SOURCE: Volante Technologies

Volante Technologies

April 19, 2016 11:51 ET

Volante Technologies Delivers Immediate Support For ISO 20022 Real-Time Payment Group (RTPG) Global Practice Guidelines

Evidencing Volante's Aptitude for Rolling out New Message Standards and Practice Guidelines Support Quickly and Simply to Accommodate Evolving Industry Initiatives

DUBAI, UNITED ARAB EMIRATES and LONDON, UNITED KINGDOM and MEXICO CITY, MEXICO and NEW YORK, NY--(Marketwired - April 19, 2016) - Volante Technologies Inc., a global leader in the provision of software for the integration, processing and orchestration of financial messages and payments, is pleased to announce support for the ISO 20022 Real-Time Payments Group (RTPG) global market practice guidelines which were published on 18th April 2016 on the ISO 20022 website. 

To support a customer-led need for instant payments, the capability for real-time payments processing continues to grow. To date, this has been supported by a number of real-time payment systems emerging around the globe but using differing standards. The guidelines published on the 18th April are anticipated to be expanded upon, but will help deliver harmonization and standardization of real-time initiatives with the ultimate aim of improving interoperability as yet more real-time payment infrastructures are introduced. 

In line with Volante's ethos of facilitating ease of adoption in this challenging payments world, Volante's early support of the RTP messages and associated usage guidelines, is designed to increase the speed and flexibility in which participants in the payments chain can integrate and test against the new formats and API's as part of the payment processing solutions they may already have or may build, regardless of technology platform.

Nadish Lad, Director, Head of Payments Product, Volante Technologies Inc., commented, "By including support for the RTP messages and usage guidelines in the VolPay suite of products, Volante can significantly help banks and other financial institutions to rapidly develop their own solutions to expedite the implementation of payment processing while complying with the payments market infrastructure change requirements we will continue to experience. Yesterday's announcement is a great example of how the inclusion of expert vendors of market technology can help accelerate the support of standards in a timely manner."

Fiona Hamilton, VP Europe and Asia, Volante Technologies Inc., added, "As a contributor to the RTPG from its inception, and based on our experience in the market, we have been working closely with the industry to input into these latest guidelines and as such, we are delighted that these have now been published. Having input to the standards process from the perspective of a vendor on the impact of the guidelines ensures that these are based on a pragmatic approach to implementation. In my experience, this is the first time vendors have been invited to contribute to a drafting group and I hope this is the start of a new dawn of collaboration."

About Volante

Founded in 2001, Volante Technologies is a global leader in the provision of software for the integration, validation, processing and orchestration of financial messages and data and payments within financial institutions and corporate enterprises. Volante is dedicated to helping firms manage challenges in this domain with greater ease so that they can focus on the business of being competitive in their marketplace.

Volante serves a growing client base of more than 80 financial institutions and corporate enterprises operating in 26 countries around the world, including several of the largest global financial organizations. Many clients use Volante to assist with multiple product implementations ranging from message transformation and integration, through to the processing and orchestration of transaction data and payments. Along with its products, Volante Designer, VolPay Foundation, VolPay Channel and VolPay Hub, Volante constantly maintains a growing library of over 85 domestic and international financial industry standards plugins. These standards include; SWIFT MT and MX, ISO 8583, FIX, FpML, EDIFACT, ISO 20022, SEPA, BACS and Fedwire, and proprietary formats based on XML, CSV and Fixed Width. Volante's financial message plugins are further augmented by more than 250 prebuilt, customizable, bidirectional transformations to and from these standards.

Supported by offices in Jersey City, London, Dubai, Mexico City, Hyderabad and Chennai, Volante solutions are employed by a diverse set of organizations, including buy-side and sell-side capital market institutions, banks (universal, commercial and retail), corporate treasuries, financial industry utilities, clearing houses, exchanges, systems integrators, application vendors and corporate enterprises. By working with a global and diverse client base Volante is able to encapsulate a best practice approach into all its product lines.

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