New York – October 5, 2004- The Vanguard Group and VOLANTE TECHNOLOGIES, INC., jointly announced today that The Vanguard Group has agreed to use Volante for data management.
Volante is applicable to a wide variety of solutions used by the financial services industry including payments, corporate actions, market data and trade processing. Specifically, Volante provides platform agnostic solutions for data management and complex messaging.
First Quote from The Vanguard Group: Tim Buckley, Managing Director – Information Technology
"All of the new technologies we implement must drive quality improvements or enhance efficiencies, providing value to our clients," said Tim Buckley, Managing Director—Vanguard Information Technology. "Volante offered a new approach to message management using models and a very flexible architecture that we believe will help us reduce costs and greatly shorten project development times."
In the initial project at The Vanguard Group, Volante will take any Vanguard proprietary COBOL copy-book format message parse and validate it against Vanguard’s own business and validation rules and then transform the message to a standard, fully-validated SWIFT format message.
1st Volante quote: Vijay Oddiraju, Chairman and Co-Founder
"Volante is extremely pleased that The Vanguard Group has selected our product suite, after an exhaustive and comprehensive evaluation, to address their immediate and long-term needs for flexible data management" stated Vijay Oddiraju, Volante’s Chairman and Co-Founder. ."We are especially pleased that The Vanguard Group initiated the contact. This validates the marketplace’s recognition of Volante as an innovative solutions company that enables users to leverage their existing infrastructure," he added.
2nd Volante Quote: Krishna Sudarshan, CTO
"Volante’s ability to integrate smoothly with The Vanguard Group’s existing systems, as well as their use of modern technologies such as J2EE and Web Services, was an important decision criterion. It is especially gratifying to us because The Vanguard Group is known for its visionary use of new technology, but only if it is practical in returning significant value to its development groups and ultimately to its customers," said Krishna Sudarshan, CTO of Volante