Ranking marks cloud Payments as a Service (PaaS) provider’s first entry into IDC’s annual list
NEW YORK, September 30, 2021 – Volante Technologies, the global leader in cloud payments and financial messaging, announced that they have been named to The IDC FinTech Rankings 2021 for the first time, entering at #67. The recognition follows numerous 2021 industry accolades, including topping the IBS Intelligence Sales League Table (SLT) in wholesale banking payments and winning the Best Real-Time Payments Solution at the 2021 PayTech Awards, and a banner 2020 during which the company doubled new customer signings.
The annual vendor ranking represents the leading hardware, software, and service providers to the financial services industry from around the world. Vendors are ranked based on 2020 calendar year revenues attributed to financial institutions. They also supply the technological backbone of the financial services industry, an industry in which IDC Financial Insights forecasts worldwide spending on IT across the globe to be $590 billion (USD) by 2025.
According to Aaron Press, Research Director at IDC Financial Insights, “Volante’s inclusion in The IDC Fintech Rankings 2021 Top 100 is a significant accomplishment that places them in the top tier of financial technology companies. With a clear focus on payments, Volante has earned their position by creating a compelling offering and demonstrating a commitment to the success of their clients. The IDC Fintech Rankings, now in its 18th year, is the global standard list of fintech providers to the industry, and we congratulate Volante for their placement among the 2021 winners.”
Volante is a pioneer in instant/real-time payments (RTP). Its collaboration with BNY Mellon provided the bank with the core technology to enable the first real-time payment in the U.S in 2017, and Volante powered the first end to end instant payment in the Kingdom of Saudi Arabia in 2020.
Within the past year, organizations ranging from global banks like Citi and Goldman Sachs to regional leaders like Banorte and TAB Bank have selected Volante as their payments modernization partner for real-time/instant payments, cross-border payments, ISO 20022 migration and cloud Payments as a Service.
Most recently, the PaaS fintech launched The Volante Experience, an important step in the democratization of payments processing, helping clients evolve to the cloud with full pricing transparency and at a fraction of the cost and time of legacy payments onboarding approaches.
“As an innovator in fintech, we’re setting a high bar for excellence, and that improves and elevates the entire industry. It’s telling that our customers, some of whom are the largest banks in the world, are also investors in Volante. You can’t get a better customer recommendation than that,” said Vijay Oddiraju, CEO, Volante Technologies.
“However, it’s not just about technology,” he continued. “There are the ethical imperatives of an industry that manages access to capital in an age of great global inequality. A huge percentage of the global population are unbanked. Even where there is no physical bank presence, the distributed services in our cloud-native solutions can serve all of these individuals in the most remote places.”