VolPay™ Cross-Border Payments with SWIFT gpi

56%

of all SWIFT payments pass through gpi

Instant payments have arrived in Europe. European consumers and businesses can now exchange funds immediately, at any time, using one of two pan-European networks, EBA Clearing’s RT1 and the ECB’s TIPS, whose Governing Council has moved to mandate that all T2 participants be reachable in TIPS by the end of 2021.

It’s all about connectivity. There are many strong use cases for instant payments that can serve as the basis for monetizing value-added services. But to deliver these services, banks need to easily connect to TIPS and/or RT1, and develop new instant-payment customer experience solutions.

It’s time for instant payments processing as a service in the cloud. In the past, adding a new payment scheme and enabling 24x7x365 real-time operation required high upfront costs and long integration projects. Volante’s service eliminates the drawbacks of legacy approaches, allowing banks to join the instant payment revolution quickly and at low cost.

SWIFT gpi: the build vs buy debate

Dome Scaffidi, Payments Business Development Director at Volante, discusses how SWIFT gpi helps banks and financial institutions keep their assets more liquid. Learn More

VolPay Cross-Border Payments with SWIFT gpi

The only multi-network managed service solution for instant payments, providing end-to-end payment processing and network connectivity for both RT1 and TIPS, as a managed service in the cloud

Features and Capabilities

Funds Transfer. Accepts and processes payment instructions from customers and distributes them via SWIFT network to agent banks.

gpi. Complies with all gpi rules with universal confirmation upon credit to beneficiary.

Statement and Nostro Reconciliation. Reconciles MT940/MT942 statements against payments via automatic and manual matching.

Common Services. Provides dashboards, entitlements, user management, and notifications. 

Key Benefits

  • Facilitates rapid creation of customer-centric value-added services 
  • Broadest suite of APIs to power open banking 
  • Easy to implement, integrate, and configure 
  • Fastest compliance turnaround for new SWIFT standards releases 
  • Lowers payment processing cost and improves margins
  • Simplifies future migration to ISO 20022 standard
  • Extensible to other cross-border and domestic payment types

Ready to take a closer look?

VolPay Solutions

Volante offers interoperable, extensible solutions for a variety of payments needs, all composed of business services from the VolPay ecosystem.