Volante Technologies, the global leader in cloud payments and financial messaging, and Deloitte are joining forces to offer clients an innovative new service that enables financial institutions to transform how they run their payments business.
Volante’s cloud-based technology solutions for financial institutions will now include added insight and integration services from Deloitte as part of a broader strategic alliance agreement.
This new offering from Volante and Deloitte will enable banks and payment service providers to further enhance the strategic and financial benefits of payments modernisation and cloud technologies, while simplifying regulatory compliance challenges and reducing operational risk. More so, it will enable the industry to scale new payments products in a more agile manner.
“Payments institutions must modernise their core payments systems and operations to address the issues that matter most to their business’s success. No longer can anyone in the payments ecosystem rely on outdated technology solutions,” said Tushar Puranik, Managing Director, Deloitte Consulting LLP, and Payments Transformation Leader.
“We see Volante as an important and innovative player,” he continued. “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.”
Deloitte – which serves 94 percent of the financial institutions on the Fortune 500 list and has one of the largest payments-focused groups in the industry – will also bring a wealth of deep technology-implementation experience to the offering. This includes helping clients in areas as diverse as payments modernisation, API-driven automation, risk and regulatory compliance, anti-fraud programs and cybersecurity capabilities on a global and local level.
“We’re delighted to welcome Deloitte as a strategic alliance teammate,” said Jim Chow, VP of partnerships, Volante Technologies. “With more than 1,500 practitioners focused on the cutting edge of trends in the payments industry that transcend borders, Deloitte’s payments group provides end-to-end capabilities that can enable companies to offer a wide range of alternative delivery channels and enhance customer experience.”
“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,” said Vijay Oddiraju, CEO, Volante Technologies. “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.”