Designed to address the migration of Jordanian payments to new ISO 20022-based message standards
NEW YORK, LONDON, DUBAI, 8th June 2015 – Volante Technologies, a global leader in the provision of financial message and data integration, validation and processing software, today announced a strategic partnership with Access to Arabia (A2A). The initial focus of the partnership is to aid banks in Jordan, many of whom are existing A2A clients, migrate to ISO 20022-based payment messages.
The Central Bank of Jordan has mandated that all banks convert local payments from the existing SWIFT MT based standards to the IS0 20022 standard in 2015. A2A, the provider of middleware and mobile payment solutions for financial institutions across the Middle East, selected components of Volante Technologies’ newly launched payments integration development platform, VolPay Foundation, to be a key part of the message conversion solution for Jordanian banks seeking to migrate to ISO 20022.
Customers using the combination of Volante and A2A stand to benefit from the ability to rapidly convert their systems to process the new standard for local Jordanian payments. The first Volante Technologies A2A implementation is currently underway in Jordan.
The time proven Volante Designer technology, which lies at the heart of VolPay Foundation, enables rapid and easy transformation, validation and enrichment of disparate message formats. It achieves this through out-of-the-box message format ‘plug-ins’ and automated code generation. With its comprehensive built-in message libraries it enables customers to remain compliant and insulated from the complexity of current and anticipated changes in message standards. VolPay Foundation will enable A2A customers to benefit from condensed and accelerated local MT– local ISO 20022 message transformation and migration timeframes and quickly meet the imposed deadline.
For the past 15 years Volante has been helping insulate banks and corporates around the world from the complexity of changing message standards. The latest mandate by the Central Bank of Jordan is one of many ISO 20022-based migration projects currently occurring on both a domestic and international level. Using components of VolPay Foundation, Volante has been implemented as the transformation layer that quickly and seamlessly transforms messages from one standard to the next without requiring a change to internal or legacy systems. We support A2A’s drive to offer participants choice in how they migrate to the new standard and look forward to helping more customers address their payments integration challenges and seeing them benefit from our long term partnership.
Volante Technologies’ proven track record in helping accelerate message transformation and integration projects and their local expertise within the region means that they were a perfect strategic partner for our current and future Middle East banking integration projects. Volante has not only provided out-of-the-box MT-MX transformations but has also built solutions for bespoke messages that are unique to the Jordanian market thereby enabling seamless migration. By embedding Volante’s technology into our platform, we are now able to dramatically reduce time to complete migration projects and help our clients meet the aggressive completion deadline.