. Our relationship with Banco Base demonstrates our ongoing commitment to providing financial institutions in Latin America with the same powerful, flexible payments technology that powers the world’s largest banks—tailored to local market needs. We are proud that we were able to help Banco Base maintain its leadership position, and that VolPay is delivering the efficiency and functionality they need to grow and stay ahead in their payments business.”

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