I spend a great deal of time meeting our clients. Of late, I have noted that a common theme unsurprisingly, is the focus on being innovative to support growth and the taking of market share. Many clients observe that they made significant investments in their core systems 10-15 years ago with the reasoning that investing in an infrastructure gave them long term agility to adapt to the changing business environment. However, several of these firms admit that in many instances this has not been the case in recent years and they are now looking to see how they may increase, or more accurately, regain business agility. In their analysis, clients choose to categorize efforts in a number of categories, namely: Technology, Business Domain, Delivery environments and Partnerships.
Certainly an interesting set of categories and I felt compelled to do the same - to look back over the past 6 months - since our last newsletter - at what Volante has achieved within these categories to help our client base increase their long term business agility.
Looking at our achievements in the technology category, predominantly in the world of APIs, we created VolPay Channel: Open Banking - a solution designed specifically to help banks accelerate their adoption of banking APIs to work with payments related Third Party Providers (TPPs) while complying with the European PSD2 regulation. In late 2017, we contributed to the business domain category with the announcement that Volante Technologies teamed up with BNY Mellon to enable the first real-time payment in the U.S. over The Clearing House’s new RTP network, using Volante’s VolPay Hub technology.
We have also considered the increasing appetite from financial services firms for cloud-hosted opportunities and in response have made the VolPay Suite of payments products available to all customers on the cloud, thus contributing to the delivery environment category.
Finally, in the partnerships category, we have been very busy indeed expanding the breadth of service and reach for our client base by entering into a number of new partnerships with organizations. These include: Microsoft Azure, ensuring all our products are now available on cloud as well as on-premise; Token, delivering a joint proposition that enables banks to offer additional services and enhanced customer experience without the need to re-engineer back-end payment systems to handle API based payment processing, and; Open Vector, to offer an end-to-end solution (specialist consulting with technology solutions) for Open Banking implementations. In fact, we are delighted to feature an article in this edition from Open Vector’s CEO Carlos Figueredo. And finally; e-Vision, bringing the VolPay Suite of payments processing products to the North African and Egyptian markets.
As always my team and I remain committed to providing the best and most innovative technology-based solutions to our clients, If you have any questions or comments we’d be delighted to hear from you.