Prepares to launch several US real-time payments processors to be made available in the coming months: First processor to be piloted on The Clearing House’s (TCH) real-time payments (RTP) network with a top ten US-based bank.
Volante Technologies, a global leader in the provision of payments and financial message integration, processing and orchestration software, today announces its ability to help banks embrace real-time payments in the US and in other countries around the globe with its VolPay Hub: RTP Suite. The new solution launches with its first of several RTP processors – the TCH RTP Processor Module, to support The Clearing House RTP Initiative. Volante’s solution is one of the industry’s most advanced to date, and is to be piloted by a top ten US-based bank and TCH.
Based on the time-proven VolPay product line, the VolPay Hub: RTP Suite is a specifically configured version of the VolPay Hub product and deals with all aspects of integration, processing and orchestration of real-time payments. The solution may be cloud or in-house deployed and runs on any infrastructure, including open source. VolPay Hub: RTP Suite is payment API enabled, establishing itself as a platform for the next-generation payment ecosystem. It integrates easily with sanctions, funds control, accounting and any other required in-house or external systems quickly and seamlessly, ensuring painless deployment with an accelerated time to market for banking real-time payments products.
Steve Ledford, Senior Vice President, Product and Strategy, The Clearing House, said, “In building a new industrial-strength clearing and settlement system fit for a digital economy, we want to enable consumers and businesses to send and receive payments instantly, directly from their accounts at financial institutions. To ensure financial institutions can build innovative digital commerce solutions, this needs to include a robust modern architecture. We are excited that Volante has developed the VolPay Hub: RTP Suite to help provide banks with quick and efficient adoption of TCH’s RTP.”
Nadish Lad, Global Head of Payments Products, Volante Technologies, said, “The VolPay Hub: RTP Suite with its initial real-time payments processor module, built for The Clearing House’s network, will help US banks adopt the TCH RTP scheme quickly and efficiently. In addition, the product’s REST APIs and ‘white labeling’ features will enable accelerated and easy adoption by the banks’ customers. We are looking forward to helping our customers with accelerated implementations and a rapid adoption of RTP capability.”
Linda Coven, Senior Analyst, Aite Group, said, “Real-time payments are now becoming a reality in the US. Due to the complexity of legacy systems and complex architecture, there is a need for an RTP processing solution that can be implemented relatively quickly and efficiently so that real-time payments can become a widely accepted reality in the US in the medium term. Volante’s VolPay solution is an example of a modular, configurable and automated solution that can help banks of all sizes achieve this reality.”
For more information, download our executive briefing or hear Volante and BNY Mellon executives speak at the upcoming NACHA PAYMENTS 2017 as part of its executive forum on Monday, April 24, 2017, at the Austin Convention Center in Room 10AB.
Founded in 2001, Volante Technologies is a global leader in the provision of software for the integration, processing and orchestration of payments and financial messages within financial institutions and corporate enterprises. Volante is dedicated to helping firms manage challenges in this domain with greater ease and speed so that they can focus on the business of being competitive in their marketplace. Product features such as configuration rather than coding, automated code and documentation generation and an inbuilt test harness, promise significantly accelerated project completions.About Volante
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 100 domestic and international financial industry standards plugins. These standards include; SWIFT MT and MX, ISO 8583, FIX, FpML, EDIFACT, ISO 20022, SEPA, BACS, US TCH 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, Chennai and Pune, 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.
Established in 1853 by the nation’s leading banks, The Clearing House originally functioned as a quasi-central bank long before the Federal Reserve was formed, facilitating exchanges, setting monetary policy, issuing a form of currency and even storing vaults of gold to back settlements.
The Clearing House has stayed true to its core mission, today providing core payment systems that clear and settle nearly $2 trillion each day and applying expert advocacy and thought leadership resources to address issues of critical importance to the industry: safety, soundness, risk mitigation and other complex policy challenges.