SOURCE: Volante Technologies

Volante Technologies

June 07, 2016 03:00 ET

Volante Technologies Launches Accelerator for Bank Integration to Ripple's Distributed Financial Technology

Building on the VolPay Hub Ripple Integration Capability Launched in October 2015, Volante's New Ripple solution, Available as a Component of the VolPay Foundation Payments Development Platform, Offers the Same Functionality Across Any Bank, Treasury or Payment Platform

NEW YORK, NY and LONDON, UNITED KINGDOM and DUBAI, UNITED ARAB EMIRATES and MEXICO CITY, MEXICO--(Marketwired - June 07, 2016) - 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."

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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About Ripple
Ripple provides global financial settlement solutions to ultimately enable the world to exchange value like it already exchanges information -- giving rise to an Internet of Value (IoV). Ripple solutions lower the total cost of settlement by enabling banks to transact directly without correspondent banks and with real-time certainty, optionally using the digital asset XRP to further reduce liquidity costs. Banks around the world are partnering with Ripple to improve their cross-border payment offerings, and to join its growing, global network of financial institutions and market makers.

Ripple is a venture-backed startup with offices in San Francisco, New York, London and Sydney. As an industry advocate for the Internet of Value, Ripple sits on the Federal Reserve's Faster Payments Task Force Steering Committee and co-chairs the W3C's Web Payments Working Group.

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