One of the biggest challenges that any organization faces within financial services, be they bank, corporate treasury, card issuer or payments processor is facilitating communications with their customer base. Volante has a long track record in implementing solutions to address these requirements with the Volante Designer product has been specifically engineered to alleviate many of the issues commonly encountered. VolPay Channel has been created to specifically address Host To Host (H2H) customer on-boarding.
As yet more ISO 20022-based initiatives continue to be announced around the world, the pressure on organizations to implement and maintain efficient ISO 20022-based processing continues to grow. ISO 20022 is no longer the basis for one-off tactical projects. It now impacts multiple parallel running processes, projects and strategies across large swathes of the financial market landscape. Whether it is for international or local payment clearing, securities settlement, supply chain finance automation, funds administration or cash balance reporting, ISO 20022 has come to a town near you and is here to stay.
Recently SWIFT announced that it is ending support for SWIFT Alliance Integrator by April 2016. Customers using SWIFT Alliance Integrator must now migrate to another integrator tool to ensure continuity of business.
However, migrating from SWIFT AI to a newer tool presents development and operational challenges. Specialized knowledge of SWIFT messaging is required, as well as the means to translate the message data into formats that work with internal systems or other networks.The cost of engaging consultants is prohibitively expensive and meeting the timeline is a risk.
As ISO 20022 continues to replace legacy formats around the globe and becomes the de facto basis for clearing and settlement infrastructures, global banks and financial institutions are facing unprecedented challenges to support the proliferation of new XML based message formats.
Much in the way that banks support the diverse needs of their business customers, the modern corporate treasury supports enterprise business units operating around the globe with payments, foreign exchange, treasury management, trade and supply chain finance, fixed income products, investment products, regulatory reporting, clearing, depository services, and settlement services. Some corporates even set up a nominal “in-house bank,” through which business units can pay or receive interest or profit on funds.
Volante Technologies helps financial firms and corporates address the challenges associated with adhering to the mandatory adoption of SEPA compliant credit transfers and direct debits. Volante Technologies provide software integration tools offering complete support for all the SEPA message standards.
The Dodd-Frank Wall Street Reform and
Consumer Protection Act and corresponding new European regulations for
the OTC derivatives market aim to promote market integrity through
registration and regulation of swap dealers and major swap participants,
imposition of clearing and trade execution requirements, and the
creation of real-time reporting and data repositories.
Market participants will need to communicate with these new entities
and using new processes. Each will use a variety of message formats,
both industry recommended and proprietary throughout the trading
lifecycle. Firms will need to integrate data from multiple sources and
across a range of asset classes. Message types will need to be
integrated within other enterprise systems.
Volante insulates against these unknowns and ensures firms can
operate across new markets, new process and new transaction flows.
Volante’s integration and data management technology can streamline and
simplify any development and on-going maintenance requirements.
helps financial firms address the challenge of integrating all the
major standards involved in corporate actions processing.
Designer is a suite of modular tools for integration and management of
financial data. Used today by major financial institutions, exchanges
and industry utilities around the world, Volante enables users to
rapidly build data integration solutions among market data feeds,
applications and external partners.
Technologies provides complete support for SWIFT messaging through the
SWIFT Format Plug-in for Volante Designer. The SWIFT plug-in supports
all SWIFT versions via built-in data field dictionaries.
Technologies provides complete support for FIX messaging through Format
Plug-ins for Volante Designer. The FIX plug-in supports all FIX
versions up to and including 5.0 SP2 with built-in data field
is a "solution accelerator" for the development of new business
architecture and enterprise initiatives including virtualiszation,
process integration and data governance.
consumable data without increasing processing overhead is the most
persistent problem faced by data architects. Most latency problems
reside at the internal application layer and Volante can help customers
address this, measurably increasing their processing speeds.
A data services approach to application integration simplifies the challenges of multi-faceted transaction chains and enterprise-wide standardization.Volante supports data services with innovative solutions that integrate, transform and manage complex data.
Volante supports all versions of standard FpML messages. In addition to schema validations, users receive out-of-the-box implementation of all business validation rules. This includes compliance with ISDA and SWIFT validations, as well as extended protocol-level support for FpML communications with DTCC Deriv/SERV and MarkitSERV.
Volante Market Data Streamers are used today by major financial institutions and industry utilities around the world to build low-latency connectivity among market data feeds, applications and external partners.
The Dodd-Frank Wall Street Reform and Consumer Protection Act (‘Dodd-Frank Act’) mandates swap data recordkeeping and reporting requirements for swap data repositories, derivatives clearing organizations, designated contract markets, swap execution facilities, swap dealers, major swap participants and swap counterparties who are neither swap dealers nor major swap participants.
With Volante Solutions for Oracle, financial services firms can benefit from an architecture platform that radically enhances their ability to adapt to the constantly evolving landscape of information exchange. Whether driven by regulatory change, commercial pressure to rapidly on-board clients/ services, or simply to adhere to the maintenance cycles of existing global data standards such as SWIFT, FIX or FpML the challenges are considerable.
SCF is defined as the combined use of financial instruments, practices and technologies to optimize the working capital of collaborators in the supply chain process. In practical terms, this requires the proactive exchange of data between collaborating parties.
Volante has a long track record of partnering with application/technology vendors, systems integrators and consultancies that service the global financial services industry.
Choosing the right data integration tool that promotes agility (speed and exibility), that is easy to use, involving
configuration with minimal programming is a key objective that needs to be met by the Institution.Volante
Technologies offers a comprehensive data integration platform that allows data aggregation, transformation and
reporting - ultimately delivering streamlined agile regulatory compliance reporting processes in any organization.
With its long history of innovative developments in the corporate-to-bank financial message integration and processing space,
Volante Technologies has launched an innovative self-service portal as part of its VolPay Channel product. This facility will reduce
the burden for corporates when making payments to their customers. It is a new proposition that will change the way corporates
make payments within the B2C space.
The area of corporate payment processing has long posed challenges to each party in the payment
cycle, especially for the corporate payor. For a corporate, generating and tracking physical checks is a
time-consuming and expensive process. For those corporates that can produce electronic payments,
there is the requirement to store complete and confidential banking details for beneficiaries. This places
greater stress on the corporate’s cybersecurity policy and supporting technology. Considering that some of
these may be one-off payments, such as a rebate or single claim, retaining additional financial data would
present an unnecessary liability. In addition, recurring payments, such as pensions, is susceptible to fraud,
requiring a “proof of life” status in order to ensure continued payments.
Insulate your current applications
from constantly changing external data requirements.
Volante Technologies provides complete support for 100+ international and domestic financial
standards and protocols via its growing and maintained library of plugins, transformations and processor modules. Communicate seamlessly with clients and other
counterparties and Connect with third parties in as little as two weeks.
Volante provides an extensive set of message standards libraries and
proprietary data integration components that together with the Volante
Designer deliver great efficiency, faster ROI and lower TCO. By dramatically
reducing the standards expertise overhead and the required development
resources, Volante consistently demonstrates reductions in integration
project costs that range from 60-80%, when compared to hand-coding.
In today’s financial markets, each financial organization or corporate must
manage, support and remain compliant with an ever-increasing range of
message standards. As messaging standards continue to evolve driven by
regulation or by technology capability, the onus is on the organization to
maintain each standard whatever the variant; globally-defined, locally- or
regionally-defined, bilaterally - or even unilaterally-defined proprietary formats.
OTC-Connect provides a cross asset class interface environment
for swaps, FX and CDS asset classes in the OTC (over-the-
counter) market and traditional exchange traded instruments.
OTC-Connect transforms messages and routes to front, middle
and back office destination applications and departments.
Volante’s VolPay Ripple Plugin simpli es the connection to
Ripple’s near real time payment and settlement network.
Volante solutions for ISO 8583 enable financial services, card processors and
retail firms to benefit from an architecture platform that radically enhances
their ability to adapt to the constantly evolving landscape of message
The digital banking era has placed enormous pressure on the payment
integration capabilities of both banks and corporates. Organizations must
address the diverse challenges of customer payment channel proliferation;
migrations to new XML based message standards, new real-time clearing
networks, and numerous, varied alternative payment services.
VolPay Foundation addresses these challenges by optimizing the
payment integration capabilities of the organization.
There is no financial or corporate institution on the planet that has not been impacted by the
dynamism of the digital payments processing age. Whether your organization is a major retail
or corporate bank, or a specialized investment or finance house, or a regional or local player in
banking or business, your organization, and more importantly, your internal payment processing
systems, are being asked to cope with constant change, and deliver constant innovation.
The Clearing House (TCH) has announced plans for its own real-time payments initiative for the U.S. The Real-Time
Payments (RTP) system will support the sending and receiving of credit transfers, requests, remittance advices and
messages across the network in real-time in a 24x7x365 processing environment. The TCH RTP is scheduled to go
live in April of 2017. For each financial institution wanting to participate in the initiative, it will need to thoroughly
review its internal technical infrastructures and back-office functionalities to ensure that it is in a position to take full
advantage of the benefits of this service.
VolPay is a suite of software applications designed specifically to accelerate
all aspects of payment integration, processing and orchestration.
The efficient handling of payments is more important than ever within financial institutions and corporate enterprises.
Digital payments are here to stay and are growing almost exponentially in types, standards and quantity. Being
able to adapt to this new environment quickly, efficiently and very cost effectively is a key requirement in being able
to remain competitive in today’s payment processing market. As payment service providers experience the need to adapt to the rapid onset of new digital channels, increasing regulation and real-time data, they seek out new
technologies and tools to help them ef ciently and cost effectively address these mandated challenges.
For corporates, integrating to new payment platforms can not only be complex but likely to be an ongoing
challenge. In cases where corporate enterprises attribute a significant portion of their growth to company
acquisitions, the problem is particularly pronounced because of the plethora of different payment and
message standards those individual companies use. The introduction of new payment channels, as well as
changes to existing payment file formats, place additional stress on internal payment processing systems.
The failure to rapidly implement changes can disrupt critical business flow and can potentially result in lost
“Change is great, but it is the transition that keeps me awake at night...”
We believe the following six solutions will help you get a better night’s sleep.
“Change is great, but it is the transition
that keeps me awake at night...”
... We believe the following six solutions will help you get a better night’s sleep.
Volante Technologies believes that skills transfer is the key to helping
organizations benefit from the full power and flexibility of the Volante product. Volante have personnel with the complete mix of business and technical
skills who can provide product training, mentoring and architectural advice
throughout the life of the project. This ensures that our customers achieve
optimal and maintainable solutions whatever their integration requirements. Volante can work with client staff, their preferred systems integration delivery
team or provide external consultants with existing Volante expertise.