Overview

Lakeside Bank, a 58-year-old, family-owned institution based in Chicago, sought to modernize its payments infrastructure to meet the evolving demands of its clients and the broader financial ecosystem. Partnering with Volante Technologies, Lakeside embarked on a transformative journey to enhance its payment processing capabilities, aiming to deliver faster, more efficient services to its customers.

About Lakeside Bank

Founded in 1966, Lakeside Bank has grown to operate nine full-service branches throughout Chicago and its suburbs. With over $2.6 billion in assets, the bank prides itself on offering personalized service, where every client has a dedicated banker. Lakeside’s commitment to flexibility and swift execution has made it a trusted partner for businesses and individuals alike.

The challenges that Lakeside Bank faced

As the financial industry rapidly evolves, Lakeside recognized the need to upgrade its legacy payment systems to stay competitive. The existing infrastructure was not equipped to handle the increasing demand for real-time payments, seamless integration with emerging payment networks, or the agility required to adapt to new technologies and regulatory standards. Without modernization, Lakeside risked falling behind in delivering the speed and convenience that clients now expect.

How Volante helped Lakeside Bank

Lakeside partnered with Volante Technologies to implement a cloud-native, Payments as a Service (PaaS) solution. This platform enabled Lakeside to process a wide range of payment types, including real-time, high-value, and bulk payments, through a centralized system. Volante’s solution integrated efficiently with Lakeside’s existing infrastructure, reducing complexity and enhancing efficiency. Additionally, the platform facilitated Lakeside’s transition to ISO 20022 standards, ensuring compliance and improving data quality for better decision-making.

Our collaboration with Volante represents a significant step in our commitment to providing cutting-edge financial services. The implementation of their PaaS solution has transformed our payment operations, allowing us to serve our clients with greater speed and efficiency.

David Pinkerton, President & Vice Chairman, Lakeside Bank

Transforming the payments landscape

The collaboration between Lakeside Bank and Volante Technologies has significantly enhanced the bank’s payment processing capabilities. By adopting Volante’s PaaS solution, Lakeside has streamlined its operations, reduced manual workflows, and introduced faster, more secure payment options. These improvements have not only boosted client satisfaction but also positioned Lakeside as a forward-thinking institution ready to embrace future innovations in the payments space.

Building a foundation for growth and innovation

With the new payments platform in place, Lakeside is well-equipped to scale its operations and introduce additional services. The flexibility of Volante’s solution allows for the rapid and low-risk adoption of emerging payment schemes and technologies. Lakeside plans to leverage these capabilities to offer advanced treasury management tools, enhanced analytics, and improved cash management solutions, providing deeper insights and operational efficiencies for its clients.

The Volante difference

Volante Technologies played a crucial role in Lakeside Bank’s journey toward payments modernization. By providing a scalable, cloud-native platform, Volante enabled Lakeside to process a diverse range of payments efficiently and securely. The partnership has empowered Lakeside to innovate rapidly, adapt to evolving market demands, and deliver superior payment experiences to its clients.