Overview

Arion Banki, a leading financial institution in Iceland, has taken a decisive step toward modernizing its payments infrastructure to meet rising regulatory demands and lay the groundwork for innovation. With industry deadlines approaching—including ISO 20022 CBPR+ and the EU’s Digital Operational Resilience Act (DORA)—the bank recognized the need for a platform that could deliver not only compliance but long-term agility. 

Partnering with Volante Technologies, Arion Banki selected Volante’s cloud-native Payments as a Service (PaaS) solution to modernize its payments operations. The collaboration enables the bank to simplify its architecture, streamline operations, and confidently meet current and future regulatory requirements—all while preparing for SEPA Instant and the next wave of payment innovation. 

About Arion Banki

Headquartered in Reykjavík, Arion Banki is a full-service universal bank serving individuals, corporations, and institutions across Iceland. The bank has a strong reputation for combining traditional banking expertise with digital leadership, offering a full range of financial services through modern digital channels and a nationwide branch network. With a 28% share of the country’s retail banking market and a focus on sustainability, resilience, and innovation, Arion is known for its forward-thinking approach to financial services. 

The challenges that Arion Banki faced

Arion Banki was facing the dual pressure of modernizing its payments infrastructure while preparing for fast-approaching regulatory deadlines. The ISO 20022 CBPR+ mandate, due in November 2025, and the requirements of DORA were central concerns. Arion’s legacy systems lacked the flexibility and scalability to meet these mandates efficiently, and maintaining compliance through existing infrastructure would introduce significant complexity and risk. 

At the same time, Arion wanted to do more than meet compliance checkboxes. The bank was looking for a strategic solution—one that would offer extensibility, simplify operations, and create a foundation for innovation across instant and cross-border payments. Preparing for SEPA Instant enablement was also on the horizon, requiring a platform that could easily expand as the bank’s needs evolved. 

How Volante helped Arion Banki

After evaluating its options, Arion Banki selected Volante Technologies for its proven ability to deliver modern, cloud-native payment solutions tailored to complex regulatory and operational environments. Volante’s PaaS platform stood out for its modular design, rapid deployment capabilities, and built-in compliance features. 

Volante delivered a payment hub with support for multi-rail processing and an API-first architecture that integrates seamlessly into Arion’s ecosystem. The platform is hosted in the cloud and designed for real-time operations, offering full traceability, embedded governance, and audit readiness by default. It provides the scale and resiliency Arion needs to confidently address CBPR+ and DORA, while also setting the stage for SEPA Instant readiness without requiring a complete system overhaul. 

Transforming payments for compliance and growth

Arion Banki’s implementation of Volante’s PaaS solution has already begun to reshape its payments landscape. By consolidating services into a single modern platform, the bank has simplified its operations, reduced technical debt, and strengthened its compliance posture ahead of critical regulatory deadlines. 

The move has also freed the bank to think more strategically about payments as a driver of customer value and competitive advantage. With a platform that supports real-time rails and embedded intelligence, Arion is now positioned to offer more responsive services, adapt quickly to market changes, and roll out innovations with greater speed and confidence. 

With Volante’s Payments as a Service, we have strengthened our payments infrastructure and set a strong foundation for long-term innovation and growth.

Björn Björnsson, CIO, Arion Banki

Building a foundation for the future

By adopting Volante’s cloud-native payments platform, Arion Banki has not only modernized for today, it has also future-proofed for tomorrow. The bank is now equipped to support upcoming initiatives like SEPA Instant, expand into new payment types, and deliver enhanced services to its customers, all from a single, extensible platform. 

As regulations evolve and customer expectations rise, Arion can respond with confidence. Its payments infrastructure is now a strategic asset—one that aligns with its digital leadership goals and positions the bank to thrive in a competitive financial landscape. 

The Volante difference

Volante Technologies played a vital role in Arion Banki’s transformation, delivering more than just a platform—it delivered a path forward. Volante’s deep domain expertise, particularly in ISO 20022 and real-time payments, enabled Arion to accelerate progress without sacrificing control or compliance. The flexibility of Volante’s PaaS solution allowed the bank to modernize at its own pace, reduce operational complexity, and remain ahead of shifting regulatory demands. 

The partnership has equipped Arion with a payments foundation that is not only resilient and secure but also ready to scale with innovation. For banks seeking to transform with confidence, Volante offers more than technology—it offers a future-ready advantage.